Home sales increase in April, according to @DataQuick’s monthly Property Intelligence Report, but uncertainty factors still plague buyers
@DataQuick reveals home sales, home price growth up and number of foreclosures down for April Property Intelligence Report
SAN DIEGO – May 30, 2013 – (RealEstateRama) — Home sales increased last month compared to March, according to DataQuick’s April Property Intelligence Report (PIR), yet domestic issues and uncertainty factors continue to stop sales from reaching their full market potential.
DataQuick®, a provider of real estate information solutions powered by data, analytics and decisioning, also reported that home price growth continued to increase and the number of foreclosures continued to decrease in April; an ongoing stabilization the market has been experiencing the past two months.
“The increase of sales in April is a sign of improvement; however, the continued strength and growth is questionable given impeding factors that prevent investors, sellers and buyers from actively participating in the market,” said Gordon Crawford, Ph.D., vice president of Analytics for DataQuick. “Job security, tax increases and uncertainty surrounding domestic fiscal issues, continue to hinder growth and will contribute to eventual reductions in the demand for housing.”
Crawford highlights that strict mortgage credit requirements and only moderate, increasing employment numbers decrease borrower chances of seeking and being able to purchase a house.
“The low levels as to which sales are increasing reflect tight supplies on the market, multiple offers for listed houses and homes selling at prices that are in excess of the asking price,” said Crawford. “Potential sellers aren’t entering the market as prices rise, because of their uncertainty and/or negative equity.”
DataQuick’s 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. Key findings for April include:
· Home price growth was positive in 28 of the 42 reported counties over the last month
· Home price growth was positive in 28 of the 42 reported counties over the last quarter
· Home price growth was positive in 30 of the 42 reported counties over the year
· Sales increased in 21 of the 42 reported counties over the last month
· Sales increased in 11 of the 42 reported counties over the last quarter
· Sales increased in 23 of the 42 reported counties over the last year
· Foreclosures decreased in 25 of the 42 reported counties over the last month
· Foreclosures decreased in 29 of the 42 reported counties over the last 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.