The U.S. Department of Housing and Urban Development and the U.S. Department of the Treasury’s June Housing Scorecard is a comprehensive report on the housing market which compiles and analyzes key data and measures the administration’s foreclosure prevention and recovery programs. Among the findings in the June report, home equity rose 7.4 percent in the first quarter of 2012. The increase brought home equity levels to their highest point since the second quarter of 2010. Also, sales of previously owned and newly built homes both posted gains in May and inventory is at its lowest level in years. Despite the improvements, however, foreclosure starts and completions also rose, which indicates some continued fragility in the market. Also, 86 percent of homeowners entering the administration’s HAMP program in the last 23 months have received a permanent mortgage modification. To date, one million homeowners have received a HAMP modification. More here and here.
