Housing Barometer Measures Market Recovery

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Trulia’s Housing Barometer looks at five housing fundamentals and measures how quickly they’ve been returning to normal since the recovery began. Comparing pre-recession normals to post-recession lows, the report provides a glimpse of where the housing market is and where it’s headed. According to the latest release, the residential real-estate market is improving after slowing at the beginning of the year. In fact, four out of the five included measures – home prices, delinquency and foreclosure rates, existing-home sales, new construction starts, and the employment rate among 25 to 34 year olds – have improved since last quarter and all have made gains or held steady from one year ago. Among them, home prices made the biggest jump, moving from 68 percent to 79 percent back to normal on a quarterly basis. Home prices were just 44 percent back to normal one year ago. The employment rate was the only indicator that moved backward quarter-over-quarter, falling 4 percent. Although, at 35 percent back to normal it is still 5 percent better than last year. More here.