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Applications for new mortgages, an index of which is shown in the chart above, plunged in the first 5 months of 2010 and hit a 15-year low in 2011.

(click to enlarge)

Since then, they have risen 37%. This provides yet more confirmation of the resurgence in the residential housing market. New buyers are coming back into the market. The most recent data available from Radar Logic shows that housing prices are up about 10% from year-ago levels:

(click to enlarge)
Source: Mortgage Applications On The Rise