Tag Archive for Kurt Osowski

Gov’t Report Finds Housing Market Progress

April 11, 2014 Housing Market Comments Off on Gov’t Report Finds Housing Market Progress

According to data released by the U.S Department of Housing and Urban Development and the U.S. Department of the Treasury, the housing recovery continues to make progress, though some markets are doing better than others. The March edition of the administration’s Housing Scorecard – which collects key data on the health of the housing market and the federal government’s ongoing recovery efforts – finds foreclosure starts trending downward, homeowners’ equity rising, and home prices stable. Kurt Osowski, HUD’s deputy assistant secretary for economic affairs, said homeowners’ equity is now over $10 trillion and foreclosure starts are at their lowest level since 2005. The Scorecard also shows that, according to the most recent S&P/Case-Shiller 20-City Home Price Index, home prices are now back to their mid-2004 levels, though month-over-month improvement weakened this past winter. Despite the progress, Osowski cautions that, because the recovery is stronger in some markets than others, there is more work to be done to help responsible homeowners and encourage further recovery. More here.

Gov’t Scorecard Finds Housing Market Progress

February 11, 2014 Housing Market Comments Off on Gov’t Scorecard Finds Housing Market Progress

The U.S. Department of Housing and Urban Development and the U.S. Treasury recently released the administration’s Housing Scorecard for January 2014. The scorecard, which collects data on the health of the housing market and the administration’s recovery efforts, shows progress in many key areas. According to the latest report, home sales, foreclosure starts, and homeowner equity all saw significant improvement in 2013. Kurt Osowski, HUD’s deputy assistant secretary for economic affairs, said the number of properties which started the foreclosure process fell 33 percent last year, while sales of previously owned homes rose 9.1 percent. With foreclosures down, home sales up, and equity continuing to grow, the housing market continues to make steady progress, Osowski said. In fact, home sales posted their strongest numbers in several years and homeowners’ equity is up $3.4 trillion since the beginning of 2012. Still, officials caution that the economy is still healing, despite the positive trends in the housing market. More here.

Gov’t Scorecard Finds Progress in Housing

December 11, 2013 Housing Market Comments Off on Gov’t Scorecard Finds Progress in Housing

New Home purchases and home prices remain strong while foreclosures continue to fall, according to the November edition of the federal government’s housing scorecard. The monthly scorecard collects key housing data and the results of the administration’s recovery efforts. Released by the U.S. Department of Housing and Urban Development and the U.S. Department of the Treasury, the most recent scorecard finds progress in the housing market, though officials caution that the overall recovery remains fragile. Still, according to the report, housing affordability remains above historical norms, despite rising prices and mortgage rates. Kurt Osowski, HUD’s deputy assistant secretary for economic affairs, said continuing growth in the economy and job market, along with rising home prices, have combined to reduce foreclosure starts to levels not seen since 2005. More here.