Prices of homes sold in Vermont were approximately 4% lower during the second quarter of 2010 than 12 months earlier, according to repeat sales data from the Federal Housing Finance Agency (FHFA).
Vermont was no different than other northeastern states. All of them experienced lower prices during 2010’s second quarter, in comparison to 2009’s second quarter.
Sales of new homes fell 12% in July compared to June volumes, according to estimates released today by the U.S. Census Bureau and the Department of Housing and Urban Development.
A similar decline occurred for sales of existing homes. According to the National Association of Realtors (NAR), the number of existing homes sold last month dropped 27% from the prior month and 25% from the level a year ago.
A recent report by Rutgers University, entitled "No End in Sight: The Agony of Prolonged Unemployment," describes the pervasive nature of unemployment among people who lost their jobs during the recent recession.
Even though the state’s economy is recovering by many indicators, economists project a continued decline in Vermont home prices and foreclosure rates hovering at an all-time high through at least mid-2011.
The number of homeless families in the U.S. rose for the second year in a row, according to The 2009 Annual Assessment Report to Congress recently completed by HUD.
This rise shows the impact of the economic downturn “on the housing stability of low-income and vulnerable Americans,” the report explains.
Statistical research confirms unaffordable housing has broad impacts for local economies.
Recent New York City-based research demonstrates residents of tax credit-financed apartments pay $500 less than monthly market rents, more than doubling the discretionary income available to each household for other necessities.
The U.S. Census is holding a free data workshop in Burlington, Thursday, July 15.
This hands-on event will show you how to access Census data using the online tool American Factfinder. Instructors will teach attendees how to create a custom profile for specific service areas.
Home building immediately stimulates the economy. In addition to providing jobs to workers in the construction industry, funds flow to a variety of local service and goods providers and to local governments in the form of fees and taxes.
News from our friends across the street at Champlain Housing Trust (CHT): A new study shows community land trust homeowners have lower foreclosure and delinquency rates.