The Real-Estate Blog Of Mary Murray
According to Lender Processing Service’s First Look mortgage report, which covers approximately 70% of the Unites States mortgage market, foreclosures and mortgage delinquencies have dropped considerably across the U.S. The loan delinquency rate averaged 6.20% last month, down 3.31% from July, and down 10% from August 2012. Foreclosure rates have also dropped 34% year-over year, dropping to the lowest point seen in 4 ½ years, averaging 2.66%. More here
According to Lender Processing Services, the foreclosure pre-sale inventory rate averaged 3.05% in May 2013, decreasing 26.98% from May 2012. The United States delinquency rate has also fallen to the lowest rate seen in five years averaging 6.05%. Additionally, the number of U.S. homes, not in foreclosure, but 30 or more days late hovered around 3.043 million. Foreclosures 90 or more days late hit 1.335 million. The average number of properties listed as in-foreclosure or delinquent is 4.569 million and is expected to continue to fall. More here
The Standard & Poor’s Case-Shiller 20-city index showed the largest price gain in approximately seven years increasing by 9.3% from this time last year. The report states that home prices are expected to continue to increase due to lower foreclosure rates, higher rent prices, affordability, and rising household formation. According to the report, price gain is subjective to certain locations depending on job growth in the area and elevated foreclosure rates. Zillow’s home-value index, which does not include foreclosures, showed home prices had jumped 5.1% from March 2012. More here
