Filed under: Economic data, Personal finance, Housing, Recession

There’s a speck of good news in the housing market. According to the Federal Housing Finance Agency, U.S. home prices actually rose 0.9% from April to May, but overall were down 5.6% from a year earlier.

This was the news against the backdrop of a continuing deterioration in the overall market. Let’s look at the big picture for a moment:

• U.S. delinquency rate rose to a seasonally adjusted 9.12% and the foreclosure rate rose to 1.37% the highest since records were kept in 1972.
• One in each eight Americans is now late on their home loan payment or already in foreclosure, according to Jay Brinkmann of the Washington-based bankers’ group.
• Notices of default, auction or bank seizure rose to a record in the first half of 2009.
• Realty Trac Inc. reports that one in each 84 U.S. households received a foreclosure filing in July. That was a 15% increase from a year earlier.

Continue reading Home prices: A speck of good news against the backdrop of high unemployment

Home prices: A speck of good news against the backdrop of high unemployment originally appeared on BloggingStocks on Wed, 22 Jul 2009 15:10:00 EST. Please see our terms for use of feeds.

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This entry was posted on Thursday, July 23rd, 2009 at 3:56 am and is filed under Real Estate and Housing. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.