Looking at the HUD Housing Scorecard for April 2012…
I can still remember how long the walk was from the bus stop to my house on the day that report cards came out. I never really got bad grades but my parents always thought I should do better. Looking back, I am sure I could have.
Speaking of getting a bad report card, last week HUD released their latest report on the US housing market. The April 2012 Housing Scorecard is slightly better than some of the scary stuff we have seen in the past few years. Along with the usual collection of interesting is some good news for real estate and the economy:
Existing home sales in the first quarter of 2012 were 5.3% HIGHER than 2011
Great to see some improvement. We keep hearing about improvement in the US housing market. Consider this quote from HUD Assistant Secretary Raphael Bostic:
We’re making important progress in providing relief to homeowners under the Obama Administration’s programs. With fewer borrowers falling behind on their mortgages and almost half a million families taking advantage of our enhanced Home Affordable Refinance Program – standing to save on average $2,500 per year – it’s clear that the Administration’s efforts continue to provide significant positive benefits.
Bostic is a little more positive about the various attempts by the Obama Administration to help struggling home owners than I am. Check out some of the charts:
Right now could be a great time to buy a home with the low mortgage rates and high affordability. If you are selling, the fact that home prices seem to stabilizing should be great news. For more local information, I will be posting the latest Market Reports for Upstate South Carolina later this week.