The U.S. Department of Housing and Urban Development (HUD) released the July edition of the Obama Administration’s Housing Scorecard. The latest data show progress among key indicators, including a rebound in the sale of existing homes and the continuing downward trend of foreclosure starts and completions.
Although this scorecard notes positive overall trends in the housing market, officials caution that more work needs to be done as the economy recovers from the Great Recession.
“The market indicators for the housing market recovery were mixed in July, as foreclosure filings continue to improve, but home sales, particularly for new homes, showed unexpected weakness,” said HUD Assistant Secretary for Policy Development and Research Katherine O’Regan. “Home prices, while still increasing, are doing so at slower rates. Indications are that continued improvements in the economy, such as the July employment report which marked the sixth straight month that more than 200,000 jobs have been added, along with slowly easing mortgage credit, will keep the U.S. housing market on the path to recovery.”
The July Housing Scorecard features key data on the health of the housing market and the impact of the Administration’s foreclosure prevention programs, including:
The full Housing Scorecard is available here.
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