“The Tide Has Changed”

“The Tide Has Changed”

“The tide has changed,” said Ivy Zelman, chief executive of research firm Zelman & Associates. “People feel it’s OK to go back into residential real estate – it’s no longer taboo – and that change in sentiment could have a very powerful effect” in the national economy. Prices have risen this year amid stronger demand and sharp declines in the number of homes for sale. Banks are now modifying the loans of delinquent owners, rather than foreclosing. This has removed most potential foreclosures from the market.

- Wall Street Journal, December 27, 2012