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IRVINE, CA-Bullish as recent reports may have been from sources such as Case-Shiller and the National Association of Realtors, a new study from Auction.com Research finds that the US housing recovery faces some choppy waters ahead. Prepared by managing director Peter Muoio, the report notes weaknesses in recent statistics; for example, homeownership actually ticked downward in the second quarter to 65.1% of US households from 65.2% in Q1.

“Mortgages still remain hard to obtain and many consumers have damaged credit ratings and many households remain skittish about purchasing a home,” Muoio writes. And although job growth has been “fairly good,” he adds, wage growth continues to be weak and job gains have slowed in recent months. “Further, the impressive increases in household formations we saw in 2011 and early 2012 have slowed significantly.”

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