The August edition of the Obama administration’s comprehensive housing report has been issued.

The report, released by the Department of Housing and Urban Development (HUD) and the Department of the Treasury, shows mixed results.

In summary, it reported a level in housing prices in July – a change following 30 months of decline. It also said record low interest rates are helping housing and refinancing become more affordable. However, the Obama Administration’s Housing Scorecard also cautioned threats brought by foreclosures and the rise in serious delinquencies.

HUD Assistant Secretary Raphael Bostic warned that despite some stabilization in the housing market, it remains clear that a lot of work is yet to be done. “Through the Obama Administration’s efforts over the past 16 months, we have seen increased price stabilization and improved home affordability for prospective, qualified homebuyers. At the same time, we know that we must continue to provide support to underwater borrowers, unemployed homeowners, and to the nation’s hardest hit neighborhoods.”

Some of the other highlights in the report include a note on improving expectations in some areas across the country. According to the scorecard, although predictions remain mixed, there has been an upward shift in futures indices this year – indicating the possibility of a recovery.

As for foreclosures, they slightly increased in July. However, their level is still relatively lower compared to the same month last year.

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