Housing Supply Metrics

by CalculatedRisk on 6/27/2010 08:13:00 PM
http://www.calculatedriskblog.com/2010/06/housing-supply-metrics.html

Here is a table of various housing supply measures (just putting this in one place with links to the source data).

Note: here is the Weekly Summary and a Look Ahead. It will be a busy week!

Housing Supply Overview:

Total delinquent loans (1) 7.3 million
Seriously delinquent loans (1,2) 5.0 million
Total REO Inventory (3) 0.5 million
Fannie, Freddie, FHA REO (4) 210 thousand
Homeowners with Negative Equity (5) 11.2 million
Homeowner vacancy rate (6) 2.6%
Rental vacancy rate (6) 10.6%
Excess Vacant Units (6,7) 1.7 million
Existing Home Inventory (8) 3.89 million
Existing Home Months of Supply (8) 8.3 months
New Home Inventory (9) 213 thousand
New Home Months of Supply (9) 8.5 months

1 Source: estimate based on the Mortgage Bankers Association’s (MBA) Q1 2010 National Delinquency Survey. "MBA’s National Delinquency Survey covers about 44.4 million first lien mortgages on one-to four-unit residential properties ... The NDS is estimated to cover around 85 percent of the outstanding first-lien mortgages in the country."

2 This is based on the MBA's estimate of loans 90+ days delinquent or in the foreclosure process.

3 Source: Radarlogic and Barclays as of Feb 2010.

4 Source: Fannie Mae, Freddie Mac and FHA. Fannie, Freddie, FHA REO Inventory Surges 22% in Q1 2010

5 Source: CoreLogic Q1 2010 Negative Equity Report

6 Source: Census Bureau Residential Vacancies and Homeownership in the First Quarter 2010

7 CR calculation.

8 Source: National Association of Realtors

9 Source: Census Bureau New Residential sales