(As of April 6, 2009)
Source: http://www.countrywide.com/purchase/f_reo.asp
Click on state below for detailed listings.
| State | Count | Total Asking Price($) | Average Asking Price($) |
| AK | 29 | 5,376,700 | 185,403 |
| AL | 162 | 22,914,886 | 141,450 |
| AR | 57 | 5,687,299 | 99,777 |
| AZ | 658 | 97,732,200 | 148,529 |
| CA | 2,694 | 637,381,149 | 236,593 |
| CO | 161 | 26,520,897 | 164,726 |
| CT | 90 | 15,674,666 | 174,163 |
| DC | 27 | 5,769,198 | 213,674 |
| DE | 22 | 3,490,800 | 158,673 |
| FL | 985 | 125,282,569 | 127,190 |
| GA | 533 | 64,780,416 | 121,539 |
| HI | 66 | 23,392,900 | 354,438 |
| IA | 33 | 2,595,500 | 78,652 |
| ID | 79 | 19,587,000 | 247,937 |
| IL | 432 | 53,450,741 | 123,729 |
| IN | 192 | 11,592,292 | 60,377 |
| KS | 39 | 3,943,000 | 101,103 |
| KY | 84 | 8,095,699 | 96,377 |
| LA | 47 | 6,065,393 | 129,051 |
| MA | 127 | 21,500,197 | 169,293 |
| MD | 219 | 44,804,972 | 204,589 |
| ME | 21 | 1,374,896 | 65,471 |
| MI | 688 | 48,810,794 | 70,946 |
| MN | 323 | 47,278,294 | 146,372 |
| MO | 133 | 11,883,100 | 89,347 |
| MS | 80 | 7,761,294 | 97,016 |
| MT | 16 | 5,410,400 | 338,150 |
| NC | 217 | 32,126,696 | 148,049 |
| ND | 04 | 489,600 | 122,400 |
| NE | 26 | 2,525,300 | 97,127 |
| NH | 34 | 5,565,599 | 163,694 |
| NJ | 160 | 32,604,992 | 203,781 |
| NM | 35 | 4,788,298 | 136,809 |
| NV | 809 | 120,744,634 | 149,252 |
| NY | 176 | 36,756,195 | 208,842 |
| OH | 256 | 16,796,590 | 65,612 |
| OK | 90 | 10,011,999 | 111,244 |
| OR | 107 | 21,609,317 | 201,956 |
| PA | 116 | 11,867,598 | 102,307 |
| RI | 63 | 6,692,201 | 106,225 |
| SC | 107 | 20,075,698 | 187,623 |
| SD | 09 | 947,099 | 105,233 |
| TN | 188 | 22,213,550 | 118,157 |
| TX | 443 | 59,721,445 | 134,811 |
| UT | 69 | 20,980,999 | 304,072 |
| VA | 281 | 47,952,881 | 170,651 |
| VT | 04 | 405,600 | 101,400 |
| WA | 159 | 33,147,199 | 208,473 |
| WI | 80 | 7,223,100 | 90,289 |
| WV | 19 | 1,799,095 | 94,689 |
| WY | 04 | 392,600 | 98,150 |
| Total | 11,453 | 1,845,595,537 | 148,537 |
Note: California Average REO Asking Prices have increased +4.2% from last month, and are down -41% from their peak of $400,000.
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6 comments:
These are some very interesting charts. They look somewhat similar to what I've seen at ListingSupply.com, which tracks the number of MLS listings in various markets. I think a lot of big investors are looking to cheap real estate for protection from the coming inflation.
One reason the REO average price for CA is ticking upwards might be that properties in CA upscale neighbourhoods have just begun to enter the REO market. For instance, an house that sold for 2 millions in 2005 might be on sale now (as a REO) for 1 million, not necessarily a good thing for CountryWide. A thorough analysis of the REO portfolio in CA is needed to confirm this hypothesis.
Or maybe it is just a blip. :)
Hey, with today's announcement it looks like the Countrywide data comes to an end.
Thanks for the work. It's been a very interesting read over time.
That is a great information on Countrywide foreclosure.The charts are very interesting! Also- I found information that might help as well. http://www.shortsalebizinabox.com. Keep up the posts! I enjoy reading them!
Where did these homes go? I watched four Countrywide owned homes on one street (Cowan Way, Livermore, CA) until they were no longer listed. It did not appear they sold. Are these becoming part of the phantom inventory?
One interesting chart is Florida. It looks like the volume of REO listings is decreasing (being bought up) yet the price is decreasing. This seems incongruous because if the supply is decreasing you'd expect prices to increase. Does anyone know the Florida market well enough to explain this? One possible explanation is that the REO's that are being taken off the market through purchases are ones that have an extremely low price and are outpacing the higher priced REO's. The other is that the number of purchases (demand) are outpacing the number of foreclosures (supply) and the ones that are being sold are the lowest prices ones. Any other thoughts or is the Florida market truly out of line with basic economic principles? Thanks.
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