The Obama Administration’s most recent Housing Scorecard — a comprehensive report on the nation’s housing market — shows subtle improvements in the market over the past year, but a mixed outlook going forward.

Based on data compiled by the U.S. Department of Housing and Urban Development and the U.S. Department of the Treasury, the December Housing Scorecard shows:

  • New and existing home sales rose compared to the prior month and remain higher than a year ago.
  • Homes are more affordable than they have been since 1971. Median-income families today have nearly double the funds needed to cover the cost of the average home.
  • Home prices showed a slight dip from the prior month and remain below year-ago levels.
  • Nearly 910,000 home owners have received a HAMP permanent mortgage modification to date, saving an estimated $9.9 billion in monthly payments.
  • Eighty-three percent of eligible home owners entering HAMP since June 1, 2010 received a permanent modification, with an average trial period of 3.5 months.
  • Mortgage lenders offered home owners more than 2.6 million private-sector mortgage modifications through November.

Source: HUD and Treasury