Fourth Quarter 2014 Housing Summary

During the months of October and November home sales were down, while December was up 11.7% compared to 2013. There were 8,047 closings in the 4th quarter of 2013 and 7,821 in the fourth quarter of 2014, which is a decrease of 2.8%. Short sale and REO closings continue to decline in 2014. In the fourth quarter of 2013, there were 1,832 short sale closings and 804 in 2014 for a 56.1% decrease. In the fourth quarter of 2014, there were 607 REO closings and 681 in 2014 for an 8.9% increase. While short sale transactions are down there are approximately 60,000 properties still underwater.