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July Housing Scorecard Shows Home Price Improvement

The July edition of the Obama Administration’s Housing Scorecard was recently released. The report showed continued strain from foreclosures and distressed homes, however, home prices improved slightly and as more homeowners secure mortgage relief, fewer borrowers filed for foreclosure in the month of June.

“This month’s housing data paint a mixed picture of conditions in the market— despite growing evidence of progress in the broader economy,” says HUD Assistant Secretary Raphael Bostic. “We’re continuing to see a slight improvement in home prices and a decline in mortgage defaults as our foreclosure prevention programs reach more borrowers upstream in the process. But we have much more work to do to help the market recover and to reach the many households there and across the nation who still face trouble.”

The July Housing Scorecard features key data on the health of the housing market and the impact of the Administration’s foreclosure prevention programs, including:

  • Fewer homeowners fell behind on their mortgages during the month of June.
  • The Administration’s recovery efforts have helped millions of families deal with the worst economic crisis since the Great Depression.
  • Even as new delinquencies continue to fall, eligible homeowners entering HAMP have a high likelihood of earning a permanent modification and realizing long-term success.

Read here for full article >> July Housing Scorecard.

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