The national negative equity rate ended 2013 below 20 percent for the first time in years, dipping to 19.4 percent of all homeowners with a mortgage, according to the fourth quarter Zillow Negative Equity Report. Nationally, more than 9.8 million homeowners remain underwater, owing more on their mortgage than their home is worth. Negative equity has fallen for seven consecutive quarters as home values have risen, freeing almost 3.9 million homeowners nationwide in 2013.Click to continue
RealtyTrac released its January 2014 Residential & Foreclosure Sales Report, which shows that institutional investors — defined as entities purchasing at least 10 properties in a calendar year — accounted for 5.2 percent of all U.S. residential property sales in January, down from 7.9 percent in December and down from 8.2 percent in January 2013.
The January share of institutional investor purchases represented the lowest monthly level since March 2012 — a 22-month low.Click to continue
The Demand Institute recently published a 96-page report detailing the importance of housing for the American people. Housing, by their definition, takes into consideration apartments, estates, everything in between.Click to continue
HOPE NOW released its final 2013 loan modification data, which shows that approximately 768,000 homeowners received permanent, affordable loan modifications from mortgage servicers in 2013. The reported data for December shows that, for the year, mortgage servicers completed approximately 592,843 proprietary loan modifications for homeowners and 175,076 Home Affordable Modification Program (HAMP) modifications (as reported by US Treasury Department). December data also showed approximately 281,000 short sales completed for the year.Click to continue
RealtyTrac has released its U.S. Foreclosure Market Report for January 2014, which shows foreclosure filings were reported on 124,419 U.S. properties in January an eight percent increase from December but still down 18 percent from January 2013. The report also shows one in every 1,058 U.S. housing units had a foreclosure filing during the month.Click to continue
CoreLogic has released its December CoreLogic Home Price Index (HPI) report which found that year-over-year, home prices nationwide, including distressed sales, increased 11 percent in December 2013 compared to December 2012. This change represents the 22nd consecutive monthly year-over-year increase in home prices nationally. On a month-over-month basis, home prices nationwide, including distressed sales, decreased by 0.1 percent in December 2013 compared to November 2013.Click to continue
The Data and Analytics division of Black Knight Financial Services (formerly the LPS Data & Analytics division) has reported the following "first look" at December 2013 month-end mortgage performance statistics derived from its loan-level database representing approximately 70 percent of the overall market.Click to continue
Southern California home sales fell to a six-year low for the month of December as investor activity eased again and buyers struggled with a tight inventory of homes for sale. The median price paid for a home jumped to the highest level in nearly six years, the result of demand outstripping supply, declining distress sales and a slight increase in the share of sales in mid- to high-end areas, according to San Diego-based DataQuick.Click to continue
An estimated 33,429 new and resale houses and condos sold statewide last month. That was down 8.3 percent from 36,468 in October, and down 10.8 percent from 37,481 sales in November 2012, according to San Diego-based DataQuick. October sales have varied from a low of 25,578 in 2007 to a high of 60,326 in 2004. Last month's sales were 15.1 percent below the average of 39,357 sales for all the months of November since 1988, when DataQuick's statistics begin. California sales haven’t been above average for any particular month in more than seven years.Click to continue
Overall U.S. foreclosure activity is down 23 percent year-to-date through October 2013, but foreclosure activity on homes in the $5 million-plus value range is up 61 percent from the same time period in 2012.
The number of these ultra high-end properties with a foreclosure notice in 2013 is relatively miniscule — fewer than 200 compared to 1.2 million total properties in all value ranges with foreclosure notices this year — but each of these high-value homes represents a much bigger potential loss for the foreclosing lender compared to a median priced home.Click to continue