New index rates housing markets according to property salability

Mortgage

ATTOM Data Solutions, curator of a multi-sourced property database, released its first Pre-Mover Housing Index, which shows markets where homes are more likely to sell and buyers will soon be looking for a new home.

Using data collected from purchase loan applications on residential real estate transactions, the ATTOM Data Solutions Pre-Mover Housing Index, a score above 100 indicates an above-average ratio of homes that will likely be sold in the next 30 days in a market.

The city with the highest pre-mover indices for 2017 was Colorado Springs, Colorado with an index of 251, followed by Charleston, South Carolina with 225, Raleigh, North Carolina with 225, Tampa-St. Petersburg, Florida with 209 and the District of Columbia with 209.

On the opposite end of the spectrum, the city with the lowest pre-mover index came in as San Francisco, California with 22, followed by Providence, Rhode Island with 38, Harford, Connecticut with 42, Boston, Massachusetts with 43 and Rochester, New York with 45.

Historical pre-mover data going back to the first quarter of 2014 shows that 62.2% of homes with a pre-mover flag sell within 30 days of the estimated loan settlement date that is provided in the pre-mover data.

“The first quarter pre-mover data reinforces that home buyers in 2017 are more likely to be moving to markets — or moving up within markets — that still have relatively affordable housing inventory along with access to jobs,” ATTOM Senior Vice President Daren Blomquist said.

“The pre-mover data also shows a similar migration toward affordability at the county level within some higher-priced markets such as New York, Seattle and Southern California, where the highest pre-mover indices show up in counties that tended to be lower priced but further out from urban centers,” Blomquist said. “One exception to that pattern was Washington, D.C., where the highest pre-mover indices for the first quarter tended to be in higher-priced counties.”

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