– Home sales increased in majority of largest U.S. markets last month –
SAN DIEGO, – March 25, 2014 – (RealEstateRama) — DataQuick®, a provider of advanced real estate information solutions powered by data, analytics and decisioning, announced in its monthly Property Intelligence Report (PIR) that home sales increased in 29 of the 42 reporting markets in February, up significantly from the 11 counties reporting improved sales numbers in January. However, overall sales have only increased in six markets over the last quarter and in 16 counties over the last year.
“While we saw a slight uptick from the extremely low sales levels reported in January, total sales remain far below historical levels,” said DataQuick’s vice president of analytics, Gordon Crawford, Ph.D. “Many underlying economic factors have contributed to decreased sales over the past year, including unsustainable home price growth. Though wide-spread price increases have started to level-off some in the early part of the year, annualized home price growth across all 42 reported markets remained high in February at 7.5 percent.”
A good example of the uneven sales landscape can be found in the market of Harris County, Texas (Houston), which saw month-over-month sales increase by nearly 15 percent from January, but still reported homes sales down more than 10 percent for the quarter and 17 percent for the year.
The PIR also reports that February foreclosure activity increased in some areas that had been experiencing consistent foreclosure decreases. In fact, foreclosures fell in only 19 of the 42 reporting counties last month compared to the 31 markets that saw decreased foreclosure activity in January. The most notable foreclosure increases were found in Lee Count, Fla. (Ft. Meyers), which saw a more than 63 percent jump in activity after being down nearly 45 percent last month and in Fulton County, Ga (Atlanta) where foreclosures increased by 42 percent last month after seeing declines of more than 38 percent in January.
DataQuick’s monthly Property Intelligence Report (PIR) leverages its national property database and analytics expertise to assess 42 of the largest counties in the United States using valuation trends, REO inventory trends and sales trends metrics. Other key findings for February include:
· Home price growth was positive in 38 of the 42 reported counties over the last month.
· Home price growth was positive in 40 of the 42 reported counties over the last quarter.
· Home price growth was positive in 39 of the 42 reported counties over the last year.
· Sales increased in 29 of the 42 reported counties over the last month.
· Sales increased in 6 of the 42 reported counties over the last quarter.
· Sales increased in 16 of the 42 reported counties over the last year.
· Foreclosures decreased in 19 of the 42 reported counties over the last month.
· Foreclosures decreased in 26 of the 42 reported counties over the last quarter.
· Foreclosures decreased in 27 of the 42 reported counties over the last year.
San Diego-based DataQuick, a Decision Insight Information Group company, delivers advanced information solutions powered by higher quality data, innovative analytics and automated decisioning across a national footprint. The company drives better decision making and improved profitability for the real estate, mortgage lending and secondary investor markets. DataQuick’s integrated solutions include property data and analytics, appraisals and non-appraisal evaluations, flood determinations, mortgage credit reports, automated valuation models, automated decisioning software, Title insurance and property information, property research portals and marketing tools. For more information, visit the company’s website at www.dataquick.com, on LinkedIn or on Twitter at @DataQuick.
About Decision Insight Information Group
Decision Insight Information Group, located in the U.S., Canada and Europe, delivers a comprehensive range of information, infrastructure and decision support products and services for financial and legal professionals. Operating at the heart of the property industry, Decision Insight Information Group manages complex information solutions and provides clarity on decision making for buying, selling, conveyancing, financing and insurance. Decision Insight Information Group companies include MSB and DataQuick in the U.S., Access Point Information Canada, SearchFlow, xit2 and Decision Insight Hub in the UK, Millar & Bryce in Scotland, Rochford Brady Group in the Republic of Ireland, Wertweiser, a joint venture with HVB Bank, in Germany, and Decision First, a joint venture with First Title, in the UK. Decision Insight Information Group has 1,100 employees in 16 offices. For more information, visit www.decisioninsightgroup.com. Decision Insight Information Group is a TPG Capital portfolio company.