Some Interesting Housing Statistics

Posted by Bob Dohn at 11/24/2010 4:02 PM
Categories: Interesting News and Facts, Real Estate News, Real Estate Analysis, Real Estate Information
Tags: real estaterealtyreal estate marketHUDUS Dept of the TreasuryReal estate market analysis
The November edition of the monthly Housing Scorecard produced by U.S. Department of Housing and Urban Development (HUD) and the U.S. Department of the Treasury to report on the health of the nation's housing market shows continued signs of stabilization. Here are some stats from the report:
  • In the 3rd quarter of this year approximately 1 million homeowners took advantage of the lowest 30-year mortgage rates in history by refinancing their homes. Since April of 2009, 8.9 million homeowners have refinanced, resulting in more stable home prices and $15.2 billion in annual borrower savings.
  • While home sales in the second half of the year have remained below those of the first quarter as a result of the expiration of the homebuyer tax credit, home prices have remained relatively level in the past year after 33 straight months of decline and homeowners added $95 billion in home equity across the nation in the second quarter of 2010.
  • Loan modification arrangements were more than double the number of foreclosure completions between April, 2009 and the end of August, 2010.
The report goes on to warn that the recovery of the housing market continues to remain fragile and that full recovery is expected to take time. Nonetheless, these statistics offer further evidence that real estate is on the rebound and that homeownership still matters.

To view the complete report, as well as previous months' reports, go to www.hud.gov/scorecard.

Bob Dohn
Coldwell Banker Residential Brokerage
140-A S. Roselle Rd., Schaumburg, IL 60193
Direct phone: 847-301-3126
Web: www.BobDohn.com

 

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