Home prices are continuing to rebound, and more home owners are taking advantage of refinancing to lower their monthly mortgage payments, according to the Obama Administration’s November Housing Scorecard report.
The scorecard highlights the housing market’s big strides, a marked improvement that has not been seen since before the housing crisis.
“Six consecutive months of rising home prices have bolstered home owners’ equity,” said Erika Poethig, HUD acting assistant secretary for Policy Development and Research. Nationwide home owner equity is now $1.5 trillion higher than in April 2009.
“But with so many households still struggling to make ends meet, we have important work ahead,” Poethig added.
The report notes that the housing market has shown a rise in home values and stronger buyer demand, but the recovery remains fragile with challenges ahead.
“The administration remains focused on continuing to improve standards for the mortgage industry to help families avoid foreclosure,” said Tim Massad, Treasury assistant secretary for financial stability. “We continue to push the industry to provide better service to home owners while expanding the range of solutions available to families facing mortgage concerns.”
The author of this article is: realtormag.realtor.org
See the original post at: http://realtormag.realtor.org/daily-news/2012/12/10/obama-housing-mend-fragile
At GayRealEstate.com, we keep you updated with all the gay realtor, lesbian realtor, gay realty, gay real estate and general real estate news affecting the LGBT community coast to coast, and in your neighborhood.
Click here for list of gay realtors, lesbian realtors and gay friendly realtors Nationwide.
If you have a real estate story that you’d like to share with us with the gay and lesbian real estate community, please contact us at: manager@gayrealestate.com
