Nebraska Housing Update
13
Nebraska Housing Update Kelly D. Edmiston, Sr. Economist Federal Reserve Bank of Kansas City
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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 Presentation
Transcript of Nebraska Housing Update
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
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: Len
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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
