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Looking forward, Kelly said the future only looks brighter. "RE/MAX adapted to the market over the last few years and trained our agents to succeed. That training paid off, and our agents are now the best positioned for a real estate market that is coming back strong," she said. Median home prices in January continued to stay above year-ago levels while falling month-over-month, according a company report. At the same time, inventory remained low, causing a shortage in supply while pushing up home prices, RE/MAX explained. At $155,000, the median sales price in January sat 6.6 percent below December's sales price, but it was still 8 percent higher compared with January 2012. RE/MAX's report surveys 52 large metro areas nationwide. Out of all the metros tracked, the company found 44 saw year-overyear price growth, and 26 registered doubledigit price gains. Metros that saw prices surge from the year before included San Francisco (+39.2 percent), Atlanta (+38.9 percent), Detroit (+31.1 percent), Phoenix (+29.1 percent), Boise (+28.7 percent), and Las Vegas (+28.6 percent). Inventory trended downward monthover-month for 31 consecutive months in January after falling 5.1 percent from December. Inventory is also 28.9 percent lower than year-ago levels. RE/MAX also reported months' supply of homes available for sale is now at 5, down from the 5.7-month supply in December and 7.3 last year. Metros where supply is extremely low include San Francisco, where months' supply is 1.1, as well as Los Angeles (1.5), Denver (1.8), San Diego (2.2), and Washington, D.C. (2.2). Home sales stayed true to seasonal trends and fell 22 percent from December but were still up 9.1 percent from January 2012. The yearly increase marks the 19th straight month of yearly improvements in sales. Out of the 52 metros tracked, 41 saw annual increases in sales, with 31 experiencing double-digit gains. Metros where sales spiked over a one-year period included Billings, Montana (+62 percent); Albuquerque (+45.6 percent); Chicago (+39.2 percent); Raleigh, North Carolina (+33.4 percent); and Charlotte, North Carolina (+29.2 percent). "We saw a strong start to 2012 last January, and this year is starting with an even higher number of sales and increased prices," said Kelly. "Such an impressive start to the new year is hopefully pointing to an even stronger performance for the entire year. Expect the 2013 housing market to continue the solid recovery that began one year ago." 84 Connecticut Delaware rank: 8 90+ Day Delinquency Rate Foreclosure Rate January 2013 3.18% rank: 19 Unemployment Rate 5.00% 8.1% 90+ Day Delinquency Rate Foreclosure Rate January 2013 3.86% 3.16% year ago 2.90% 5.44% 8.2% 3.29% 3.66% -1.2% 17.1% -13.7% Top County KenT CounTy Foreclosure Rate 90+ Day Delinquency Rate January 2013 7.75% 5.50% 4.08% year ago 7.83% 4.24% year-over-year change -4.8% 4.51% year-over-year change -1.0% Top Core-Based Statistical area 29.9% -9.7% Top Core-Based Statistical Area WillimanTiC, CT 90+ Day Delinquency Rate Dover, De Foreclosure Rate 90+ Day Delinquency Rate January 2013 4.35% 7.75% 5.50% 4.08% year ago 7.83% 4.24% year-over-year change -4.8% Foreclosure Rate January 2013 year ago 4.56% Foreclosure Rate January 2013 year ago 4.56% 1.4% Top County Windham CounTy 4.35% 7.1% year-over-year change -8.1% 90+ Day Delinquency Rate 7.2% year ago year-over-year change 9.7% Unemployment Rate 4.51% year-over-year change -1.0% 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 January 2013 foreclosure rate. All figures are rounded to the nearest decimal. The unemployment rate reflects preliminary January 2013 figures released by the Bureau of Labor Statistics. All other data courtesy of Lender Processing Services. IN THE NEWS Connecticut Home Sales Hit 5-Year High Connecticut saw single-family home sales reach a five-year high in January, according to data from The Warren Group. Home sales at the start of the year rose 14 percent to 1,519, the highest level since January 2008 when there were 1,653 recorded sales. The gain also marks the 13th straight month of increases. "We ended 2012 on a pretty positive note, and this is carrying into January," said Timothy M. Warren Jr., CEO of The Warren Group. "Recent pending sales data are a hopeful sign for a strong spring market. And given low mortgage rates and steady prices, there are positive signs that 2013 will be a second year of recovery." Warren also added low inventory is driving up prices. In January, the median sales price for single-family homes in the state increased for the fourth straight month, rising by 2.4 percent from a year ago to $215,000. 29.9% -9.7% 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 January 2013 foreclosure rate. All figures are rounded to the nearest decimal. The unemployment rate reflects preliminary January 2013 figures released by the Bureau of Labor Statistics. All other data courtesy of Lender Processing Services. IN THE NEWS Prommis Holdings Files for Chapter 11 Bankruptcy Prommis Holdings Inc., along with 10 of its affiliates, filed for Chapter 11 bankruptcy protection in U.S. Bankruptcy Court in Delaware. Bloomberg first reported the story Monday and revealed the company listed debt of more than $50 million and assets of as much as $50 million in the filed documents. Prommis provides technology-enabled processing services for the default resolution sector of the mortgage industry. The company's main customers include law firms with large mortgage default resolution practices and some of the largest mortgage servicers. According to court documents, Atlantabased Prommis, in consultation with its lenders, decided to commence the Chapter 11 cases to pursue a sale of all or nearly all of their assets and an orderly transition of their employees in an effort to preserve over 710 jobs, or as many jobs as possible. The company would also like to wind-down their businesses through a Chapter 11 plan of liquidation.