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“When I look at our metrics for
overvalued [housing] markets,
to me, it is a warning sign. Maybe
it is a flashing amber light that
says ‘watch out.’”
Bob Davis
Executive vice president, American Bankers Association
Victor Whitman is chief reporter at Scotsman Guide Media.
Reach him at (425) 984-6017 or victorw@scotsmanguide.com.
News Roundup
Mortgage delinquencies and foreclosures continued to
trend downward through this past July, CoreLogic said.
As of that point in the year, the serious delinquency
rate, or share of mortgages 90 days past due, was at
1.9 percent, near a 10-year low. Alaska was the only
state to record a year-over-year increase in serious
delinquencies as of this past July, the company said.
<< Continued
In Words
Frank Nothaft
Chief economist, CoreLogic
“The Dodd-Frank rules were years in
the making. The unwinding of some
of this, and the peeling back of some
of the layers of the onion, are going
to be years in process as well.”
Existing-home sales
remain solid in 2017
Annualized sales of existing homes were
trending slightly lower through August 2017,
compared to 2016 figures, but sales were still
running near a 10-year high, data from the
National Association of Realtors (NAR) show.
NAR is forecasting that the annual tally of
existing-home sales for 2017 will be in the
range of 5. 3 million units.
Source: CoreLogic
Source: National Association of Realtors
Distressed-Property Indicators
as of July 2017*
U.S. Existing-Home Sales
*Annualized pace based on home sales through August
(M
i
l
l
i
o
n
s)
*For single-family homes in the U.S.
1
3
6
0
4
2
5
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017*
