A quick note on how you can search for Madison and Dane County foreclosure listings: We have six foreclosure search tools to assist you with your search for short sale and bank owned properties. All six 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.
In 2014, for every Dane County housing start there were .57 Dane County foreclosure filings. The ratio has improved (decreased) over the past four years, and we believe it will continue to improve in 2015.
Foreclosures used to be a big source of competition for new construction. However, foreclosures have decreased steadily over the last few years, and housing starts have increased.
Recent Trend - Housing Starts and Foreclosures
Housing starts remained stable over the last year. Foreclosures decreased significantly.
There were 1,038 Dane County housing starts during the 12 month period that ended in December of 2014, compared to 1,066 housing starts during the previous 12 month period. That represents a 2.6% decrease in housing starts.
There were 591 Dane County foreclosures during the 12 month period that ended in December of 2014, compared to 871 foreclosures during the previous 12 months. That's a decrease of 32.1%.
Recent Trend - Foreclosure to Housing Start Ratio
The ratio of foreclosures to housing starts is improving.
The ratio was .57 foreclosures for every housing start during the 12 month period that ended in Decmber of 2014. The ratio was .82 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. From 2008 to 2012 there were far more foreclosures than housing starts. Housing starts have significantly exceeded foreclosures each of the last 2 years.
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 2010, there were 2.9 Dane County foreclosures for every Dane County housing start.In the year 2014, there were only .57 foreclosures for every housing start. This was the lowest (best) ratio in the last 8 years.
This information is provided courtesy of Dan Miller , Shawn Kriewaldt , Chris Venden and Tammy Steiner of Keller Williams Realty and DaneCountyMarket.com. For more information, please contact:
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