Home price rebound creeps into policy debate

bubble copyBy Jeanna Smialek | BloombergBusiness

Real estate broker Warren Teller watched as the housing market in Richmond, Virginia, slowed dramatically eight years ago. Today, he’s witnessing a reversal.

“We’re in the best position that we’ve been in since probably 2006 and 2007,” said Teller, 41, who’s even seen bidding wars and appraisal-topping purchase prices. “As far as prices, we’re back on track with where we were before the bubble burst, and as far as inventory, we’re down.”

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