CoreLogic announced on Thursday September 16th, 2010 the inaugural release of its U.S. Housing and Marketing Trends report, a bi-monthly research report on housing sales, valuations, negative equity and foreclosure activity.
The report shows that distressed sales are at a seven month low, primarily due to the tax credit. Now that the tax credit extension has expired the distressed sales are expected to rise in the fall.
What are distressed sales? That includes, REO’s (real estate owned, which is a foreclosure) and short sales.
- In June the distressed sales share fell 24% of the overall sales. This is a decline from June of 2009, which peaked at 35%.
- As of June 2010, Las Vegas (61%) and Riverside (59%) continue to lead the nation in distressed sales for the largest 25 metropolitan markets.
- Phoenix (53%), Sacramento (51%) and Orlando (50%) were the only other markets where distressed sales accounted for the majority of home sales activity.
- Lowest distressed sale share included: Nassau (5%) and New York City (8%) followed by Baltimore (18%), Seattle (19%) and Minneapolis (19%).
The report also provides data on national, state, and top 25 cities on home prices, negative equity, delinquencies, pre-foreclosure filings and auction filings. Download report at www.corelogic.com/About-Us/ResearchTrends/US-Housing-and-Mortgage-Trends.aspx.
More questions?? we can help you, at County Properties, 24 years of brokerage experience, trust and a Member of the local Better Business Bureau! We offer free counseling in real estate regarding; home values and information on options of selling vs. Foreclosure.
Please feel free to contact us today for free counseling at (619) 540-5811
If you have equity in your home, we will sell your home and get top dollar in this challenging market at www.countyproperties.net/. If you do not have enough equity, and you must sell your property as a short sale we have the expertise to do so.
Learn more about mortgage relief options and how to take advantage of our FREE REALTOR (R) CONSULTATION & ATTORNEY SERVICE or go to www.ShortSaleRealtors4U.com