According to The U.S. Department of Housing and Urban Development’s second quarter U.S. Housing Market Conditions report, housing showed signs of stabilization during the second quarter but the recovery, overall, remains fragile. During the second quarter of this year, existing home sales were up, while sales of new homes fell; building permits and housing starts both dropped; the national homeownership rate was down to 66.9 percent and inventories of available homes increased. HUD expressed concern about the shadow inventory, while noting government efforts, such as the Making Home Affordable program, have helped keep the number of foreclosures down. More here.