Skip to main content

Foreclosures Drop While Home Prices Inch Up

Phil Hall
Jul 24, 2018
The housing markets in 21 of the nation’s largest 35 metros have more than recovered from the 2008 economic meltdown, according to a new data analysis from Zillow

Two new housing data reports finds a dramatic plummet in foreclosure activity and a relatively mild uptick in home prices.
 
First, on the foreclosure front: Black Knight Inc. reported that foreclosure starts fell by 3.1 percent in June to 43,5000, the lowest single-month total since 2001. Active foreclosures dropped below 300,000 for the first time in nearly 12 years, while the inventory of loans in active foreclosure slid by 30 percent on an annualized measurement.
 
Black Knight also determined the total delinquency rate was 3.74 percent in June, up by 2.71 percent from May but down by 1.59 percent from a year ago. Furthermore, 90-day delinquencies reversed their rise following last year’s hurricane season and fell to a new post-recession low.
 
Separately, the Federal Housing Finance Agency reported that house prices rose in May were up 0.2 percent from the previous month. The previously reported 0.1 percent increase in April was revised upward to 0.2 percent. 
 
For the nine census divisions, seasonally adjusted monthly price changes from April to May ranged from a 0.6 percent decline in the East North Central division to 1.5 percent increase in the East South Central division. On a 12-month measurement, all census divisions recorded increases, ranging from 4.9 percent in the West South Central division to 9.1 percent in the Mountain division.

 
Published
Jul 24, 2018
FormFree Enters Deal To Offer Products to Lenders One Members

Mortgage Cooperative Hopes Automated Borrower Verification Tools Will Enhance Customer Experience

Industry News
Aug 03, 2021
AHP Servicing Names Charles Halko Jr. CFO

Brings 30-Years Of Experience to Chicago-Based Servicer

Industry News
Aug 03, 2021
Ready Capital Announces Deal To Acquire Red Stone

Real Estate Finance Company Expands In Multi-Family Affordable Housing Sector

Industry News
Aug 03, 2021
Anchor Loans Hires Andrew Jewett As SVP, Enterprise Sales

Formerly lead lending at Sundae Inc.

Industry News
Aug 02, 2021
Pretium Adds 3 Execs With Residential Credit Expertise

New Hires Will Serve As Managing Directors

Industry News
Aug 02, 2021
loanDepot And mellohome Introduce Home Services Bundle

loanDepot, Inc. and its sister company mellohome are launching a proprietary bundle of home buying and selling services.

Industry News
Jul 30, 2021