Tuesday, March 15, 2011

Housing Indicator - 2x4 Report

The Minnesota Housing Partnership has recently released its updated report (known as the "2 x 4 Report") that studies two indicators for each of four key housing areas:

  • the home ownership market,
  • the rental market,
  • homelessness, and
  • the housing industry.

The report is a great resource for housing information, and is designed to provide a concise, easy-to-digest, graphic overview of the state of housing in the state of Minnesota.

The complete report is available here.

Focusing on the "Owners' Market" segment of their report, it's interesting to see that delinquencies fell slightly to 6.5% in the fourth quarter of 2010, continuing the downward trend that we've seen throughout the year.

Somehow... there is a disconnect happening that isn't easily explained:

In both 2008 and 2010 delinquencies were LOWER than 2009, but actual foreclosures (Sheriff's Sales) were higher in both 2008 and 2010.  In reality, the delinquency rate maxed out at just over 8% in Q4 2009, but the highest quarters for sheriff's sales have been Q2-2008 and Q3-2010.

View the report... and add your 2-Cents in the comments. 

1 comment:

  1. The reason delinquencies can be lower and foreclosures higher from what I see and hear is because banks are taking so blasted long to foreclose - reports from LPS consistently show a large number of loans 12+ monthly delinquent and still not foreclosed on.

    My bet is that the delinquency decline is a 12 month or bigger leading indicator for foreclosure declines.

    ReplyDelete

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