report on nevada s housing market · an increase in median household income. 59 percent of homes in...
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ReportonNevada’sHousingMarket
March2016
ThisseriesofreportsonNevada’sHousingMarketispresentedbytheLiedInstituteforRealEstateStudiesattheUniversityofNevada,LasVegas.ThesereportsprovidemonthlyupdatesonhousingmarkettrendsforstakeholdersthroughoutNevada.
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Nevada’sHousingMarket |March2016
TableofContents
NevadaStatewideTrends…….................................... 2
NorthernTrends………………………………………….. 10
SouthernTrends………………………………………….. 14
RuralTrends…………………………………………........... 18
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Nevada’sHousingMarket | March2016
NevadaStatewideTrends
Population:2,890,845 in2015 HousingUnits:1,198,907 in2014
Source:U.S.CensusBureau:StateandCountyQuickFacts
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NevadaStatewideTrends
Nevada’sHousingMarket |March2016
Nye
Elko
Clark
Lincoln
Humboldt
Washoe
WhitePine
Lander
Pershing
Eureka
Churchill
Mineral
Lyon
Esmeralda
Douglas
Storey
CarsonCity
Single‐FamilyHomeSales* March2016 M2MChange Y2YChangeNew 528 ‐0.3% ‐3.3%Existing 3,817 +2.5% ‐0.9%DistressShare 11.3% ‐18.1% ‐16.5%
ResidentialConstructionTotalStarts 1,310 ‐788 +80Single‐Family 1,027 +126 ‐48Multifamily 283 ‐914 +128
AverageSingle‐FamilySalesPrice*New $354,491 +0.6% +5.2%Existing $229,374 ‐0.2% +5.4%Distress $181,511 ‐1.0% +12.0%
Source:LiedInstitutecalculationsusingCoreLogic DataandtheStateoftheCitiesDataSystems byU.S.DepartmentofHousingandUrbanDevelopment.*FiguresportrayThree‐MonthMovingWeightedAverages
Allthreeregionssawsignificantdecreasesintheshareofhomessoldunderdistress.11.3percentofallhomessoldinNevadaweresoldunderdistress– thelowestsharesince2007.Thisdecreasewasdrivenbyalargedecreaseinthenumberofshortsales.
HousingAffordabilityincreasedinbothRenoandLasVegasaccordingtotheNationalAssociationofHomeBuilders.Thisincreasewasaresultofanincreaseinmedianhouseholdincome.59percentofhomesinRenoand68.1percentofhomesinLasVegasareconsideredaffordabletohouseholdsthatearnthemedianincome.
Allthreeregionssawadecreaseintheshareofmortgageswithnegativeequity.17.5percentofmortgagesinNevadawereunderwaterinMarch2016– 5.6percentagepointslowerthantheMarch2015share.
NevadaStatewideTrends
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The Single‐Family Home Prices figure above shows the three‐month moving average price of existing homes and new homes.Existing homes are single family homes that were exchanged from one private owner to another. This includes homes sold byreal estate agents, owners, and lenders. New homes are single family homes that were exchanged from a builder to a privateowner. The other figure, Single‐Family Homes Sales, illustrates the number of those transactions for both existing and newhomes. A seasonal pattern is obvious in the Single‐Family Home Sales graph, with more home sales during the summer thanduring the winter.
Nevada’sHousingMarket |March201610
020
030
040
0A
vera
ge P
rice
in T
hous
ands
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
Date (January 2000 - March 2016)
Existing New
Source: CoreLogicNote: Series are 3-month weighted moving averages.
Single-Family Home Prices
020
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0060
0080
0010
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Mon
thly
Num
ber o
f Sal
es
2000
2001
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2003
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2011
2012
2013
2014
2015
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Date (January 2000 - March 2016)
Existing New
Source: CoreLogicNote: Series are 3-month weighted moving averages.
Single-Family Home Sales
2040
6080
100
Pro
porti
on o
f Affo
rdab
le H
ome
Sal
es
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
Date (1 Quarter 2000 - 1 Quarter 2016)
Las Vegas Reno Nation
Source: National Association of Home BuildersNote: Series denote the proportion of home sales affordable at median income.
Housing Affordability
NevadaStatewideTrends
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The Housing Affordability figure shows the proportion of home sales that could have been bought by borrowers earning atleast the local median income, with a conventional loan. This index was developed by the National Association of HomeBuilders (NAHB), to provide a benchmark of affordability. The other figure, Nevada Single‐Family Homes for Sale, shows thenumber of homes available for sale at the end of the month. These numbers include new listings that are awaiting a purchasingcontract, as well as homes that are under contract and about to sell.
Nevada’sHousingMarket |March2016
Equilibrium
1020
3040
50W
asho
e Li
stin
gs in
Hun
dred
s
250
220
190
160
130
100
Cla
rk L
istin
gs in
Hun
dred
s
2006 2008 2010 2012 2014 2016Date (January 2007 - March 2016)
Clark Washoe
Source: Greater Las Vegas Association of Realtors and UNR's Center for Regional Studies
Nevada Single-Family Homes for Sale
NevadaStatewideTrends
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Single‐Family Distress Sales is a figure that displays the monthly number of Real Estate Owned (REO) sales and short sales.REO sales are homes that have been repossessed by lenders through foreclosure and then sold in the market. Short sales, onthe other hand, are homes that were sold for an amount below the owner’s outstanding mortgage balance. Both numbers arethree‐month weighted moving averages. The other figure, Share of Distress Single‐Family Home Sales, tracks the proportion ofhome sales (including new home sales) that were REO sales or short sales. The long term decline in that share continues, evenas the number of such sales remains roughly level, indicating an increasing number of “normal” sales.
Nevada’sHousingMarket |March2016
020
4060
80S
hare
of D
istre
ss S
ales
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
Date (January 2000 - March 2016)Source: CoreLogic
Share of Distress Single-Family Home Sales
010
0020
0030
0040
00M
onth
ly N
umbe
r of S
ales
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
Date (January 2000 - March 2016)
REO Sales Short Sales
Source: CoreLogicNote: Series are 3-month weighted moving averages.
Single-Family Distress Sales
NevadaStatewideTrends
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The Foreclosure Trends figure includes two series: the 90+ Days Delinquent series and the Foreclosure Inventory series. The90+ Days Delinquent series consists of the number of homes that are secured by a loan in default for 90 days or more. Thisincludes homes that are in the process of being foreclosed. The Foreclosure Inventory series consists of homes that have begunthe foreclosure process or are in some stage of foreclosure. The other figure depicts what proportion of homes secured by amortgage have positive equity or negative equity. When a home has a market value at or above its outstanding mortgagebalance, it is consider to have positive equity. Otherwise, the house has negative equity.
Nevada’sHousingMarket |March20160
2040
6080
100
Cou
nt in
Tho
usan
ds
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
Date (January 2000 - March 2016)
90+ Days Delinquent Foreclosure Inventory
Source: CoreLogic
Foreclosure Trends
17.4823.0529.39
44.02
65.66
61.21
100
9080
7060
5040
3020
100
Per
cent
2011 2012 2013 2014 2015 2016
Source: CoreLogic
(Home Value - Mortgage Balance)Equity Measures as of Quarter 1, 2016
Positive Equity Negative Equity
NevadaStatewideTrends
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These two figures are based on numbers gathered from County records by RealtyTrac. The first figure shows the monthlynumber of Notices of Default and Repossessions. The Notice of Default (NOD) is the initial stage of foreclosure that starts atleast 90 days after the homeowner’s mortgage default date. Not all homes that receive a NOD will necessarily be foreclosed.There exist other alternatives homeowners can invoke such as a loan modification, deed‐in‐lieu of foreclosure, and short sale.The other figure, Residential Home Auctions, shows the monthly number of homes that received a Notice of Trustee Sale andunderwent a public auction. It includes both the successful and unsuccessful auctions. Those that were unsuccessful revertback to the lender.
Nevada’sHousingMarket |March20160
2000
4000
6000
8000
1000
0M
onth
ly F
requ
ency
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
Date (April 2005 - March 2016)REO 3-Month Moving Average Actual REONOD 3-Month Moving Average Actual NOD
Source: RealtyTrac
Notices of Default and Repossessions
020
0040
0060
0080
00M
onth
ly F
requ
ency
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016Date (April 2005 - March 2016)
Notice of Trustee Sales 3-Month Moving Average
Source: RealtyTrac
Residential Home Auctions
1.251.75.5.250Mortgage Foreclosure Starts as Percent of Stock
WisconsinKansas
23. NevadaNorth Carolina
TennesseeFlorida
ArkansasDelaware
GeorgiaIllinois
KentuckyPennsylvaniaWest Virginia
LouisianaAlabamaMaryland
South CarolinaNew York
IndianaOhio
Rhode IslandConnecticut
MaineMississippi
New Jersey
Source: Mortgage Bankers Association's National Delinquency Survey
1st Quarter 2016Top 25 States in Foreclosure Starts
121086420Percent of Loans in the Foreclosure Inventory
South CarolinaKentucky
IndianaMassachusetts
OklahomaOhio
IllinoisPennsylvania
MarylandVermont
10. NevadaRhode Island
DelawareConnecticutNew Mexico
FloridaMaine
HawaiiNew York
New Jersey
Source: Mortgage Bankers Association's National Delinquency Survey
1st Quarter 2016Top 20 States in Foreclosure Inventory
NevadaStatewideTrends
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These figures rank Nevada nationally on the basis of data provided by The Mortgage Bankers Association’s NationalDelinquency Survey. The Top 20 States in Foreclosure Inventory uses the proportion of outstanding loans that are in theforeclosure inventory ‐ that is, the number of home loans reported to be in some stage of foreclosure divided by the totalnumber of home loans serviced. The Top 25 States in Foreclosure Starts is a ranking that uses mortgage foreclosure starts as apercent of stock. In other words, this is the number of initiated foreclosures divided by the total number of home loansserviced.
Nevada’sHousingMarket |March2016
Ranked8in2015Q4
Ranked21in2015Q4
2.26
0.36
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Nevada’sHousingMarket |March2016
NorthernTrends
Population:629,906in2015 HousingUnits:269,452in2014
Source:U.S.CensusBureau:StateandCountyQuickFacts (CarsonCity,Churchill,Douglas,Lyon,Storey,andWashoeCounty)
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NorthernTrends Shortsalesdecreasedfortheninthconsecutivemonth.Therewere
36shortsalesinMarch2016– thelowestmonthlytotalsince2008.REOsalesincreasedslightlyinMarch2016.
10.4percentofallmortgageswereunderwaterattheendof2016Q1.Thiswasa0.2percentagepointdecreasesince2015Q4anda5.3percentagepointdecreasesince2015Q1.
March2016wasthethirdconsecutivemonthwithyearoveryeargrowthintotalresidentialconstructionstarts.
NorthernNevadawastheonlyregioninNevadawhereaveragenewhomepricesincreased.Averagenewhomepriceswereup$28,000onayearoveryearbasis.
Nye
Elko
Clark
Lincoln
Humboldt
Washoe
WhitePine
Lander
Pershing
Eureka
Churchill
Mineral
Lyon
Esmeralda
Douglas
Storey
CarsonCity
Nevada’sHousingMarket |March2016
Single‐FamilyHomeSales* March2016 M2MChange Y2YChangeNew 94 +2.2% +2.5%Existing 788 +1.4% ‐5.6%DistressShare 8.2% ‐23.8% ‐31.8%
ResidentialConstructionTotalStarts 309 +143 +24Single‐Family 201 +35 ‐44Multifamily 108 +108 +68
AverageSingle‐FamilySalesPrice*New $382,978 +2.5% +8.0%Existing $267.783 ‐3.3% +6.0%Distress $189.046 ‐4.7% +8.1%
Source:LiedInstitutecalculationsusingCoreLogic DataandtheStateoftheCitiesDataSystems byU.S.DepartmentofHousingandUrbanDevelopment.*FiguresportrayThree‐MonthMovingWeightedAverages
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NorthernTrends
Nevada’sHousingMarket |March2016
150
200
250
300
350
400
Ave
rage
Pric
e in
Tho
usan
ds
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
Date (January 2000 - March 2016)
Existing New
Source: CoreLogicNote: Series are 3-month weighted moving averages.
Single-Family Home Prices
050
010
0015
0020
00M
onth
ly N
umbe
r of S
ales
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
Date (January 2000 - March 2016)
Existing New
Source: CoreLogicNote: Series are 3-month weighted moving averages.
Single-Family Home Sales
020
4060
Sha
re o
f Dis
tress
Sal
es
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
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2012
2013
2014
2015
2016
Date (January 2000 - March 2016)Source: CoreLogic
Share of Distress Single-Family Home Sales
010
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0M
onth
ly N
umbe
r of S
ales
2000
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2012
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2014
2015
2016
Date (January 2000 - March 2016)
REO Sales Short Sales
Source: CoreLogicNote: Series are 3-month weighted moving averages.
Single-Family Distress Sales
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NorthernTrends
Nevada’sHousingMarket |March2016
05
1015
Cou
nt in
Tho
usan
ds
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
Date (January 2000 - March 2016)
90+ Days Delinquent Foreclosure Inventory
Source: CoreLogic
Foreclosure Trends
10.3915.6722.80
36.9352.19
55.07
100
9080
7060
5040
3020
100
Per
cent
2011 2012 2013 2014 2015 2016
Source: CoreLogic
(Home Value - Mortgage Balance)Equity Measures as of Quarter 1, 2016
Positive Equity Negative Equity
050
010
0015
00
Mon
thly
Fre
quen
cy
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016Date (April 2005 - March 2016)
REO 3-Month Moving Average Actual REONOD 3-Month Moving Average Actual NOD
Source: RealtyTrac
Notices of Default and Repossessions
020
040
060
080
010
00M
onth
ly F
requ
ency
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016Date (April 2005 - March 2016)
Notice of Trustee Sales 3-Month Moving Average
Source: RealtyTrac
Residential Home Auctions
Page| 14
Nevada’sHousingMarket |March2016
SouthernTrends
Population:2,114,801 in2015 HousingUnits:863,010 in2014
Source:U.S.CensusBureau:StateandCountyQuickFacts (ClarkCounty)
Nye
Elko
Clark
Lincoln
Humboldt
Washoe
WhitePine
Lander
Pershing
Eureka
Churchill
Mineral
Lyon
Esmeralda
Douglas
Storey
CarsonCity
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SouthernTrends
Nevada’sHousingMarket |March2016
Single‐FamilyHomeSales* March2016 M2MChange Y2YChangeNew 423 +0.0% ‐5.6%Existing 2,898 +3.1% +0.3%DistressShare 12.2% ‐16.0% ‐12.4%
ResidentialConstructionTotalStarts 985 ‐940 +98Single‐Family 810 +82 +2Multifamily 175 ‐1,022 +96
AverageSingle‐FamilySalesPrice*New $350,882 ‐0.1% +5.0%Existing $223,667 +0.9% +5.8%Distress $183,473 ‐0.2% +13.8%
Source:LiedInstitutecalculationsusingCoreLogic DataandtheStateoftheCitiesDataSystems byU.S.DepartmentofHousingandUrbanDevelopment.*FiguresportrayThree‐MonthMovingWeightedAverages
March2016wasthefirsttimesinceSeptember2015wherenewhomesalesdidnotdecreaseonamonthtomonthbasisinSouthernNevada.
SouthernNevadahadthelargestshareofmortgageswithnegativeequityofanyregioninNevada.19.9percentofallmortgageswereunderwaterattheendof2016Q1.Thiswasdown1.4percentagepointssince2015Q4and5.7percentagepointssince2015Q1.
SouthernNevadawastheonlyregioninNevadawhereexistinghomepricesincreasedonamonthtomonthbasis.However,NorthernNevadasawmorerobustgrowthinexistinghomepricesonayearoveryearbasis.
March2016wasthethirdconsecutivemonthwheresingle‐familystartsincreasedonamonthtomonthbasisandthesixthconsecutivemonthwheresingle‐familystartsincreasedonayearoveryearbasis.
SouthernTrends
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Nevada’sHousingMarket |March2016
100
200
300
400
Ave
rage
Pric
e in
Tho
usan
ds
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
Date (January 2000 - March 2016)
Existing New
Source: CoreLogicNote: Series are 3-month weighted moving averages.
Single-Family Home Prices
020
0040
0060
0080
00M
onth
ly N
umbe
r of S
ales
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
Date (January 2000 - March 2016)
Existing New
Source: CoreLogicNote: Series are 3-month weighted moving averages.
Single-Family Home Sales
020
4060
80S
hare
of D
istre
ss S
ales
2000
2001
2002
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2004
2005
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2010
2011
2012
2013
2014
2015
2016
Date (January 2000 - March 2016)Source: CoreLogic
Share of Distress Single-Family Home Sales
010
0020
0030
0040
00M
onth
ly N
umbe
r of S
ales
2000
2001
2002
2003
2004
2005
2006
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2008
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2010
2011
2012
2013
2014
2015
2016
Date (January 2000 - March 2016)
REO Sales Short Sales
Source: CoreLogicNote: Series are 3-month weighted moving averages.
Single-Family Distress Sales
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SouthernTrends
Nevada’sHousingMarket |March2016
020
4060
80C
ount
in T
hous
ands
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
Date (January 2000 - March 2016)
90+ Days Delinquent Foreclosure Inventory
Source: CoreLogic
Foreclosure Trends
19.8725.6
31.75
46.73
64.67
69.31
100
9080
7060
5040
3020
100
Per
cent
2011 2012 2013 2014 2015 2016
Source: CoreLogic
(Home Value - Mortgage Balance)Equity Measures as of Quarter 1, 2016
Positive Equity Negative Equity
020
0040
0060
0080
00M
onth
ly F
requ
ency
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016Date (April 2005 - March 2016)
Notice of Trustee Sales 3-Month Moving Average
Source: RealtyTrac
Residential Home Auctions
020
0040
0060
0080
0010
000
Mon
thly
Fre
quen
cy
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016Date (April 2005 - March 2016)
REO 3-Month Moving Average Actual REONOD 3-Month Moving Average Actual NOD
Source: RealtyTrac
Notices of Default and Repossessions
Page| 18
Nevada’sHousingMarket |March2016
RuralTrends
Population:146,138 in2015 HousingUnits:66,445in2014
Source:U.S.CensusBureau:StateandCountyQuickFacts (Elko,Esmeralda,Eureka,Humboldt,Lander,Lincoln,Mineral,Nye,Pershing,andWhitePineCounty)
Page| 19
RuralTrends Newhomesalesdecreasedonamonthtomonthbasisforthefourth
consecutivemonth.March2016wasthefifthconsecutivemonthwherenewhomesalesincreasedmorethan100percentonayearoveryearbasis.
14.1percentofallmortgageswereunderwaterattheendof2016Q1.Thiswasdown2.8percentagepointssince2015Q4and3.9percentagepointssince2015Q1.
Newandexistinghomepricesbothdecreasedforthesecondconsecutivemonth.Distresshomepricesdecreasedforthethirdconsecutivemonth.
ExistinghomepriceswerethelowesttheyhadbeensinceJuly2013.
Nye
Elko
Clark
Lincoln
Humboldt
Washoe
WhitePine
Lander
Pershing
Eureka
Churchill
Mineral
Lyon
Esmeralda
Douglas
Storey
CarsonCity
Nevada’sHousingMarket |March2016
Single‐FamilyHomeSales* March2016 M2MChange Y2YChangeNew 10 ‐28.6% +150.0%Existing 119 ‐8.9% +10.9%DistressShare 10.0% ‐34.0% ‐45.4%
ResidentialConstructionTotalStarts 15 +9 ‐41Single‐Family 15 +9 ‐5Multifamily 0 +0 ‐36
AverageSingle‐FamilySalesPrice*New $238,554 ‐0.8% ‐6.6%Existing $120,542 ‐5.3% ‐3.8%Distress $88,697 ‐10.8% ‐8.8%
Source:LiedInstitutecalculationsusingCoreLogic DataandtheStateoftheCitiesDataSystems byU.S.DepartmentofHousingandUrbanDevelopment.*FiguresportrayThree‐MonthMovingWeightedAverages
RuralTrends
Page| 20
Nevada’sHousingMarket |March2016
5010
015
020
025
030
0A
vera
ge P
rice
in T
hous
ands
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
Date (January 2000 - March 2016)
Existing New
Source: CoreLogicNote: Series are 3-month weighted moving averages.
Single-Family Home Prices
020
040
060
080
0M
onth
ly N
umbe
r of S
ales
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
Date (January 2000 - March 2016)
Existing New
Source: CoreLogicNote: Series are 3-month weighted moving averages.
Single-Family Home Sales
010
2030
40S
hare
of D
istre
ss S
ales
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
Date (January 2000 - March 2016)Source: CoreLogic
Share of Distress Single-Family Home Sales
020
4060
80M
onth
ly N
umbe
r of S
ales
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
Date (January 2000 - March 2016)
REO Sales Short Sales
Source: CoreLogicNote: Series are 3-month weighted moving averages.
Single-Family Distress Sales
Page| 21
RuralTrends
Nevada’sHousingMarket |March2016
0.5
11.
5C
ount
in T
hous
ands
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
Date (January 2000 - March 2016)
90+ Days Delinquent Foreclosure Inventory
Source: CoreLogic
Foreclosure Trends
14.0717.9923.36
31.6539.69
46.37
100
9080
7060
5040
3020
100
Per
cent
2011 2012 2013 2014 2015 2016
Source: CoreLogic
(Home Value - Mortgage Balance)Equity Measures as of Quarter 1, 2016
Positive Equity Negative Equity
050
100
150
200
Mon
thly
Fre
quen
cy
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016Date (April 2005 - March 2016)
Notice of Trustee Sales 3-Month Moving Average
Source: RealtyTrac
Residential Home Auctions
050
100
150
200
Mon
thly
Fre
quen
cy
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016Date (April 2005 - March 2016)
REO 3-Month Moving Average Actual REONOD 3-Month Moving Average Actual NOD
Source: RealtyTrac
Notices of Default and Repossessions
Page| 22
About the Lied Institute
The Lied Institute was established in 1989 by the LeeBusiness School at the University of Nevada, Las Vegasto foster excellence in real estate education andresearch. Through partnerships with business andcommunity leaders, the Lied Institute strives toimprove the real estate business and effective publicpolicy practices in Southern Nevada. The instituteproduces relevant and timely real estate research,supports educational programs in real estateeconomics and finance for students and professionals,and provides community outreach and continuingeducation.
LiedInstituteforRealEstateStudies4505S.MarylandParkway,Box456025
LasVegas,NV89154‐6025
EdwardCoulsonDirector
(702)895‐[email protected]
BettyCampbellProgramCoordinator(702)895‐4492
PeterCountsDataAnalyst
(702)895‐[email protected]
©Copyright2013ReportonNevada’sHousingMarketReadersmayreproducethepublication’sitemsiftheycitethepublicationnameanddate,andnotethecopyrightofLiedInstituteforRealEstateStudies,UniversityofNevada,LasVegas.
Nevada’sHousingMarket |March2016