U.S. housing market continues to gain: report

The U.S. housing market is marching towards recovery, according to RealtyTrac’s first-ever market recovery index report.

An engine of the U.S. economy, the housing market is approaching pre-crisis levels after showing a year and a half of recovery in prices and activity, according to the Irvine, Calif.-based organization.

Still, “lingering distress” from the last real estate cycle has resulted in “an uneven pace of recovery across different local markets,” spokesman Daren Blomquist said in a release.

Florida is back on top of RealtyTrac’s foreclosure rankings, with one out of 10 homes in South Florida in foreclosure, as The Real Deal reported. — Emily Schmall

via The Real Deal Miami http://feedproxy.google.com/~r/trdnews_miami/~3/GAnptQs7apo/