DSNews delivers stories, ideas, links, companies, people, events, and videos impacting the mortgage default servicing industry.
Issue link: http://digital.dsnews.com/i/105636
IN THE NEWS Colorado rank: 47 90+ Day Foreclosure Unemployment Delinquency Rate RateRate may 2012 1.91%1.60% 8.1% year ago 2.13%1.83% 8.4% percent point change -10.1%-12.7% -3.6% Top County HUERFANO COUNTY 90+ Day Delinquency Rate Foreclosure Rate may 2012 1.82%2.72% year ago 0.71%2.25% percent point change 158.1%21.0% Top Core-Based Statistical Area GRAND JUNCTION, CO 90+ Day Foreclosure Delinquency Rate Rate may 2012 2.32%2.39% year ago 2.80%2.37% percent point change -17.2%0.7% note: The 90+ Day delinquecy rate is the percentage of outstanding mortgage loans that are 90plus days delinquent. The foreclosure rate is the percentage of outstanding mortgage loans currently in foreclosure. State rank is based on the May 2012 foreclosure rate. All figures are rounded to the nearest decimal. The unemployment rate reflects preliminary May 2012 figures released by the Bureau of Labor Statistics. All other data courtesy of Lender Processing Services. Colorado Re/Max Alliance & The Haas Team ZAC BROWN 303-456-7790 Direct || 303-619-4803 Cell www.zacbrownrealestate.com www.thehaasteam.com zaclbrown@aol.com KNOW THIS Denver's Native American Bank was one of only three institutions to receive an "outstanding" rating for meeting the credit needs of its entire community, the OCC says. 80 RE/MAX: Housing Recovery 'In Full Swing' The national housing market recovery is "in full swing," according to the June edition of RE/MAX's National Housing Report. The report, revealed that May saw increases in both home sales and median home prices for 42 of the 53 surveyed metropolitan markets. For the fourth consecutive month, the RE/MAX report found an overall increase in median home price across the country. In May, the national median home price was $166,500, a 6.1 percent increase year-over-year and a 4.1 percent increase month-over-month. Of the 53 metros surveyed, a record 46 showed rises in median home price, with nine seeing double-digit increases. RE/MAX found closed transactions across the United States also rose in May, with markets showing an overall increase of 12.6 percent from April and 12.8 percent from May 2011. May 2012 marked the 11th straight month of year-over-year home sales gains. Forty-eight of the surveyed metros saw increases in home sales, with doubledigit increases for 38 of those. Days-on-market—the number of days between the first listing of a home in an MLS and the day a sales contract is signed—fell in May to 92, down from 96 in April and 94 in May 2011. In the last year, the average days-on-market fell below 90 just twice, with July and September 2011 both seeing an average of 88 days. This level may be reached again during this summer as transactions rise and inventory falls, according to RE/MAX. The inventory of homes fell 4.2 percent from April and 26.6 percent from levels seen in May 2011. The RE/MAX report explained that inventory continues to drop because fewer foreclosure properties are coming to market. May marked the 23rd month in a row in which inventories fell month-to-month. With the current rate of sales, the average months' supply is now 4.9 by RE/MAX's assessment. Months' supply is the number of months it would take to clear a market's active inventory at the current rate of sales, with six months being considered a balanced market between buyers and sellers. Given all these factors, the market recovery may be considered well under way, according to RE/MAX CEO Margaret Kelly. "Clearly, 2012 is the year the housing industry has been waiting for; there's a broad-based recovery taking hold," Kelly said. "This recovery may not bring improvement in all sectors to all markets at the same time, but most markets across the country are experiencing the best selling season they've seen in years." Connecticut rank: 7 90+ Day Foreclosure Unemployment Delinquency Rate RateRate may 2012 2.75%5.61% 7.8% year ago 3.54%4.18% 8.9% percent point change -22.3%34.2% -12.4% Top County WINDHAM COUNTY 90+ Day Delinquency Rate may 2012 Foreclosure Rate 4.04%8.22% year ago 5.16%5.40% percent point change -21.6%52.2% Top Core-Based Statistical Area NORWICH-NEW LONDON, CT 90+ Day Foreclosure Delinquency Rate Rate may 2012 2.84%6.46% year ago 3.70%4.44% percent point change -23.2%45.5% note: The 90+ Day delinquecy rate is the percentage of outstanding mortgage loans that are 90plus days delinquent. The foreclosure rate is the percentage of outstanding mortgage loans currently in foreclosure. State rank is based on the May 2012 foreclosure rate. All figures are rounded to the nearest decimal. The unemployment rate reflects preliminary May 2012 figures released by the Bureau of Labor Statistics. All other data courtesy of Lender Processing Services. STAT INSIGHT 690 Days allowed by the GSEs to complete foreclosure in Connecticut. Source: Fannie Mae and Freddie Mac