
Waltham, MA (PRWEB) May 15, 2012
Pro Teck Valuation Services May HomeValueForecast.com Update explores important housing indicators, such as the number of home sales and months of remaining inventory (MRI) and their impact on home prices nationwide and in select markets. Mays HomeValueForecast.com demonstrates that many metro areas hardest hit by price declines may be recovering due to increasing home sales and reduced inventories of homes. Also, the U.S. housing market is stabilizing according to leading MRI indicators.
One of the most important developments in the past year for the residential real estate market has been the significant decline in the inventory of homes for sale. Nationally, the number of homes currently listed are down 21 percent from a year ago, said Tom OGrady, president and CEO of Pro Teck Valuation Services. This months HomeValueForecast.com shows that for a number of widely followed markets, the declines in housing stock are even greater. Its noteworthy that Phoenix, Miami, Atlanta, Orlando, and Riverside-San Bernardino, some of the hardest hit metros with regard to price declines since the market peak in 2006, are topping the list.
HomeValueForecast.com also found that various levels of MRI correspond to market condition terms. For example, with inventories between 0-5 months, a Strong market is determined, whereas metro areas with inventories on the market from 16-20 months would still be considered Weak.
OGrady also reported that nationally, the MRI is 6.3 months and is the lowest level since 2006. This indicates that the overall U.S. market is stabilizing according to the monthly update. Also, the months of housing inventory remaining nationally was at or below the 5 month threshold throughout the 2002 to 2005 period when nationwide home prices where experiencing their largest gains, he said.
In addition, this months HomeValueForecast.com included a listing of the 10 best and 10 worst performing metros as ranked by our market condition ranking model. The rankings are run for the single family home markets in the top 200 CBSAs on a monthly basis to highlight the best and worst metros with regard to a number of leading real estate market indicators, including: number of active listings, average listing price, number of sales, average active market time, average sold price, number of foreclosure sales, and number of new listings.
In May, contrary to other housing reports, the Rust Belt states including Michigan and Illinois are seeing positive trends due to significant declines in active listing counts over the past year, said Michael Sklarz, Principal of Collateral Analytics and contributing author to HomeValueForecast.com. This has led to most of these markets having balanced or tight markets based on their Months of Remaining Inventory values.
Mays top CBSAs include:
Boise City, Nampa, ID
Dallas-Plano-Irving, TX
Warren-Troy-Farmington Hills, MI
West Palm Beach-Boca Rotan-Boynton Beach, FL
Detroit-Livonia-Dearborn, MI
Peoria, IL
San Jose-Sunnyvale-Santa Clara, CA
Salt Lake City, UT
Cape Coral-Ft. Myers, FL
Fayetteville-Springdale-Rogers, AR-MO
On the flip side, a high percentage of the bottom-ranked metros are located in the Northeast. All of these locations have double digit Months of Remaining Inventory, added Sklarz. Also, prices in these metros have held up much better since the market peak in 2005-2006 compared to the current top ranked markets. We believe that the relative rankings in the bottom ranked metros are not offering the same bargains in terms of compelling prices and high rental yields as the top ranked ones.
The bottom CBSAs for May were:
Winston-Salem, NC
Virginia Beach-Norfolk-Newport News, VA-NC
New York-White Plains-Wayne, NY-NJ
Norwich-New London, CT
Hartford-West Hartford-East Hartford, CT
Newark-Union, NJ-PA
Duluth, MN-WI
Nassau-Suffolk, NY
Poughkeepsie-Newburgh-Middletown, NY
New Haven-Milford, CT
Highlighting HomeValueForecast.coms belief that all real estate trends are local, Mays analysis also shows that the West Palm Beach-Boca Raton-Boynton Beach, FL CBSA, which is currently in the list of the Top 10 metros is no exception to have experience significant price declines since the market peak in 2005-2006. According to HomeValueForecast.com, the price peak in this metro occurred in the 4th quarter of 2005 and prices have since declined 52 percent.
Like any market, bargain prices will bring out buyers this is clearly happening in the West Palm Beach CBSA, added Sklarz. Nearly all of the important market indicators are showing positive trends on a year-over-year basis including declining inventory, declining market times and less distressed sales activity to name a few.
HomeValueForecast.coms unique micro market data provides timely and comprehensive information on sales, listings, and off-market activity for 90 percent of the U.S. housing stock. This data enables Pro Teck to provide home price indexing, forecasting, and market analytics from a national, regional and ZIP/neighborhood level. For the full monthly update, check out http://www.HomeValueForecast.com.
Reporters who are interested in national, regional or metro level housing data tailored to meet story needs, please email your inquiry to mediarequest(at)protk(dot)com
About HomeValueForecast.com
HomeValueForecast.com was created from a strategic partnership between Pro Teck Valuation Services and Collateral Analytics. HVF provides insight into the current and future state of the U.S. housing market, and delivers 14 market snapshot graphs from the top 30 CBSAs.
HomeValueForecast.com delivers a monthly briefing along with Lessons from the Data, an in-depth article based on trends unearthed in the data.
HVF is built using numerous data sources including public records, local market MLS and general economic data. The top 750 CBSAs as well as data down to the ZIP code level for approximately 18,000 ZIPs are available with a corporate subscription to the service. To learn more about Home Value Forecast and Pro Tecks full suite of residential real estate valuation products visit us at http://www.proteckservices.com.
Media Contact: Janice Walker, JD Walker Communications, LLC
781-290-6528 or jdwalker(at)jdwalkercommunications(dot)com







StockReports.net Issues Commentary & Reports For May 3rd, 2012 Watch List: SunPeaks Ventures, SEFE Inc., Domark International Inc, Synacor Inc and Great Wall Builders
New York (PRWEB) May 03, 2012
Sunpeaks Ventures Inc saw heavy selling and tanked 17% after briefly hitting an all-time low of $ 0.26. The recent selling pressure has eroded about 85% of the companys total market value. Volume was heavy with over 30 million shares traded.
There was panic all around among investors wondering if the shares would continue to loose value or bounce. Find out what the technical indicators are screaming about SunPeaks Ventures shares
The Free Trend Analysis Report here: http://Clicky.me/SunPeaks-Ventures
SEFE Incorporateds shares have been showing increased selling pressure following a solid run up last month. Todays sharp decline was partly attributed to a seeking alpha article that prompted curiosity about the recent volatility due to high promotion.
Considering the recent trend in SEFE’s stock, Investors are wondering if there could be more momentum ahead
Find Out What StockReports.net has Learned About SEFE Incorporated and how it could affect the way this stock is traded By Reading the Free Trend Analysis Report.
http://Clicky.me/SEFEInc
Synacor Inc. traded over 2.27 million shares. The stock was up 9.60% at $ 11.06, extended its one week rally to over 57%. Recently the company announced the acquisition of the HTML5 Platform.
Find out how the latest developments on Synacor Inc. could affect shares of Synacor Inc. by reading the Free Trend Analysis Report. http://clicky.me/Synacor
Domark International Inc continued to show high volume with over 1.35 million shares. The stock was recently up 31.62% to $ 1.79. The companys shares have jumped over 167% over the past two-week.
Domark International, Inc. was formed to engage in the acquisition and refinishing of aged furniture using materials and then reselling it through interior decorators, high-end consignment shops and online sales.
Read the Full Trend Analysis Report on Domark International Inc. http://clicky.me/Domark
Great Wall Builders Ltd added another 16% to $ 0.64 after climbing 50% in yesterdays session. Volume was quite high with over 1.45 million shares traded. Recently, the company announced the appointment of three new members of its Board of Directors; Daniele Brazzi, Dominico Chiovitti and Jay Almeida.
Find out how much higher shares of Great Wall Builders Ltd could go following this most recent development by reading the Free Trend Analysis Report.
http://clicky.me/Great-Wall-Builders
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