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Housing market lags in Vermont's economic recovery

Posted by: Leslie Black-Plumeau on August 4, 2010 - 11:06am

reportEven though the state’s economy is recovering by many indicators, economists project a continued decline in Vermont home prices and foreclosure rates hovering at an all-time high through at least mid-2011.

All states except North Dakota experienced home sales declines in January-March 2010 relative to 12 months earlier, according to Federal Housing Finance Agency repeat sales indices.

The extent of Vermont’s home price decline has been far less severe than most states. In fact, only seven states fared better when looking at the Federal Housing Finance Agency’s first quarter 2010 data.

For more information about these results and for descriptions of other economic indicators, see the full report: July 2010 Economic Review and Revenue Forecast Update by Kavet, Rockler and Associates.