The housing recovery is now 54% back to normal in April, down from 56% in March due to the sharp drop in new home starts. Trulia's Jed Kolko writes that construction starts dropp to 853,000, down 16% from March. Existing home saled inched up slightly month-over-month, while non-distressed sales increased 25% year-over-year. The delinquency rates + foreclosure rates dropped sharply to the lowest level since September 2008.

To read the full report from Trulia (TRLA), click here.