March Defaults and Foreclosure Sales

Submitted by Rich Toscano on April 12, 2007 - 10:20am

Here's a quick graph of March NODs and NOTs. I won't be able to put this into proper historical context until I get March labor force info and DataQuick sales volume. However, I wanted to put up a graph of the past year's data to demonstrate the shocking conclusion that foreclosures are still on the rise.

(category: )

Submitted by Ash Housewares on April 12, 2007 - 12:10pm.

Shocking indeed.

Submitted by masayako on April 12, 2007 - 8:58pm.

Thanks Rich. Lovely data for the current renters. Keep it coming and falling.

Submitted by sdrebear on April 13, 2007 - 8:48am.

It's interesting to see how the two lines are becoming more in sync with each other now that many of the "bail out" methods of years past are no longer a viable option for many (ie. refi's, selling, etc.)

Submitted by no_such_reality on April 13, 2007 - 9:36am.

From before... But how many motivated sellers is "too many?"

Apparently motivated sellers are meaningless. You see, due to the hot market in 2003-2004, future demand was "pre-met" that's why the slow sales volume isn't pushing prices down. I don't know what kind of babble-logic saying future buyers bought two years ago that's why the lack of buyers isn't creating downward pressure is, but I'm sure there's plenty of people gladly nodding their heads.

"Slow sales usually create downward pricing pressure. One reason they haven't, DataQuick President Marshall Prentice speculated, is because the 2003-to-2004 boom essentially "borrowed" from future purchases as people stampeded into the market. Current demand, in other words, was "pre-met."
DQ Babble

Submitted by tat on June 17, 2007 - 1:38pm.

it is shoking

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.