A troubled year for housing surfaced in a February housing scorecard from the Obama administration Friday, underscoring a still-unsteady pace for home prices, mortgage origination volume, and housing supply.
Jointly released by HUD]HUD and the [Treasury Department, the scorecard reflects an industry still in transition from crisis to recovery.
The scorecard cited a National Association of Realtors (NAR) Home Affordability Index, showing that it moved from 179.1 February last year to 194.9 this year, not far from the level seen in January.
February home prices averaged $136,700, according to the Standard & Poor's/Case-Shiller index, a few figures below $142,400 seen last year and down from $138,200 in January.
The scorecard tallied up figures from CoreLogic that showed home prices, including those for distressed sales, declining from $149,300 to $147,900 year-over-year.
New home sales ticked up 26,800 in February, down from 25,800 last year and 27,000 in January, according to Census Bureau figures, while NAR fielded 380,800 in existing-home sales, also up from 378,300 year-over-year.
Numbers from the Mortgage Bankers Association reveal that refinance loan volume fell from 1.6 million last year to 1.3 million in February but markedly improved from 950,600 in January.
Purchase originations contracted from 498,000 in February last year to 431,500 this year, down from 582,600 month-over-month.
The Federal Housing Administration reported that refinance volume ticked down from 34,300 originations to 26,700 year-over-year, down from 31,400 in January.