Housing Scorecard Shows Increased Home Sales

Sales of existing homes increased nationally in January as home affordability remained high, according to the latest figures on the Obama Administration’s Housing Scorecard.  However, officials caution that the market  remains fragile, as prices are unsettled.

The housing market remains fragle as data through January 2011 paint a mixed picture of recovery.

Existing home sales ticked upward in January, but remained below levels seen in the first half of 2010.  Mortgage delinquencies continued a downward trend compared with early 2010, and foreclosure starts and completions remain below peak.

However, as lenders review internal procedures related to foreclosure processing, many foreclosure actions.