Foreclosure Activity Decreases as Sales Price Growth Continues to Slow Across Country
– DataQuick reports foreclosure decreases in most markets over the last year –
SAN DIEGO, – March 5, 2014 – (RealEstateRama) — DataQuick®, a provider of advanced real estate information solutions powered by data, analytics and decisioning, reports that foreclosures have decreased in 31 of the 42 reporting markets presented in the company’s monthly Property Intelligence Report (PIR) over the last month, quarter and year.
DataQuick shows the most significant decrease in foreclosure activity coming from Maricopa County, Ariz. (Phoenix), which has seen a more than 61 percent drop in foreclosures over the past year. Eleven other counties across the country have experienced foreclosure decreases of more than 50 percent since a year ago, including the markets of Los Angeles, Denver and Washington D.C.
“While indicators such as home price growth have fluctuated somewhat with each report, decreased foreclosure numbers have become a constant occurrence as the market slowly recovers,” said DataQuick’s vice president of analytics, Gordon Crawford, Ph.D. “However, though most markets are seeing month-to-month decline in foreclosures, those counties where foreclosure activity is actually growing are experiencing rapid foreclosure increases. For example, the counties of Long Island, New York and Portland, Oregon have seen a roughly 100 percent increase in foreclosure activity over the past year.”
Along with general decreases in foreclosure numbers across the country, the PIR also shows that home price growth continued to level-off in January as price growth slowed in nearly all markets and even turned negative in others. The average annualized home price growth across all 42 reporting markets dropped from 9.9 percent in December to 8.9 percent last month.
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 January include:
· Home price growth was positive in 41 of the 42 reported counties over the last year
· Sales increased in 11 of the 42 reported counties over the last month
· Sales increased in 2 of the 42 reported counties over the last quarter
· Sales increased in 9 of the 42 reported counties over the last year
· Foreclosures decreased in 31 of the 42 reported counties over the last month, and quarter, and 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.