Colorado Springs, Charleston and Raleigh the Top Markets For Movers in Q1 2017 According to New ATTOM Data Solutions Index

New “Pre-Mover” Housing Index Based on Residential Purchase Loan Application Data;
62 Percent of Pre-Movers Purchase Home Within 30 Days of Estimated Settlement Date;
Index Also Identifies Top Second Home Markets and Top Investment Home Markets

IRVINE, Calif. – June 1, 2017 — ATTOM Data Solutions, curator of the nation’s largest multi-sourced property database, today released its first-ever Pre-Mover Housing Index, which shows that in Q1 2017 the markets with the highest pre-mover indices were Colorado Springs, Colorado, Charleston, South Carolina, and Raleigh, North Carolina.

Using data collected from purchase loan applications on residential real estate transactions, the ATTOM Data Solutions Pre-Mover Housing Index is based on the ratio of homes with a “pre-mover” flag in a quarter to total homes in a given geography, indexed off the national average. An index above 100 is above the national average and indicates an above-average ratio of homes that will likely be sold in the next 30 days in a given market. Historical pre-mover data going back to Q1 2014 shows that 62.2 percent of homes with a pre-mover flag sell within 30 days of the estimated loan settlement date that is provided in the pre-mover data.

“The first quarter pre-mover data reinforces that home buyers in 2017 are more likely to be moving to markets — or moving up within markets — that still have relatively affordable housing inventory along with access to jobs,” said Daren Blomquist, senior vice president at ATTOM Data Solutions. “The  pre-mover data also shows a similar migration toward affordability at the county level within some higher-priced markets such as New York, Seattle and Southern California, where the highest pre-mover indices show up in counties that tended to be lower priced but further out from urban centers. One exception to that pattern was Washington, D.C., where the highest pre-mover indices for the first quarter tended to be in higher-priced counties.”

Metro areas with highest and lowest pre-mover indices in Q1 2017

Among 120 metropolitan statistical areas analyzed with at least 100,000 single family homes and condos and sufficient pre-mover data, those with the highest pre-mover indices in the first quarter of 2017 were Colorado Springs, Colorado (251); Charleston, South Carolina (225); Raleigh, North Carolina (225); Tampa-St. Petersburg, Florida (209); and Washington, D.C. (209).

Among those same 120 metro areas, those with the lowest pre-mover indices in the first quarter of 2017 were San Francisco, California (22); Providence, Rhode Island (38); Hartford, Connecticut (42); Boston, Massachusetts (43); and Rochester, New York (45).

“Seattle is currently experiencing an incredibly busy housing market, but the number of homes for sale remains at historic lows, causing the pre-mover index in King County to run below the national average,” said Matthew Gardner, chief economist with Windermere Real Estate, covering the Seattle market. “In contrast to this, our neighbors to the south in Pierce County have a pre-mover index well above the national average which suggests that prices are more affordable and home availability relatively plentiful, leading to strong demand for homes in their area and pushing their index level higher.”

Counties with highest and lowest pre-mover indices in Q1 2017

Among 317 U.S. counties analyzed with at least 50,000 single family homes and condos and sufficient pre-mover data, those with the highest pre-mover indices in the first quarter of 2017 were Forsyth County, Georgia, in the Atlanta metro area (326); Loudon County, Virginia, in the Washington, D.C. metro area (310); Prince William County, Virginia, in the Washington, D.C. metro area (280); Henry County, Georgia, in the Atlanta metro area (278); and Berkeley County, South Carolina, in the Charleston metro area (268).

Among those same 317 counties, those with the lowest pre-mover indices in the first quarter of 2017 were Wayne County, Michigan, in the Detroit metro area (29); Queens County, New York (32); Honolulu County, Hawaii (33); Cameron County, Texas in the Brownsville metro area (46); and San Mateo, California, in the San Francisco metro area (46).

Markets with highest share of second home pre-movers

Nationwide, 3.3 percent of all homes with a pre-mover flag in Q1 2017 were identified as second homes in the pre-mover data.

Among the 120 metro areas analyzed in the report, those with the highest share of pre-mover-flagged homes that were identified as second homes were Naples, Florida (28.5 percent); Cape Coral-Fort Myers, Florida (17.4 percent); Myrtle Beach, South Carolina (17.2 percent); Sarasota, Florida (17.2 percent); and Portland, Maine (11.7 percent).

Markets with highest share of investment home pre-movers

Nationwide, 4.7 percent of all homes with a pre-mover flag in Q1 2017 were identified as investment homes in the pre-mover data.

Among the 120 metro areas analyzed in the report, those with the highest share of pre-mover-flagged homes that were identified as investment homes were Memphis, Tennessee (29.6 percent); Indianapolis, Indiana (13.9 percent); Cleveland, Ohio (11.0 percent); Durham-Chapel Hill, North Carolina (10.3 percent); and Dayton, Ohio (10.1 percent).

Report methodology
Using data collected from purchase loan applications on residential real estate transactions, the ATTOM Data Solutions Pre-Mover Housing Index is based on the ratio of homes with a “pre-mover” flag to total homes in a given geography, indexed off the national average. Any index above 100 is above the national average and indicates an above-average ratio of homes that will likely be sold in the next 30 days in a given market. Historical pre-mover data going back to Q1 2014 shows that 62.2 percent of homes with a pre-mover flag sell within 30 days of the estimated loan settlement date that is provided in the pre-mover data.

About ATTOM Data Solutions
ATTOM Data Solutions is the curator of the ATTOM Data Warehouse, a multi-sourced national property database that blends property tax, deed, mortgage, foreclosure, environmental risk, natural hazard, health hazards, neighborhood characteristics and other property characteristic data for more than 150 million U.S. residential and commercial properties. The ATTOM Data Warehouse delivers actionable data to businesses, consumers, government agencies, universities, policymakers and the media in multiple ways, including bulk file licenses, APIs and customized reports.

ATTOM Data Solutions also powers consumer websites designed to promote real estate transparency: RealtyTrac.com is a property search and research portal for foreclosures and other off-market properties; Homefacts.com is a neighborhood research portal providing hyperlocal risks and amenities information; HomeDisclosure.com produces detailed property pre-diligence reports.

ATTOM Data and its associated brands are cited by thousands of media outlets each month, including frequent mentions on CBS Evening News, The Today Show, CNBC, CNN, FOX News, PBS NewsHour and in The New York Times, Wall Street Journal, Washington Post, and USA TODAY.

Media Contact:
Jennifer von Pohlmann
949.502.8300, ext. 139
jennifer.vonpohlmann@attomdata.com

Data Licensing and Custom Report Orders
Investors, businesses and government institutions can contact ATTOM Data Solutions to purchase the full dataset behind the Environmental Hazards Housing Risk Index, including data at the state, metro, county and zip code level. The data is also available via bulk license or in customized reports. For more information contact our Data Solutions Department at 800.462.5125 or datasales@attomdata.com.

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