A quick note on how you can search for Madison and Dane County foreclosure listings: We have five foreclosure search tools to assist you with your search for short sale and bank owned properties. All five tools are available on our foreclosure search menu. Our foreclosure/housing start update follows.
Our foreclosure to housing start ratio looks at how Dane County housing starts and Dane County foreclosures are changing over time.
As of December 2012, for every Dane County housing start there were 1.69 Dane County foreclosure filings. The ratio has improved (decreased) over the past two years, and we believe it will improve significantly in 2013.
Foreclosures have been a big source of competition for new construction. However, foreclosures have been decreasing in recent months, and housing starts have been increasing, as the market continues to show signs of improvement in many different areas.
Recent Trend - Housing Starts and Foreclosures
Housing starts have increased in recent months. Foreclosures have decreased.
There were 777 Dane County housing starts during the 12 month period that ended in December of 2012, compared to 591 housing starts during the previous 12 month period. That represents a 31.5% increase in housing starts.
There were 1,315 Dane County foreclosures during the 12 month period that ended in December of 2012, compared to 1,374 foreclosures during the previous 12 months. That's a decrease of 4.3%.
Recent Trend - Foreclosure to Housing Start Ratio
The ratio of foreclosures to housing starts is moving lower.
The ratio was 1.69 foreclosures for every housing start during the 12 month period that ended in January of 2012. The ratio was 2.32 during the previous 12 months.
Annual Trend - Housing Starts and Foreclosures
Housing start and foreclosure volume have flip-flopped over the past decade.
In the year 2000, there were 1,957 Dane County housing starts and only 306 Dane County foreclosures. In the year 2011, there were only 591 housing starts compared to 1,374 foreclosures. However, the gap between foreclosures and housing starts decreased significantly in 2012.
Annual Trend - Foreclosure to Housing Start Ratio
In the year 2000, there were only .16 Dane County foreclosures for every Dane County housing start. In other words there were roughly 6 Dane County housing starts for every Dane County foreclosure.
In the year 2011, there were 2.32 Dane County foreclosures for every Dane County housing start. The ratio moved sharply lower in 2012 to 1.69.
This information is provided courtesy of Dan Miller, Shawn Kriewaldt, Chris Venden, Dasha Shy, and Jodi Shehadi of Keller Williams Realty and DaneCountyMarket.com. For more information, please contact:
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