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Colorado rank: 47 90+ Day Delinquency Rate Foreclosure Rate April 2013 1.5% Unemployment Rate 1.0% 6.9% year ago 1.9% 1.6% 8.2% year-over-year change -20.1% -41.1% -15.9% Top County Las animas CounTy 90+ Day Delinquency Rate Foreclosure Rate April 2013 2.7% 3.7% year ago 2.4% 2.2% year-over-year change 15.7% 69.8% Top Core-Based statistical area Canon CiTy, Co 90+ Day Delinquency Rate Foreclosure Rate April 2013 1.6% 1.7% year ago 1.7% 2.1% year-over-year change -6.5% -19.7% note: The 90+ day delinquecy rate is the percentage of outstanding mortgage loans that are seriously delinquent. The foreclosure rate is the percentage of outstanding mortgage loans currently in foreclosure. State rank is based on the April 2013 foreclosure rate. All figures are rounded to the nearest decimal. The unemployment rate reflects preliminary April 2013 figures released by the Bureau of Labor Statistics. All other data courtesy of LPS Applied Analytics. 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 IN THE NEWS Inventory Finally Shows Signs of Growth in April While low inventory continues to curb home sales, April may have shown the first hints of a turnaround in the supply situation, Denver-based RE/MAX said in its National Housing Report. According to RE/MAX's figures, taken from a survey of multiple listing service 70 (MLS) data from 52 U.S. metro areas, the months' supply of homes for sale was 3.6 at April's sales pace—the lowest supply since the company launched its National Housing Report in August 2008. (Generally, a balanced supply is considered six months in a healthy market.) However, RE/MAX observed a monthly increase in April in the overall number of homes for sale—the first since June 2010. In addition, the year-over-year drop in inventory was 26.6 percent—the lowest annual decline recorded in the last 12 months, perhaps marking a turning point for housing supply. "Low inventories contribute to a limited growth in sales, preventing some buyers from closing on the home of their choice. But if inventories can rise to a more balanced level, the recovery should strengthen and experience even more home sales," RE/ MAX said in its report. Closed transactions and prices continued to rise on both a monthly and yearly basis. April's report shows an 8.1 percent increase in closed transactions compared to March and a 10.5 percent increase from April 2012. Agents reporting to RE/MAX noted increased traffic and said they expect this summer selling season to be even stronger than last year's. Of the 52 areas surveyed by RE/MAX, 41 reported higher sales volume than in April 2012, and 25 reported double-digit gains, including Honolulu, Hawaii (53.2 percent); Burlington, Vermont (40.3 percent); Albuquerque, New Mexico (40.2 percent); Charlotte, North Carolina (39.4 percent); and Raleigh and Durham, North Carolina (38.1 percent). Meanwhile, the median price for all homes sold in April was $177,200, a 4.7 percent monthly increase and a 10.7 percent yearly rise. April marks the 15th month the national median price has increased on an annual basis. Of the 52 areas surveyed, only four posted year-over-year declines in median price: Los Angeles, California (-9.1 percent); Albuquerque, New Mexico (-6.3 percent); Cleveland, Ohio (-1.8 percent); and Providence, Rhode Island (-0.3 percent). Out of the remaining metros, 21 reported double-digit price gains. "April was exactly what we needed at this time in the housing recovery. Home sales and prices continued to rise, while we started to see improvement in the number of homes for sale," said Margaret Kelly, CEO of RE/MAX. Connecticut rank: 6 90+ Day Delinquency Rate Foreclosure Rate April 2013 2.9% Unemployment Rate 5.1% 8.0% year ago 2.6% 5.7% 8.2% year-over-year change 10.7% -10.2% -2.4% Top County Windham CounTy 90+ Day Delinquency Rate Foreclosure Rate April 2013 3.8% 7.8% year ago 3.9% 8.4% year-over-year change -1.9% -8.0% Top Core-Based Statistical area WillimanTiC, CT 90+ Day Delinquency Rate April 2013 3.8% Foreclosure Rate 7.8% year ago 3.9% 8.4% year-over-year change -1.9% -8.0% note: The 90+ day delinquecy rate is the percentage of outstanding mortgage loans that are seriously delinquent. The foreclosure rate is the percentage of outstanding mortgage loans currently in foreclosure. State rank is based on the April 2013 foreclosure rate. All figures are rounded to the nearest decimal. The unemployment rate reflects preliminary April 2013 figures released by the Bureau of Labor Statistics. All other data courtesy of LPS Applied Analytics. IN THE NEWS Connecticut Home Sales Fall in Q1, Median Prices Rise Sales for single-family residences in Connecticut dropped in Q1 2013, marking the first decrease since the fourth quarter of 2010, the Warren Group reported. Single-family home sales in the state fell year-over-year by 3.5 percent to 4,067 during the first three months of this year. "Low inventory is plaguing housing markets all over the country, and Connecticut is no exception," said Timothy M. Warren Jr., CEO of the Warren Group. "With mortgage rates low and prices rising, we're hopeful more sellers will emerge and the trend in dropping home sales will reverse." Although sales were down, prices were up. The median price for a single-family home in Connecticut rose by 9.3 percent to $235,000 in the first quarter, up from $215,000 a year earlier. "It's clear that the low supply of homes for sale is continuing to pressure prices," Warren added. "And there is definitely concern that such steep price spikes will cause an affordability issue."