(NEW YORK) — The worst may well be over for the housing market, especially in much of the country where foreclosures have not been as widespread. Even bidding wars are back in some areas, according to The Wall Street Journal.
The newspaper reports that in markets across the country, more and more buyers are competing for the same properties. But the bidding wars are not an indication of surging sales, WSJ says, but rather the result of supply shortages. This could be a sign that demand for housing is picking up.
As for home builders, shares for Pulte shot up 10 percent after the company reported an increase in permits to build homes.
Copyright 2012 ABC News Radio
Aaron Smith and Evan Perez, CNM
Magdala Louissaint, KPVI
Kathryn Vasel, CNN