96% Of Local Markets Better Off Than 4 Years Ago

Among 410 U.S. counties recently analyzed by RealtyTrac, 96 percent were better off than they were four years ago, at the peak of the foreclosure crisis. The analysis looked at four key categories of housing market health, including home price appreciation, affordability, percentage of bank-owned sales, and the unemployment rate. Daren Blomquist, vice president at RealtyTrac, said the housing recovery has taken root in hundreds of counties across the country and almost all local markets are better off than they were in 2010. And most analysts expect continued improvement this year. According to Blomquist, though price gains have caused a drop in affordability in some areas, builders and homeowners that have regained equity should help boost for-sale inventory, which will balance those markets and moderate price increases. Also in the report, just 8 percent of county housing markets are better off than they were before the housing bubble burst in 2006 – but 30 percent were healthier than six years ago, when the Great Recession began. More here.

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