The housing market is making gradual improvements—home prices are inching up and foreclosures are falling—but the recovery still remains “fragile,” according to the Obama administration’s April Housing Scorecard. The monthly report highlights progress in the main indicators of the housing market.

“The Obama Administration’s efforts to speed the housing recovery are showing continued progress as the April scorecard indicators highlight ongoing improvements throughout the housing market,” said the U.S. Department of Housing and Urban Development Deputy Assistant Secretary for Economic Affairs Kurt Usowski. “The annual increase in home prices is the highest in nearly seven years and sales of existing and new homes are both up over 10 percent from one year ago. But with so many households still struggling to make ends meet, we have important work ahead.”

Home prices continued to inch up — although very slightly — with the S&P Case-Shiller home price index rising from 146.1 in February to 146.6. However, compared to year-over-year numbers, March’s index is significantly higher than the 134.1 index score a year earlier.



Existing-home sales dropped from 412,500 in February to 410,000 in March, according to data gathered from the National Association of Realtors, U.S. Census Bureau and HUD. This drop is likely due to a stark drop in inventory nationwide.



Despite low inventory, the housing supply did continue to slowly increase, with existing homes rising from a 4.6-month supply to a 4.7-month supply. The supply of new homes for sale remained unchanged at a 4.4-month supply, according to data from NAR.

Click here to read the full report.

It might be old news for many of you but as we all know government considers all data from all over the nation to get their report out. We know the market has turned around and making progress few months ago but government data reassures that with more factual figures boosting confidence among homeowners. For prospective home buyers, it is another report which assures that market is heading in the right path and encouraging them on their decision. Let’s sell more homes…

About Vijaianand Thirnageswaram

I am a Proud Realtor of Texas, trying to guide and help clients to find their dream home and educate them to buy them for right price. I am also a Candidate for CFP who has more financial knowledge which allows me share and educate clients in any financial decision making process.

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