December Housing Continues on Positive Course, Yet Foreclosure Performance Worsens

SAN DIEGO--(BUSINESS WIRE)--A continuing national housing recovery has seen various housing markets strengthen throughout December, according to a monthly Property Intelligence Report (PIR) from DataQuick^®, a provider of advanced real estate information solutions powered by data, analytics and decisioning.

“Decreases in employment and migration from the combined 2.4 million residents living in Cleveland and Columbus, Ohio were main contributors to the home price decreases experienced in these areas”

“Our report concludes improvements among home price growth and sales performance, but also sees foreclosures worsening compared to November,” said Gordon Crawford, Ph.D., vice president of Analytics for DataQuick. “Several fiscal uncertainty factors including debt limits, proposed tax increases and spending cuts may lead to further weakening the housing market.”

DataQuick’s PIR leverages its national property database and analytics expertise to assess 42 of the largest counties in the United States using valuation trends, REO inventory trends and sales trends metrics. Key findings for December include:

Home price growth was positive in all 42 reported counties over the last month, quarter and year
Sales increased in 32 of the 42 reported counties over the last month
Sales increased in 12 of the 42 reported counties over the last quarter
Sales increased in 38 of the 42 reported counties over the last year
Foreclosures increased in 26 of the 42 reported counties over the last month
Foreclosures increased in 27 of the 42 reported counties over the last quarter
Foreclosures increased in 21 of the 42 reported counties over the last year

Crawford mentions that housing investors still face an array of uncertainty about the market from fiscal issues and international events directly linked to the housing market. He also notes that in the presence of uncertainty, individuals have a formidable time valuing real estate.

“Decreases in employment and migration from the combined 2.4 million residents living in Cleveland and Columbus, Ohio were main contributors to the home price decreases experienced in these areas,” said Crawford. “Although foreclosures continue to affect the market, a stabilizing labor market situation has contributed to strong home prices and sales growth over the last year.”

About DataQuick

San Diego-based DataQuick, a Decision Insight Information Group Company, delivers advanced information solutions powered by higher quality data, innovative analytics and automated decisioning across a national footprint. The company drives better decision making and improved profitability for the real estate, mortgage lending and secondary investor markets. DataQuick’s integrated solutions include property data and analytics, appraisals and non-appraisal evaluations, flood determinations, mortgage credit reports, automated valuation models, automated decisioning software, Title insurance and property information, property research portals and marketing tools. For more information, visit the company’s website at www.dataquick.com, on LinkedIn or on Twitter at @DataQuick.

About Decision Insight Information Group

Decision Insight Information Group, located in the U.S., Canada and Europe, delivers a comprehensive range of information, infrastructure and decision support products and services for financial and legal professionals. Operating at the heart of the property industry, Decision Insight Information Group manages complex information solutions and provides clarity on decision making for buying, selling, conveyancing, financing and insurance. Decision Insight Information Group companies include MSB and DataQuick in the U.S., Access Point Information Canada, SearchFlow, xit2 and Decision Insight Hub in the UK, Millar & Bryce in Scotland, Rochford Brady Group in the Republic of Ireland, Wertweiser, a joint venture with HVB Bank, in Germany, and Decision First, a joint venture with First Title, in the UK. Decision Insight Information Group has 1,100 employees in 16 offices. For more information, visit www.decisioninsightgroup.com. Decision Insight Information Group is a TPG Capital portfolio company.