Home Price Conditions
as of August 2012
One vital sign of housing market conditions is the change in home prices. The Federal Reserve Bank of New York currently releases a set of interactive maps and charts each month to provide a look at current conditions. Based on data from CoreLogic, the maps show the percent change in price from a year earlier for nearly 1,200 counties, and includes a video sequence of these changes since 2003.
An Assessment of the Distressed Residential Real Estate Situation
While many factors influence the inventory of residential properties owned by lenders—referred to as real estate owned, or REO—the time it takes to complete the foreclosure process is critical. Indeed, in one of three scenarios examined, REO inventory could rise rapidly in many states by the end of 2013 if this time shortens.
