How This Document Can Predict Hot Housing Markets

Blomquist: “The markets that are most attractive and generating the most interest have homes that are relatively affordable.”

IRVINE, CA—Home-loan-estimate documents with the addresses of the desired properties can indicate show which markets are trending and likely to be strong with lots of sales activity going forward, ATTOM Data Solutions’ SVP Daren Blomquist tells GlobeSt.com. The firm recently 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, CO; Charleston, SC; and Raleigh, NC.

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% 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.