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94 STATE OF AFFAIRS: WEST » e group was careful to note that while concerns over the Bay Area's economy becoming another dot-com crash are possible, "traditional valuation measures are much different than they were during the run-up of the tech bubble in the late 1990s." e group cites a lower price/earnings ratio of the NASDAQ and the diversification of tech firms as signs of more stable growth for the economy and, thus, housing. California's April Home Sales Jump 20% from March In a new report from PropertyRadar on California single-family home sales, the company found that sales were up 20 percent in April from March. However, sales fell on a yearly basis for the month, declining 13.3 percent. Despite the gains in April, year-to-date sales volume is the lowest it has been since 2008. In April, distressed property sales jumped 13.1 percent month-over-month, while non-dis- tressed properties saw an increase of 21.8 percent. "Despite back-to-back double-digit sales gains in both March and April, total sales volume since January continues to lag sales in 2013," said Madeline Schnapp, director of economic research for PropertyRadar. "In fact, what is surprising to me is that year-to-date sales volumes in 2014 are the lowest since 2008." Median home prices still remain strong, up 2 percent for the month to $369,000—the high- est level in six years. Yearly, home prices have increased 14.1 percent. e company opines that driving the large increase in prices was higher- priced non-distressed property sales. "Despite lower sales volume, the median price of a California home continues to march higher," Schnapp said. "e rise in median home prices is being driven by the change in mix between the sales of distressed properties versus sales of non-distressed prop- erties. Higher-priced non-distressed property sales now dominate monthly sales numbers, so it should come as no surprise that median prices are up." e company also reports that nearly 1.2 million homeowners, or 13.5 percent, remain underwater. Institutional investor purchases jumped 7 percent for the month but are down 36.9 percent year-over-year. "Foreclosure sales gained 2.9 percent in April from March but are down 32.4 percent year-over-year. e April gain is statistically insignificant, likely due to the extra weekday in April compared to March," the company said. Colorado RANK: 48 90+ Day Foreclosure Unemployment Delinquency Rate Rate Rate APRIL 2014 1.24% 0.59% 6 YEAR AGO 1.48% 0.96% 6.9 YEAR-OVER-YEAR CHANGE -15.9% -38.4% -0.9 Top County LAS ANIMAS COUNTY 90+ Day Foreclosure Delinquency Rate Rate APRIL 2014 1.97% 1.95% YEAR AGO 2.72% 3.74% YEAR-OVER-YEAR CHANGE -27.4% -47.8% Top Core-Based Statistical Area PUEBLO, CO 90+ Day Foreclosure Delinquency Rate Rate APRIL 2014 2.08% 1.19% YEAR AGO 2.39% 1.52% YEAR-OVER-YEAR CHANGE -12.9% -21.9% 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 2014 foreclosure rate. All fi gures are rounded to the nearest decimal. The unemployment rate refl ects preliminary April 2014 fi gures released by the Bureau of Labor Statistics. All other data courtesy of LPS Data & Analytics. Colorado Marina Dubrova, CRS, CDPE, CIPS Broker/ Owner 333 S Allison Pkwy, #201 Lakewood, CO 80226 720-583-6010 offi ce | 720-583-2672 fax 720-936-0540 direct | 866-870-0933 e-fax www.coloradohomeswesell.com Hawaii RANK: 4 90+ Day Foreclosure Unemployment Delinquency Rate Rate Rate APRIL 2014 2.06% 4.53% 4.4 YEAR AGO 2.18% 5.85% 4.8 YEAR-OVER-YEAR CHANGE -5.6% -22.6% -0.4 Top County HAWAII COUNTY 90+ Day Foreclosure Delinquency Rate Rate APRIL 2014 2.41% 8.03% YEAR AGO 2.63% 10.72% YEAR-OVER-YEAR CHANGE -8.2% -25.1% Top Core-Based Statistical Area HILO, HI 90+ Day Foreclosure Delinquency Rate Rate APRIL 2014 2.41% 8.03% YEAR AGO 2.63% 10.72% YEAR-OVER-YEAR CHANGE -8.2% -25.1% 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 2014 foreclosure rate. All fi gures are rounded to the nearest decimal. The unemployment rate refl ects preliminary April 2014 fi gures released by the Bureau of Labor Statistics. All other data courtesy of LPS Data & Analytics. Idaho RANK: 29 90+ Day Foreclosure Unemployment Delinquency Rate Rate Rate APRIL 2014 1.38% 1.42% 5 YEAR AGO 1.72% 2.30% 6.4 YEAR-OVER-YEAR CHANGE -19.4% -38.5% -1.4 Top County MINIDOKA COUNTY 90+ Day Foreclosure Delinquency Rate Rate APRIL 2014 2.66% 3.19% YEAR AGO 1.98% 4.12% YEAR-OVER-YEAR CHANGE 34.8% -22.5% Top Core-Based Statistical Area BURLEY, ID 90+ Day Foreclosure Delinquency Rate Rate APRIL 2014 1.94% 3.08% YEAR AGO 1.47% 3.98% YEAR-OVER-YEAR CHANGE 32.2% -22.6% 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 2014 foreclosure rate. All fi gures are rounded to the nearest decimal. The unemployment rate refl ects preliminary April 2014 fi gures released by the Bureau of Labor Statistics. All other data courtesy of LPS Data & Analytics. There were 1,164,075 properties with an outstanding mortgage in the first quarter of 2014, according to CoreLogic. KNOW THIS