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Housing recession eases as June signals mixed recovery
The report notes a slowing economy in the second quarter of 2008 with 41 percent of counties above the Stress threshold in June, down from May, while the national economy shrank 1 percent. Foreclosure rates held steady in Arizona California and Florida, with California housing improving aided by 20 percent sales rise and monthly price gains. Nevada Michigan and California show high distress, while North and South Dakota Nebraska remain least stressed. County Labor and bankruptcy trends reflect factory closures and job losses, especially in Imperial Merced Yuma Yuba and Lauderdale Counties. Riley County Kansas posts the lowest Stress score, highlighting regional contrasts amid a national housing downturn.
MENTIONED IN THIS ARTICLE
Arizona
California
Florida
Jim Diffley
IHS Global Insight
California Realtors Association
Steve Goddard
The
Realtors’ Association
Nevada
Georgia
Utah
Diffley
Tennessee
Michigan
North Dakota
South Dakota
Nebraska
Oregon
Imperial County
Calif
Imperial
U.S
Merced County
Yuma County
Ariz
Yuba County
Lauderdale County
Tenn
Leslie Sigman
Bank of Ripley
Riley County
Kan
Army
Fort Riley
Kansas State University
Brown County
S.D
Brookings County
Ward County
N.D
Burleigh County
Bismarck
Plains
Texas
Howard County
Ind
Williams County
Ohio
Union County
S.C
Chester County
Noble County