WASHINGTON – The U.S. Department of Housing and Urban Development (HUD) and the U.S. Department of the Treasury today released the March edition of the Obama Administration’s Housing Scorecard – a comprehensive report on the nation’s housing market. The latest data show progress among key indicators. In February, foreclosure starts continued their downward trend and, in January, house prices remained stable. While there are positive trends in the housing market, Administration officials caution that the economy is still healing from the Great Recession. The full Housing Scorecard is available online at www.hud.gov/scorecard.
“While there is good news in the March Scorecard, it’s clear the housing market is still in the recovery phase of the cycle,” said HUD Deputy Assistant Secretary for Economic Affairs Kurt Usowski. “The good news is that homeowners’ equity is now over $10 trillion, foreclosure starts are at their lowest levels since 2005, and house prices remain stable, but the recovery is stronger in some markets than in others. Overall, with home sales slowing, too many homeowners still underwater, and mortgage delinquency rates remaining high compared to historic norms, we must sustain our efforts to encourage continuing recovery in the housing market and help responsible homeowners.”
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