Housing Economy Mixed But Appears To Be Strengthening

HUD has released its most recent scoreboard of U.S. housing activity, and the data show “mixed signals” about the recovery.

The federal agency said home prices have risen slightly but are still hampered by foreclosures.  It added, however, that fewer homes appear to be entering the foreclosure process.

Data showed that 4.4 percent of prime mortgages were at lease 30 days late, compared to last year when 5.9 percent of mortgages were late.  Moreover, seriously delinquent prime mortgages, those at least 90 days late or in foreclosure , remained approximately 22 percent below a high of 1.9 million recorded last year.

Confirming that trend, RealTrac’s recent Foreclosure Market Report shows that foreclosure activity has decreased on a year-over-year basis in 178 out of the nation’s 211 metropolitan areas.

“Foreclosure activity slowed in 2011, especially in the most foreclosure-saturated markets.” said James L. Saccacio. RealtyTrac CEO.

“These dramatic decreases indicate the foreclosure pipeline continues to be clogged in many local markets across the country, sometimes by a glut of already-foreclosed properties that are not selling quickly, sometimes by a mountain of improperly filed foreclosures that are blocking the inflow of new foreclosure filings, and sometimes by both.”

We want to know how it is in your area, do you agree with this article by Old Republic National Title Insurance?  Why or why not?…I would love to hear!


0 Responses to “Housing Economy Mixed But Appears To Be Strengthening”

  1. Leave a Comment

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Jennifer Ferri, Owner

Title Junction Archives

Enter your email address to subscribe to this blog and receive notifications of new posts by email.

Join 272 other followers


Find Us On Thumbtack


%d bloggers like this: