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Report Finds Pattern of Consistent Housing Growth Spreading

NationalMortgageProfessional.com
Jul 22, 2013

According to DataQuick’s monthly Property Intelligence Report (PIR), overall housing performance saw continued improvements in the month of June; with home sales increasing in 40 of the report’s 42 examined counties. The provider of advanced real estate information solutions also reported expansion of increased home prices during the month, especially in the Northwest. In areas such as Seattle and Portland, Ore., year-over-year home prices are up by more than 17 percent. Over the same period, sales activity increased by roughly 21 percent in Seattle and more than 17 percent in Portland. “Despite lingering concern about the continued strength of the recovery, we are beginning to see a pattern of consistent housing growth spreading to more regions across the country,” said Gordon Crawford, Ph.D., vice president of analytics for DataQuick. “Last month, we focused on strong housing performance in the Rocky Mountain area, and we are now seeing that same kind of growth in the Northwest. In fact, nearly every market in the report saw home sale improvement of some kind during the month.” According to the PIR, the two counties that did not report an increase in June home sales were Queens County, N.Y. and Oakland County, Mich.—the county for the city of Detroit. 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. Other key findings for June include: ►Home price growth was positive in 40 of the 42 reported counties over the last month, quarter and year ►Sales increased in 40 of the 42 reported counties over the last month ►Sales increased in 36 of the 42 reported counties over the quarter ►Sales increased in 30 of the 42 reported counties over the last year ►Foreclosures decreased in 20 of the 42 reported counties over the last month ►Foreclosures decreased in 25 of the 42 reported counties over the last quarter ►Foreclosures decreased in 30 of the 42 reported counties over the last year
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