The housing market remains fragile with a mixed picture of recovery, says the June National Housing Scorecard, released by the Department of Housing and Urban Development and the Department of the Treasury.
“The latest data offer further mixed signals as home prices turned slightly upward, though showed continued strain from foreclosures and distressed homes,” the report states. Further, “Fewer homeowners are falling into foreclosure as the Administration continues to push servicers to provide more effective assistance to troubled borrowers.”
The delinquency picture showed improvement with 4.3% of prime mortgages being at least 30 days late in June, which is a significant decline from the peak of 6.69% seen in 2010. Seriously delinquent prime mortgages, those that are at least 90 days late or are in foreclosure, dropped by 22% from a 1.9 million high recorded last year.
“Given the current fragility and recognizing that recovery will take place over time, the Administration remains committed to its efforts to prevent avoidable foreclosures and stabilize the housing market,” the report states.
Other recent housing indicators have showed pricing and sales may be on the upswing as well.
View the housing scorecard for June.
Written by Elizabeth Ecker