Homebuying warms up in many parts of nation

Homebuying warms up in many parts of nation

Five years after the U.S. housing bust sent sales and prices plunging, the spring homebuying season is pointing to a long-awaited recovery.

Reduced prices, record-low mortgage rates, higher rents and an improving job market appear to be emboldening many would-be buyers. Open houses are drawing crowds. A wave of foreclosures is leading investors to grab bargain-priced homes.

And many people seem to have concluded that prices won’t drop much further. In some areas, including King County, house prices have begun to tick up.

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