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HUD: March Housing Scorecard Shows Progress

The U.S. Department of Housing and Urban Development’s(HUD) latest Housing Scorecard for March, released in conjunction with the U.S. Treasury, showed progress in the housing market, but cautioned that the national economy is still healing from the Great Recession. In particular, the report commented that foreclosure starts continued to decrease while January home prices remained stable.

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. Read More Here…

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