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Blog Entries by Molly Boesel

Far From Normal

Very Few Metro Areas Have REO Shares Close to Pre-Crisis Levels

Molly Boesel    |    Mortgage Performance

During the worst point of distress the housing crisis in 2009, real estate-owned (REO) sales made up 28 percent of total homes sold nationally. In some metropolitan areas, the REO share peaked at around 70 percent. As the housing market continues to heal, are we now able to say that REO sales are trending back to a more normal level? As of February 2015, the national REO sales share was 10...

February Distressed Sales Shares Resemble 2008 Levels

REO and Short Sales Accounted for 14 Percent of Homes Sold Nationally

Molly Boesel    |    Mortgage Performance

Distressed sales—real estate-owned (REO) and short sales—accounted for 13.5 percent of total home sales nationally in February 2015, a 3 percentage point drop from February 2014 and a 0.8 percentage point decrease from January 2015. Distressed sales shares typically decrease month over month in February due to seasonal factors. The February 2015 distressed sales share was the...

National Foreclosure Inventory Down 27 Percent Year Over Year in February

Florida Experiences Largest Year-Over-Year State Improvement

Molly Boesel    |    Mortgage Performance

Today CoreLogic reported that the national foreclosure inventory fell by 27.3 percent year over year in February 2015 to approximately 553,000 homes, or 1.4 percent of all homes with a mortgage, down from 761,000, or 1.9 percent, in February 2014. This marks 40...

Cash Sales Made Up 39 Percent of All Home Sales in January 2015

Share Fell by 2.6 Percentage Points Year Over Year

Molly Boesel    |    Housing Trends

Cash sales made up 38.9 percent of total home sales in January 2015, down from 41.4 percent in January 2014.  The year-over-year share has fallen each month since January 2013, making January 2015 the 25th consecutive month of declines. Month over month, the cash sales share increased by 3.2 percentage points, which is typical in the month of January. Due to seasonality in the housing...

Distressed Sales Accounted for 14 Percent of Total Home Sales in January 2015

The Distressed Sales Share Has Fallen on a Year-Over-Year Basis Every Month Since July 2011

Molly Boesel    |    Mortgage Performance

Distressed sales (REO and short sales) accounted for 14 percent of total home sales nationally in January 2015, a 3.1 percentage point drop from January 2014 and a 0.8 percentage point increase from December 2014. Distressed sales shares are typically higher in January than they are in December due to seasonal factors. The January 2015 distressed sales share was the lowest for any month of...

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