nebraska housing update
DESCRIPTION
Nebraska Housing Update. Kelly D. Edmiston, Sr. Economist Federal Reserve Bank of Kansas City. Existing Home Sales. Data source: National Association of Realtors; Omaha Realtors Association. Months Supply of Homes. Data source: Omaha Realtors Association. Time on Market. - PowerPoint PPT PresentationTRANSCRIPT
Nebraska Housing UpdateKelly D. Edmiston, Sr. Economist
Federal Reserve Bank of Kansas City
Existing Home Sales
January 26, 2011 K. Edmiston, FRB KC 2
Data source: National Association of Realtors; Omaha Realtors Association
0
20
40
60
80
100
120
140
160
0
20
40
60
80
100
120
140
160
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010
Index (2000:Q1 = 100; 3-qtr moving average)
Omaha
U.S.
Months Supply of Homes
January 26, 2011 K. Edmiston, FRB KC 3
Data source: Omaha Realtors Association
8.1
6.3
0
1
2
3
4
5
6
7
8
9
0
1
2
3
4
5
6
7
8
9
Oct-02 Oct-03 Oct-04 Oct-05 Oct-06 Oct-07 Oct-08 Oct-09 Oct-10
Time on Market
January 26, 2011 K. Edmiston, FRB KC 4
10.1
12.7
19.0
15.2
0.0
5.0
10.0
15.0
20.0
25.0
0.0
5.0
10.0
15.0
20.0
25.0
Jul-09 Oct-09 Jan-10 Apr-10 Jul-10 Oct-10
Damaged REO Move-In Ready REO
Short Sale Non-Distressed
Average Weeks on Market
DELINQUENCY AND FORECLOSURE SITUATIONNebraska Housing Update
January 26, 2011 K. Edmiston, FRB KC 5
Future DirectionStatus of Mortgage Pool Nebraska
OmahaMetro
Omaha City
USA
Delinquent 30 days 2.6 2.6 2.9 3.1
Delinquent 60 days 1.0 1.0 1.2 1.3
Delinquent 90 days + 1.7 1.8 2.1 3.6
In Foreclosure Process 1.2 1.2 1.3 3.5
SERIOUSLY DELINQUENT 2.9 3.0 3.4 7.2
TOTAL PAST DUE 6.5 6.7 7.4 11.6
Data Source: Lender Processing Services, Inc. (November, 2010 data)
K. Edmiston, FRB KC 6
January 26, 2011 K. Edmiston, FRB KC 7
Nebraska Serious Delinquencies (Nov 2010)
Data source: Lender Processing Services, Inc.
January 26, 2011 K. Edmiston, FRB KC 8
Omaha-Lincoln Serious Delinquencies (Nov 2010)
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Home Prices
January 26, 2011 K. Edmiston, FRB KC 9Data source: Federal Housing Finance Agency
11.9
-6.5
6.5
5.7
-2.4
-10
-5
0
5
10
15
-10
-5
0
5
10
15
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010
U.S.
Region
Nebraska
Annualized Percentage Change
Homebuyer Participation
January 26, 2011 K. Edmiston, FRB KC 10
48.2%
34.4%
0.0%
10.0%
20.0%
30.0%
40.0%
50.0%
60.0%
0.0%
10.0%
20.0%
30.0%
40.0%
50.0%
60.0%
Jul-09 Oct-09 Jan-10 Apr-10 Jul-10 Oct-10
Current Homeowner First-Time Homebuyer Investor
Share of Market
Home Prices
January 26, 2011 K. Edmiston, FRB KC 11Data source: Federal Housing Finance Agency
11.9
-6.5
6.5
5.7
-2.4
-10
-5
0
5
10
15
-10
-5
0
5
10
15
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010
U.S.
Region
Nebraska
Annualized Percentage Change
Home Price Trends
January 26, 2011 K. Edmiston, FRB KC 12
$105,900 $116,100
$203,600 $200,300
$217,400 $215,500
$266,800
$281,700
$0
$100,000
$200,000
$300,000
$400,000
$0
$100,000
$200,000
$300,000
$400,000
Jul-09 Oct-09 Jan-10 Apr-10 Jul-10 Oct-10
Damaged REO Move-In Ready REO
Short Sale Non-Distressed
Median Sales Price
Federal Reserve Bank of Kansas CityKelly D. Edmiston, Senior Economist
1 Memorial Drive
Kansas City, MO 64198
(816) 881 – 2004