The housing market has been experiencing some stability in the past months however, the still-rising number of foreclosures can threaten this. Reports indicated that the decline was the smallest since June of 2008 and the decline over the course of three months looks like its bottoming out after hitting a record pace.
“It seems that some stabilization may be appearing in some of the regions,” said David M. Blitzer, chairman of the S&P index committee.
Still, foreclosures are still happening primarily due to the thousands of job cuts still occurring across the country. Without sustained incomes, many homeowners are simply forced to foreclose their properties. The number of homeowners at risk jumped in the first quarter according to a Treasury Department report.
Home prices fell 18.1% For new homebuyers not hit by the recession, have some saved for the rainy day, and the available tax credits, now seems to be a good time to invest. If you have the money then maybe it’s time to buy a home.
Source: ABC News
