Restoration of the Housing Market Halfway Complete According to Trulia

By Stevie Duffin Updated on 12/24/2012

According to an analysis by Trulia of several key pieces of housing data, the housing market has made a 51% recovery from the lowest point of the housing crisis and pre-crisis measurements.

Trulia utilized three factors in its November Housing assessment, including construction starts, sales of existing homes, and delinquencies combined with foreclosures.

Across the nation, construction starts rose 14% in October and November during the Sandy superstorm, although the Northeast region declined 5% during this period. However, national home sales jumped up 7% during the past two months, while these sales were only 3% higher in the Northeast.

Compared with last year's statistics, November home starts increased 22% nationwide, and according to the Trulia "barometer," housing starts have recovered 37% from their lowest point.

Sales of existing homes reached 5.04 million in November, achieving a 3 year peak for the month as it rose to levels unseen since 2009. Sales have made a significant recovery, gaining 73% back toward normalcy as distressed sales continue to decline and become a smaller ratio of overall home sales.

The rate of combined delinquency and foreclosure plummeted 10.63%, reaching the lowest level in four years and climbing 41% toward pre-crisis levels, while the housing market in general has recovered approximately 47%.