The U.S. Department of Housing and Urban Development and the U.S. Department of Treasury released their May Housing Scorecard, which highlights key market indicators and the Administration’s housing recovery efforts. According to the report, the housing market remains fragile, despite growing evidence of progress in the broader economy. After several months of decline, home prices remain weak, though CoreLogic reported a minor monthly increase in April. Mortgage delinquencies continue to trend downward and foreclosure starts and completions remain below their peak. Also in the report, more than 4.8 million mortgage modification arrangements have been started since April 2009, doubling the number of foreclosure completions in the same amount of time. More here and here.
