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February 2013
Summary Notes
Home price growth remained high, but continued to slow in most markets in January.
Sales decreased in most markets.
Foreclosures activity continues to decrease.
Home price growth was positive in 38 of the 42 reported counties over the last month and
quarter.
Home price growth was positive in 41 of the 42 reported counties over the last year.
Sales increased in 11 of the 42 reported counties over the last month.
Sales increased in 2 of the 42 reported counties over the last quarter.
Sales increased in 9 of the 42 reported counties over the last year.
Foreclosures decreased in 31 of the 42 reported counties over the last month, and quarter, and
year.
Housing Outlook
As we previously noted, the pace of home price growth was not sustainable, given the fairly weak
underlying economic drivers. This month, home price growth, while remaining positive, continued the
decrease that had started in previous months. Even with this slowing pace, home prices growth remains
above the rate that can be sustained by the currently-weak economic drivers as average annualized
home price growth across all 42 reported markets was 8.9%.
Factor
Comment
Current Situation
Supply of Housing
Uncertainty
County
MARICOPA
PIMA
ALAMEDA
CONTRA COSTA
LOS ANGELES
ORANGE
RIVERSIDE
SACRAMENTO
SAN BERNARDINO
SAN DIEGO
SANTA CLARA
DENVER
FAIRFIELD
BROWARD
DUVAL
HILLSBOROUGH
LEE
MIAMI-DADE
ORANGE
PALM BEACH
PINELLAS
FULTON
COOK
DUPAGE
MIDDLESEX
MONTGOMERY
OAKLAND
JACKSON
ST. LOUIS
MECKLENBURG
CLARK
QUEENS
SUFFOLK
CUYAHOGA
FRANKLIN
MULTNOMAH
SHELBY
DALLAS
HARRIS
SALT LAKE
FAIRFAX
KING
Metro
Phoenix
Tuscon
Oakland
Richmond
Los Angeles
Orange
Riverside
Sacramento
San Bernardino
San Diego
San Jose
Denver
New York
Ft. Lauderdale
Jacksonville
Tampa
Ft. Myers
Miami
Orlando
Palm Beach
Clearwater
Atlanta
Chicago
Chicago
Boston
Washington, DC
Detroit
Kansas City
St. Louis
Charlotte
Las Vegas
New York
Long Island
Cleveland
Columbus
Portland
Memphis
Dallas
Houston
Salt Lake
Washington, DC
Seattle
Notes:
1. Source: DataQuick
2. Reported sales data do not include new construction.
Current Month
142.0
122.0
141.4
143.2
182.2
172.5
149.2
130.4
169.1
150.5
157.6
135.4
119.0
145.8
118.5
132.7
123.9
154.3
132.0
139.2
135.3
129.2
108.8
119.9
131.8
153.6
97.7
101.3
101.3
115.3
115.5
135.1
136.4
89.0
98.6
153.7
97.6
126.9
126.9
120.5
168.0
161.7
Prior Year
122.4
112.5
120.8
120.4
156.0
149.0
120.8
104.9
134.3
130.0
141.4
127.1
117.9
125.0
113.2
117.2
112.2
134.1
113.1
120.7
119.2
127.8
98.5
112.7
122.3
148.8
83.1
96.1
96.1
113.0
92.7
133.7
133.9
91.0
95.0
146.2
92.8
122.6
122.6
112.5
157.4
139.0
Current Month
628
175
57
95
390
92
290
195
298
131
36
66
59
540
748
478
212
448
290
384
356
184
465
119
24
24
180
181
247
262
455
21
102
341
261
55
258
330
481
109
20
170
Foreclosures
Previous Month
778
195
66
76
441
106
297
186
289
153
31
86
52
434
958
511
382
611
361
521
416
299
899
127
37
35
190
225
370
238
452
16
139
308
377
38
305
365
598
126
22
175
Prior Quarter
819
214
60
83
415
100
315
200
317
127
39
83
36
444
692
462
297
600
441
561
432
276
846
162
23
18
210
232
252
311
680
11
63
363
322
34
317
491
779
121
21
212
Prior Year
1613
354
113
198
967
227
634
455
606
301
78
161
45
446
639
256
330
507
426
312
267
335
797
149
35
26
323
284
338
237
635
15
50
342
314
28
275
543
942
101
46
273
Current Month
4674
831
904
823
4159
1713
2303
1503
1903
1900
818
711
492
2228
1084
1215
1025
1323
1089
1413
1011
858
2462
778
752
415
1212
417
1101
1265
2691
408
1330
1156
998
650
856
1442
2732
558
559
1715
Sales
Previous Month
5966
1009
1077
891
5103
1855
2178
1379
1817
1911
847
754
607
1732
1345
1550
1225
1825
1341
1764
1272
1057
3977
751
682
669
1505
557
1499
1195
2554
469
1334
1105
1253
723
1054
1782
3179
760
486
1687
Prior Quarter
6720
1154
1210
1031
5549
2216
2510
1737
2154
2094
1002
794
917
2129
1351
1712
1305
1850
1628
1760
1393
1270
3654
1061
1425
771
1918
615
1524
1303
3139
434
1033
1289
1495
837
1339
2072
4032
832
610
2237
Prior Year
6467
892
1174
1207
5126
2029
3144
2067
2183
2565
1098
807
519
2300
1297
1250
1198
1496
1300
1230
1133
988
2340
721
972
545
901
488
1135
1186
3295
311
693
977
1138
758
827
1623
2766
711
586
1818
County
MARICOPA
PIMA
ALAMEDA
CONTRA COSTA
LOS ANGELES
ORANGE
RIVERSIDE
SACRAMENTO
SAN BERNARDINO
SAN DIEGO
SANTA CLARA
DENVER
FAIRFIELD
BROWARD
DUVAL
HILLSBOROUGH
LEE
MIAMI-DADE
ORANGE
PALM BEACH
PINELLAS
FULTON
COOK
DUPAGE
MIDDLESEX
MONTGOMERY
OAKLAND
JACKSON
ST. LOUIS
MECKLENBURG
CLARK
QUEENS
SUFFOLK
CUYAHOGA
FRANKLIN
MULTNOMAH
SHELBY
DALLAS
HARRIS
SALT LAKE
FAIRFAX
KING
Metro
Phoenix
Tuscon
Oakland
Richmond
Los Angeles
Orange
Riverside
Sacramento
San Bernardino
San Diego
San Jose
Denver
New York
Ft. Lauderdale
Jacksonville
Tampa
Ft. Myers
Miami
Orlando
Palm Beach
Clearwater
Atlanta
Chicago
Chicago
Boston
Washington, DC
Detroit
Kansas City
St. Louis
Charlotte
Las Vegas
New York
Long Island
Cleveland
Columbus
Portland
Memphis
Dallas
Houston
Salt Lake
Washington, DC
Seattle
Notes:
1. Source: DataQuick
2. Reported sales data do not include new construction.
Latest Month
1.00%
0.70%
0.66%
1.24%
1.13%
0.99%
1.46%
1.55%
1.83%
1.07%
0.51%
0.27%
-0.03%
1.24%
0.56%
0.91%
0.74%
1.01%
1.34%
0.94%
1.16%
0.26%
0.93%
0.49%
0.14%
0.09%
1.03%
0.41%
0.41%
0.04%
1.68%
-0.01%
-0.15%
-0.56%
0.37%
0.86%
0.59%
0.17%
0.17%
0.50%
0.90%
1.27%
Latest Year
15.96%
8.51%
17.03%
18.92%
16.75%
15.80%
23.50%
24.36%
25.90%
15.75%
11.44%
6.50%
0.89%
16.64%
4.72%
13.21%
10.44%
15.09%
16.66%
15.28%
13.56%
1.07%
10.43%
6.39%
7.82%
3.17%
17.57%
5.42%
5.42%
2.05%
24.56%
1.04%
1.89%
-2.17%
3.70%
5.15%
5.11%
3.52%
3.52%
7.05%
6.72%
16.36%
Latest Month
-19.28%
-10.26%
-13.64%
25.00%
-11.56%
-13.21%
-2.36%
4.84%
3.11%
-14.38%
16.13%
-23.26%
13.46%
24.42%
-21.92%
-6.46%
-44.50%
-26.68%
-19.67%
-26.30%
-14.42%
-38.46%
-48.28%
-6.30%
-35.14%
-31.43%
-5.26%
-19.56%
-33.24%
10.08%
0.66%
31.25%
-26.62%
10.71%
-30.77%
44.74%
-15.41%
-9.59%
-19.57%
-13.49%
-9.09%
-2.86%
Latest Year
-61.07%
-50.56%
-49.56%
-52.02%
-59.67%
-59.47%
-54.26%
-57.14%
-50.83%
-56.48%
-53.85%
-59.01%
31.11%
21.08%
17.06%
86.72%
-35.76%
-11.64%
-31.92%
23.08%
33.33%
-45.07%
-41.66%
-20.13%
-31.43%
-7.69%
-44.27%
-36.27%
-26.92%
10.55%
-28.35%
40.00%
104.00%
-0.29%
-16.88%
96.43%
-6.18%
-39.23%
-48.94%
7.92%
-56.52%
-37.73%
Latest Month
-21.66%
-17.64%
-16.06%
-7.63%
-18.50%
-7.65%
5.74%
8.99%
4.73%
-0.58%
-3.42%
-5.70%
-18.95%
28.64%
-19.41%
-21.61%
-16.33%
-27.51%
-18.79%
-19.90%
-20.52%
-18.83%
-38.09%
3.60%
10.26%
-37.97%
-19.47%
-25.13%
-26.55%
5.86%
5.36%
-13.01%
-0.30%
4.62%
-20.35%
-10.10%
-18.79%
-19.08%
-14.06%
-26.58%
15.02%
1.66%
Latest Year
-27.73%
-6.84%
-23.00%
-31.81%
-18.86%
-15.57%
-26.75%
-27.29%
-12.83%
-25.93%
-25.50%
-11.90%
-5.20%
-3.13%
-16.42%
-2.80%
-14.44%
-11.56%
-16.23%
14.88%
-10.77%
-13.16%
5.21%
7.91%
-22.63%
-23.85%
34.52%
-14.55%
-3.00%
6.66%
-18.33%
31.19%
91.92%
18.32%
-12.30%
-14.25%
3.51%
-11.15%
-1.23%
-21.52%
-4.61%
-5.67%