Housing, which was rallying a year ago, has stumbled. Home sales, new
construction, and prices rebounded strongly after hitting bottom in late 2011, but all three have moved lower or sideways in recent months. One very important factor in the housing market which has improved is a giant relief to lenders and homeowners. The decline in the number of distressed homes has accelerated since 2011. Short sales, investor sales, and some federal programs designed to prevent foreclosures have removed homes from the distressed inventory.
