WASHINGTON — Housing and Urban Development Secretary Shaun Donovan defended efforts by the Obama administration to help the housing market recover, arguing it faced significant hurdles over the past four years.

"Despite the fact that our progress has not been made in a straight line, it's clear that housing is stronger than most expected it to be at the time when the president took office," Donovan said in a speech at a housing conference hosted by the American Action Forum. "There were challenges along the way. But today housing is in a significantly better position, by this measure, home prices, than most economists and market analysts expected at that time."

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.