The housing market recovery is nearly halfway to a normal real estate market. At least, according to Trulia and their Housing Barometer. October had the largest increase since Trulia began tracking recovery a year and a half ago. All three levels (delinquency and foreclosure rates, existing home sales, and construction) that the Housing Barometer tracks showed improvement in October–indicating the housing market is getting back on track.
But what do you think–could Trulia be right on this?
“The housing recovery is nearly halfway complete, according to Trulia’s Housing Barometer, which in October posted its largest increase since it began tracking recovery 18 months ago.
Trulia monitors delinquency and foreclosure rates, existing home sales, and construction starts and compares them with their worst points during the housing crisis and their normal pre-bubble levels. All three indicators showed improvement in October.
Delinquency and foreclosure rates declined to 10.64 percent in October, falling from 11.27 percent in September and 11.88 percent a year ago.
In fact, the delinquency and foreclosure rate is lower than it has been in four years.
Compared to crisis highs and pre-bubble norms, delinquencies and foreclosures are 41 percent between.
Existing home sales are faring even better, at 59 percent between their worst rates during the crisis and their norms prior to the bubble. “Sales are 59% back to normal-more than halfway,” according to Trulia.
Existing home sales in October rose to 4.79 million, a 2 percent increase, following a decline in September…”
Read more of this article by DSNews.com here: “Trulia: Housing Recovery Nears Halfway Mark”.
If you have any questions about the real estate market, or are interested in listing or buying, please don't hesitate to contact me at (714) 914-9060 or Renee@bhhscdm.com!