Tom Kelly

Inventory levels of for-sale homes at the end of 2012 were down 17.3 percent from year-ago levels, reaching the lowest level in more than five years, Realtor.com reported.

With a housing market on the mend in many areas, some cities - including Seattle - are experiencing big increases in home prices.

Despite the slump in the housing market the last five years, the number of homeowners without a mortgage in the third quarter of 2012 was about the same as it was in 2000.

The rules eliminate "no-doc" and "low-doc" mortgages, requiring lenders to make certain that borrowers are able to repay the amount of the loan they seek.

The 30-year fixed mortgage rate averaged 3.40 percent, its highest reading in eight weeks. The all-time record low for the average 30-year fixed was 3.31 percent set November 21, 2012. Fifteen-year fixed-rate loans averaged 2.66 percent, up from last week's 2.64.

According to local lenders, qualifying for a loan will become more difficult in 2013. Rental rates are going up. If you are cleaning up your credit, or stashing away more cash to help your chances of getting a loan, perhaps leasing a home with an option to buy is a sensible interim step.

Ten major banks have agreed to pay more than $8.5 billion in a settlement with federal regulators over lenders' past mistakes in processing foreclosures.

About a quarter of first-time homebuyers use gifts from relatives to fund a down payment for a home purchase, according to data from the National Association of Realtors.

Homebuyers are planning to remain in their homes an average of 13 years before moving out, according to new research by the National Association of Home Builders.

A tax break for forgiven mortgage debt that was set to expire December 31 was extended by lawmakers when they dodged the fiscal cliff this week.

Chris Crocker, former regional vice president at Realogy subsidiary NRT LLC, the largest brokerage in the U.S., has joined Seattle-based Zillow as vice president of strategic partnerships.

During the housing crisis, Generation X made up the largest percentage of households in foreclosure - particularly the well-educated and affluent members of this generation, according to a new study by the Federal Reserve Bank of St. Louis, "The Foreclosure Crisis in 2008: Predatory Lending or Household Overreaching?"

Average rates on fixed mortgages moved closer to their record lows this week, a trend that has made home buying more affordable and helped sustain a housing recovery.

With low mortgage rates and fallen home values, some housing analysts are questioning why more first-time buyers-particularly the younger generation-aren't moving into the market.

The housing market is expected to make big strides to getting closer to more normal levels, due mostly to a rise in home prices and household formation that is adding to demand, the NAHB reported.

Forbes Magazine recently drew up a list of America's coolest cities, based on such factors as the arts and culture scene, recreational activities, diversity, number of restaurants, and unemployment rate.

The average rate on a 30-year fixed mortgage last week dipped closer to the lowest rates on record.

What does 2013 have in store for the housing market? With marked gains this year, housing experts expect the housing market to continue to gain momentum in the New Year.

Seattle is ranked sixth on Trulia's list of the nation's "healthiest" housing markets for 2013.

The low inventory of homes in the Puget Sound area has spurred a resurgence in homebuilding.

Sammamish, the popular Eastside community highlighted by quiet neighborhoods and terrific high school athletes, has been named the "Friendliest Town in America" by Forbes and Nextdoor.com, a social network.

Homeowners are turning to bigger homes following five years of downsizing trends.

Average rates on fixed-rate mortgages rose this week but remained near record lows, a trend that is leading more Americans to buy homes or refinance their loans.

My folks lived in the same home for 46 years. The special place always took on extra energy and enthusiasm during the last two weeks of the year as my parents prepared and introduced their seven children to the celebration of the birth of Christ, holiday plays, Santa Claus and New Year's Resolutions.