Data from the Obama Administration’s May scorecard revealed continued improvement in housing, yet officials warn that a full recovery will still take more time.
“As the May housing scorecard indicates, the Obama Administration’s policies and actions over the last four years to speed housing recovery are continuing to show important signs of progress,” said the U.S. Department of Housing and Urban Development Deputy Assistant Secretary for Economic Affairs Kurt Usowski.
He added, “In the first quarter of 2013, homeowners’ equity grew by more than $815 billion, reaching its highest level since the first quarter of 2008.”
Annual home prices increased to the highest level since the housing bubble burst in mid-2006, with the S&P Case-Shillerhome price index up from 146.6 in March to 148.7 in April. Year-over-year the index is up from 134.1 in April 2012.