Daily market update: Sept. 8, 2015

CoreLogic’s July 2015 National Foreclosure Report:

• 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.

Black Knight Financial’s July 2015 Mortgage Monitor Report:

• 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.

Quicken’s national July Home Price Perception Index:

• 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:

September Denver Metro Real Estate Market Trends Report:

• 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.

Northwest Multiple Listing Service housing activity in August:

• 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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