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)

Dat

a so

urce

: Len

der P

roce

ssin

g Se

rvic

es, I

nc.

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

Kelly.edmiston@kc.frb.org