The U.S. Department of Housing and Urban Development and the U.S. Department of the Treasury’s monthly Housing Scorecard collects key market data and tracks the administration’s recovery efforts. The April report cites progress made in home sales and mortgage delinquencies but says there is continued fragility in the housing market. Mortgage delinquencies have declined for four straight months and existing-home sales are up more than five percent from last year’s level. Home prices, while still fragile, are beginning to show signs of stabilization and, in some markets, improvement. Also, inventory is at its lowest level in years, having fallen to levels typically associated with a healthy, balanced market. More here and here.
