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| Daren Blomquist |
IRVINE, CA— RealtyTrac® (www.realtytrac.com),
the leading online marketplace for foreclosure properties, today released an
exclusive report on the health of local housing markets compared to four years
ago.
Titled “Election 2012 Housing Health Check,” the report
found that 65 percent of local housing markets nationwide are worse off than
four years ago based on an analysis of five key metrics impacting housing in
more than 900 counties nationwide.
The key metrics analyzed were average home prices,
unemployment, foreclosure inventory, foreclosure starts and share of distressed
sales. In the 919 counties with data available for all five metrics, 580 (65
percent) showed at least three out of the five key metrics worse off than four
years ago, while in 315 counties (35 percent) at least three of the five key
metrics were better off than four years ago.
“The U.S. housing market has shown strong signs of life in
recent months, but many local markets continue to struggle with high levels of
negative equity as the result of home prices that are well off their peaks. In
addition, persistently high unemployment rates are hobbling a robust real
estate recovery in most areas,” said Daren Blomquist, vice president at
RealtyTrac.
“While the worst of
the foreclosure problem is in the rear view mirror for a narrow majority of
counties, others are still working through rising levels of foreclosure
activity, inventory and distressed sales as they continue to clear the wreckage
left behind by a bursting housing bubble.”
For a complete copy of the company’s news release, please
contact:
Jennifer von Pohlmann
949.502.8300, ext. 139
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