According to what Trulia tells MHProNews, based on housing starts, existing home sales, and the delinquency/foreclosure rate, the housing market is 54 percent back to normal. April housing starts dropped to an annualized rate of 853,000, down 16 percent from March to the lowest level since Nov. 2012, putting it at 37 percent back to normal. Housing permits spiked 14 percent from March, which means starts may rebound soon. Existing home sales increased 0.6 percent April over March, and 9.7 percent year-over-year, while inventory rose 1.8 percent. All told, existing home sales have returned to 69 percent back to normal. Lastly, delinquency and foreclosures fell to 9.38 percent in April, the lowest rate since Sept. 2008, putting it at 55 percent back to normal. These three numbers average 54 percent.
(Image credit: HousingWire)