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RE/MAX: Prices, Sales Climb in March, Inventory Sees New Low

According to RE/MAX's National Housing Report for March, closed transactions climbed 27.8 percent month-over-month, starting the selling season off strong. Year-over-year, sales were up 2.9 percent, making March the 21st straight month to see higher sales than the previous year. Months Supply of homes fell to 3.8 in March, down 29.5 percent year-over-year and the lowest level recorded since RE/MAX's National Housing Report began in August 2008.

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FDIC Announces 3 More Bank Failures, Total Rises to 8

The 2013 national bank failure tally ran up to eight this weekend as three more institutions fell by the wayside. FDIC announced the collapses of Chipola Community Bank in Marianna, Florida; Heritage Bank of North Florida in Orange Park; and First Federal Bank in Lexington, Kentucky.

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Poll: Americans Growing More Optimistic on Home Prices

The infectious optimism surrounding the housing market has the majority of Americans feeling more positive, according to survey results from Gallup. According to Gallup's findings, 51 percent of those surveyed said they expect home prices to rise in their area over the next year--the first time since 2007 that that number has been above 50 percent. Last year, only 33 percent of respondents gave the same answer. In this year's survey, 34 percent of Americans said prices will stay the same, while 14 percent said prices will fall.

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Will Setbacks Derail the Homebuilding Recovery?

Despite some obstacles in the homebuilding recovery and three consecutive monthly declines in the National Association of Home Builder's homebuilder confidence index, Capital Economics remains largely optimistic about the homebuilding rebound. The analytics firm is sticking with its previous prediction that housing starts will reach about 1 million this year and 1.3 million next year as rising home prices help to mitigate increases in construction costs.

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Fitch Reasserts: Price Gains Unsustainable

In a release, Fitch Ratings maintains its cautious view of recent gains in home prices, suggesting recent news of rising prices and sales volumes "are not moving in sync with key economic indicators that would otherwise support a sustainable price level." One of those key indicators in unemployment, which has fallen in the past several years--partly as a result of fallout in labor force participation, not an improving employment situation, Fitch says.

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