New data from the U.S. Census Bureau and the Department of Housing and Urban Development suggests the housing market still has significant ground to make up before it fully recovers.
According to the latest housing report, new housing starts fell 10.6 percent last month when compared to March, and 23.9 percent since April of last year. The seasonally adjusted rate was recorded at 523,000 – less than half the mark needed for economists to view the market as healthy, USA Today reports.
Single-family housing starts fell 5.1 percent in April to 394,000, which doesn't bode well for the market considering these starts account for roughly 80 percent of home construction, the news source reports.
Many families are struggling with their finances and are unable to secure funds to build a new home because they have bad credit. In order to improve their chances of receiving funds for a house, some consumers may want to see if they qualify for credit repair.
If an individual finds any questionable or problematic items on their credit reports that were either reported in error or without following federal protocols, he or she may have grounds for removing the mark. Spotting these unfair items can sometimes be tricky, which is why some individuals will work with a credit repair attorney to facilitate the repair process.