NEW YORK, Nov. 4 /PRNewswire/ -- Reports from the first days of November show
that the housing market is still on shaky ground. According to the statistics
from ForeclosureDataonline.com, real estate prices on the whole are down
already for the first three days of November as compared with October's
average. The foreclosure market appears strong however. It grew over this same
period and shows the kind of steady growth that is apt to continue.
The biggest increase in foreclosure sale prices was here in Arizona where the
average foreclosure sale price is up 15.51% for the first three days of
November at $285,257 compared with $246,944 for all of October. Other states
saw more modest increases including: California, which had a 1.83% increase
from $356,608 to $363,133; Nevada, which had a 1.45% increase from $306,505 to
$310,943; Texas, which had a 1.27% increase from $132,443 to $134,125; and
Florida, which had a 1.05% increase from $228,602 to $230,995.
Also important to note is the ForeclosureDataonline.com statistics that show
that foreclosure prices were only down in three states when comparing the
early November average to the October average. Maine saw a -1.88% change in
average foreclosure sale price from $116,742 to $114,547. West Virginia saw a
smaller -0.72% change from $108,801 to $108,022 from October to November.
Finally, Washington State saw a -0.6% change from 284,742 to $283,037 by the
beginning of November.
The overall increase in foreclosure sale prices nationwide can be attributed
to a certain degree to the smaller number of houses in that market as the rate
of foreclosure slows. Foreclosure sales also appear to be an excellent
investment as prices are still below fair market value and are climbing every
month.
The real estate markets are still quite volatile, so it is important to keep
up with the current numbers in order to track the trends. You can find the
latest statistics at ForeclosureDataonline.com.
SOURCE ForeclosureDataOnline.com
Ray Murray of ForeclosureDataOnline.com, +1-718-732-2676,
ray@foreclosuredataonline.com
