Housing data: Cuyahoga, Lucas, and state trends

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Presentation transcript:

Housing data: Cuyahoga, Lucas, and state trends Matt Klesta June 15, 2012 The views expressed are mine and not necessarily those of the Federal Bank of Cleveland or the Federal Reserve System

FHFA Home Price Index 2000:Q1 – 2012:Q1 2000:Q1 = 100 Source: FHFA/Haver Analytics

Percent of all loans greater than 90 days delinquent Percent of all loans in foreclosure April 2007 – April 2012 Source: Lender Processing Services (LPS) Applied Analytics

Loans entering 90 days delinquency in Ohio 2010:Q1 & 2010:Q2 Source: Calculations based on loan modification flagging algorithm on LPS data.

Community Stabilization Index (CSI) Methodology Zip code Components normalized to 0-1 1 being most distressed Data source LPS 65% of U.S. mortgage market Why it’s useful Provides policymakers and community leaders with a snapshot of a region’s housing market health and recovery potential Periodic recalculations give the ability to track relative changes through time Index components

Cuyahoga County Community Stabilization Index January 2012 Percentage Point Change in Foreclosure Rate January 2011 – January 2012 Source: Lender Processing Services and authors’ calculations

Lucas County Community Stabilization Index Percentage Point Change in Foreclosure Rate January 2012 January 2011 – January 2012 Source: Lender Processing Services and authors’ calculations

Questions or comments? Matt Klesta 216-579-3166 Matthew.klesta@clev.frb.org www.clevelandfed.org/communitydevelopment