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US Housing Just Had Its Worst Quarter Since 2008, As Foreclosures Surge Again

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Joe Weisenthal
Business Insider
May 9, 2011

A new survey from Zillow shows that the US just had its worst quarter for home sales since 2008.

Some key datapoints:

  • Nearly 75% of homes in the US lost value from Q1 2010 to Q1 2011. That’s up from 69% the quarter before.
  • Negative equity hit a brand new high of 28.4%.
  • Foreclosure re-sales hit a brand new high, representing 23.7%.
  • Meanwhile, the supply of distressed home continues to be massive. 2 million homes are in the foreclosure process, with another 1.5 million seriously delinquent.

Here are a couple of charts from the report:


Image: Zillow.com


This article was posted: Monday, May 9, 2011 at 3:07 am

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