State
of Affairs
PRESENTS
TOP NEWS
Certain regions that once dragged the housing market down are expected to start giving the industry a lift
while national home values are expected to start leveling, according to forecasts from Veros Real Estate Solutions. The
valuation company says Phoenix is expected to appreciate the most over the 12-month period ending May 2013, with home
prices there up 6.4 percent. Veros says a reduced housing supply—down more than 70 percent from its peak—and high levels
of affordability have made Phoenix the nation's top-performing major market. Veros says Texas, Colorado, North Dakota,
South Dakota, Nebraska, and Oklahoma are experiencing the most strength in their housing markets, with Texas cities
such as Houston, Austin, and Dallas as well as Denver and Boulder, Colorado, showing stability. The Reno-Sparks region
in Nevada is expected to move in the opposite direction with homes there depreciating 5 percent by the end of May. Nevada
and Inland California are home to eight of the 10 bottom markets in Veros' forecast. The company says metro areas expected
to disappoint in the coming year include Atlanta, Chicago, and Philadelphia.
Note: The state-by-state trends are based on a compilation
of May 2012 real estate public records data and proprietary
mortgage loan performance transactions provided by
Lender Processing Services, Inc. as well as a preliminary
unemployment rate for May 2012 based upon public information
from the Bureau of Labor Statistics.
Lender Processing Services, Inc. (LPS) is a provider of mortgage and consumer loan processing
services, mortgage settlement services, default solutions, and loan performance analytics, as well as solutions
for the real estate industry, capital markets investors, and government offices. Formed from a 2008 spin-off,
LPS' predecessor companies date back nearly half a century to the early beginnings of computing and
statistical services. LPS' high-performance technology, robust data, innovative services, and award-winning
customer support are why most of the nation's top 50 banks have chosen LPS to provide the solutions they
need in today's competitive marketplace. To learn more about LPS visit lpsvcs.com.
