Tuesday, October 23, 2012

Lawler: Estimated REO Inventories by State

by Bill McBride on 10/23/2012 04:42:00 PM

CR Note: This is a very useful website. The estimate of lender Real Estate Owned (REO) in June was very close to the bottom up estimate using data from the FHA, Fannie, Freddie, the FDIC and more.

From economist Tom Lawler:

Folks interested in REO inventories by state might want to take at look at the website below from the FRB of New York. According to the FRBoNY, the data were “provided by CoreLogic under contract.”

An Assessment of the Distressed Residential Real Estate Situation

The site shows a map and you have to click on each state to get data, and I couldn’t get DC (I don’t think it was available!), but here’s the data for June 30, 2012

Number of REO by State, June 2012
Northeast 
Connecticut2,345
Maine910
Massachusetts7,501
New Hampshire2,847
New Jersey1,979
New York2,557
Pennsylvania7,712
Rhode Island2,110
Vermont264
South 
Alabama7,644
Arkansas1,027
Delaware1,163
District of Columbia 
Florida44,677
Georgia33,537
Kentucky4,442
Louisiana4,756
Maryland4,614
Mississippi2,907
North Carolina12,005
Oklahoma3,009
South Carolina5,775
Tennessee10,575
Texas22,528
Virginia8,810
West Virginia1,780
Midwest 
Illinois33,584
Indiana7,548
Iowa2,792
Kansas3,540
Michigan38,275
Minnesota16,761
Missouri10,821
Nebraska1,184
North Dakota128
Ohio18,533
South Dakota471
Wisconsin9,807
West 
Alaska494
Arizona12,465
California49,299
Colorado8,596
Hawaii936
Idaho2,131
Montana826
Nevada7,882
New Mexico2,575
Oregon4,452
Utah4,193
Washington7,461
Wyoming905
Total (ex-DC)443,133