Housing Market is Positive says Fannie Mae

by Kerry on August 9, 2012

An article in today’s Housing Wire had the following to say about the up-turn in the Market.

“Two government-controlled mortgage finance giants, Fannie Mae and Freddie Mac, reported some of their best quarterly results since the real estate collapse, The New York Times reported.”

Though they say everything is not “rosy” the change in the market is positive. Prices increased in June and home sales declined.

This week “Fannie Mae posted second-quarter net income of $5.1 billion. That is up from $2.7 billion in the first quarter of this year and an improvement from a net loss of $2.9 billion in the second quarter of last year. Fannie requested no additional money from the Treasury and said it would pay a $2.9 billion dividend to taxpayers.”

Read the article here.

So, we, here on Martha’s Vineyard, have reason to stay optimistic about our market.

(Courtesy of Kerry Curry at HousingWire.com)

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