Trulia’s Housing Barometer shows the recovery has entered a new phase as mortgage rates rise and inventory expands. While prices and existing-home sales are near normal, construction and new-home sales have a long way to go.
Each month, Trulia’s Housing Barometer charts how quickly the housing market is moving back to “normal.” We summarize three key housing market indicators: construction starts (Census), existing home sales (NAR), and the delinquency-plus-foreclosure rate (LPS First Look). For each indicator, we compare this month’s data to (1) how bad the numbers got at their worst and (2) their pre-bubble “normal” levels.
In July 2013, all three measures improved: construction starts and existing home sales rose, while the delinquency + foreclosure rate notched downward:
Interested in the raw data? See the full article by Jed Kolko on Trulia.