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Housing's Golden Investment or Fairy Tale?

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90 STATE OF AFFAIRS: SOUTH/WEST ยป Arden-Arcade, California; San Rafael, California; Santa Rosa, California; and Lubbock, Texas. e worst metros all share some similar indicators of why they are underperforming. "e bottom 10 are fairly consistent in three indicators: sales change percentage; active days on market percent change; and, foreclosure ratio percent change," O'Grady said. "Sales are slowing down, days on the market are growing, and the percentage of foreclosure sales are increasing, all leading to a softer market." e bottom-performing metros on ProTeck's list include Akron, Ohio; Flint, Michigan; Gary, Indiana; Hagerstown- Martinsburg, Maryland/West Virginia; and Jacksonville, North Carolina. Virginia RANK: 44 90+ Day Foreclosure Unemployment Delinquency Rate Rate Rate MAY 2014 1.79% 0.62% 5.3% YEAR AGO 2.08% 0.92% 5.7% YEAR-OVER-YEAR CHANGE -14.1% -32.8% -0.4% Top County EMPORIA CITY 90+ Day Foreclosure Delinquency Rate Rate MAY 2014 3.33% 2.37% YEAR AGO 3.56% 1.78% YEAR-OVER-YEAR CHANGE -6.5% 33.6% Top Core-Based Statistical Area WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV 90+ Day Foreclosure Delinquency Rate Rate MAY 2014 2.06% 1.30% YEAR AGO 2.89% 2.44% YEAR-OVER-YEAR CHANGE -28.6% -46.8% 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 May 2014 foreclosure rate. All fi gures are rounded to the nearest decimal. The unemployment rate refl ects preliminary May 2014 fi gures released by the Bureau of Labor Statistics. All other data courtesy of LPS Data & Analytics. West Virginia RANK: 30 90+ Day Foreclosure Unemployment Delinquency Rate Rate Rate MAY 2014 2.50% 1.07% 6.2% YEAR AGO 2.00% 1.46% 6.5% YEAR-OVER-YEAR CHANGE 24.9% -26.8% -0.3% Top County WETZEL COUNTY 90+ Day Foreclosure Delinquency Rate Rate MAY 2014 3.50% 2.96% YEAR AGO 2.26% 1.60% YEAR-OVER-YEAR CHANGE 54.8% 84.8% Top Core-Based Statistical Area HUNTINGTON-ASHLAND, WV-KY-OH 90+ Day Foreclosure Delinquency Rate Rate MAY 2014 2.50% 2.20% YEAR AGO 1.97% 1.44% YEAR-OVER-YEAR CHANGE 26.9% 52.8% 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 May 2014 foreclosure rate. All fi gures are rounded to the nearest decimal. The unemployment rate refl ects preliminary May 2014 fi gures released by the Bureau of Labor Statistics. All other data courtesy of LPS Data & Analytics. Alaska RANK: 51 90+ Day Foreclosure Unemployment Delinquency Rate Rate Rate MAY 2014 1.16% 0.46% 6.4% YEAR AGO 1.07% 0.76% 6.6% YEAR-OVER-YEAR CHANGE 8.0% -38.9% -0.2% Top County FAIRBANKS NORTH STAR BOROUGH 90+ Day Foreclosure Delinquency Rate Rate MAY 2014 2.25% 0.80% YEAR AGO 1.99% 1.35% YEAR-OVER-YEAR CHANGE 13.2% -40.6% Top Core-Based Statistical Area FAIRBANKS, AK 90+ Day Foreclosure Delinquency Rate Rate MAY 2014 2.25% 0.80% YEAR AGO 1.99% 1.35% YEAR-OVER-YEAR CHANGE 13.2% -40.6% 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 May 2014 foreclosure rate. All fi gures are rounded to the nearest decimal. The unemployment rate refl ects preliminary May 2014 fi gures released by the Bureau of Labor Statistics. All other data courtesy of LPS Data & Analytics. IN THE NEWS HUD Allocates $70M for Indian Tribes, Alaskan Native Villages e U.S. Department of Housing and Urban Development (HUD) announced it has allocated $70 million in funding for tribal communities across the nation to improve housing conditions. Simultaneously, the money is also intended to help stimu- late community development for low- and moderate-income families. e HUD money is available through the Indian Community Development Block Grant (ICDBG) Program, which is tasked with developing viable Indian and Alaska Native communities through grants for decent housing, suitable living environments, and economic opportunities. "Recipients can use the funding to sup- port rehabbing or building new housing or to buy land for housing. ey can use it toward infrastructure such as roads, water, and sewer facilities. Recipients can also spur economic development, including commercial and industrial projects," HUD said. Previously, recipients have used money to create commu- nity and health centers, energy conservation projects, or new businesses. "Housing and infrastructure needs in Indian Country are severe and widespread, and far exceed what has been provided to tribes and their designated housing entities. is funding will go directly to the Native American and Alaska Native communities that are working hard every day to improve housing for the families who need it most," said Rodger Boyd, HUD deputy assistant secretary in the Office of Native American Programs. Roughly $56 million is available for all ICDBG activities, with $10 million set aside for mold remediation and prevention. Ap- proximately $4 million is set aside to fund Imminent reat grants designed to alleviate or remove threats to health or safety that require immediate action. Privately-owned housing starts in Texas throughout June 2014. Source: Trulia STAT INSIGHT 893,000 The average sales prices in Anchorage, Alaska saw a net increase from 2006 to 2009, according to Alaska MLS. KNOW THIS

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