- Foreclosure inventory declined by 27.9 percent year-over-year in July 2015.
- Completed foreclosures declined by 24.4 percent year-over-year in July 2014.
- The number of foreclosures nationwide decreased year-over-year from 50,000 in July 2014 to 38,000 in July 2015.
- Total home equity in the US increased by almost $1 trillion to its highest level since 2007.
- Total net equity is $7.6 trillion, almost 2.5 times more than it was at the end of 2011.
- The average American homeowner with a mortgage has about $19,000 more equity in the home than a year ago.
- In July 2015, appraiser opinions of home values were 2.33 percent lower than homeowner estimates.
- This is nearly double the gap between homeowner estimates and appraiser opinions that Quicken noted in May 2015.
- National housing values dropped by 0.27 percent.
We’ll add more market news briefs throughout the day. Check back to read the latest.
Last week’s market news:
- Available homes for sale in Denver were reported at 7,587 at the end of August, a 1.6 percent increase in inventory month over month.
- 6,416 new listings came on the market in August, while 5,383 homes were placed under contract and 5,088 homes closed.
- Number of sold listings in August decreased 15 percent from July, and total sales volume dropped 15 percent from July to $1.86 billion.
- Pending sales outpaced the number of new listings added to inventory for the fifth month this year with a reported 10,603 mutually accepted transactions and 9,921 new listings.
- Total inventory dipped at the end of August with 20,749 total active listings in the MLS database, which is a slight drop from 21,069 in July and a 23.3 percent decline from a year ago.
- When considering supply, or months of inventory, August saw a slight uptick over July from 2.24 months to 2.38 months of inventory.
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