The Obama administration’s latest Housing Scorecard shows a mixed sign for the real estate market, which continues to face challenges.
The administration’s monthly scorecard reports on the health and overall conditions in the national housing market.
The latest report in January shows that inventories of existing homes for sale have continued to show improvement over the last two quarters. Inventories dropped from 3.2 million in the second quarter to 2.4 million in the fourth quarter. Another positive sign for housing: Foreclosure sales continued to fall in December. However, foreclosure completions are up. Also, new-home sales and home prices showed mixed signals.
“While we should be encouraged by the positive trends on inventories and foreclosure starts, the mixed overall outlook means that we must remain diligent to improve conditions in the nation’s housing market,” says Raphael Bostic, HUD assistant secretary.
You can view the full report of the January Housing Scorecard at http://portal.hud.gov/hudportal/documents/huddoc?id=JanNat2012_Scorecard.pdf.
Until next time stay have a good week, Joe