Colorado Springs ‘Top Mover’ in 1Q

Using data collected from purchase loan applications on residential real estate transactions, ATTOM Data Solutions, Irvine, Calif., identified Colorado Springs, Colo., as the hottest housing market in the first quarter.

The company’s inaugural 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 index reported other fast-moving markets included Charleston, S.C., and Raleigh, N.C..

“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 with ATTOM Data Solutions.

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 were Colorado Springs (251); Charleston (225); Raleigh (225); Tampa-St. Petersburg, Fla. (209); and Washington, D.C. (209). Those with the lowest pre-mover indices were San Francisco (22); Providence, R.I. (38); Hartford, Conn. (42); Boston (43); and Rochester, N.Y.

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, Ga. (326); Loudon County, Va. (310); Prince William County, Va. (280); Henry County, Ga. (278); and Berkeley County, S.C. (268). Lowest pre-mover indices were Wayne County, Mich. (29); Queens County, N.Y. (32); Honolulu County, Hawaii (33); Cameron County, Texas (46); and San Mateo, Calif. (48).

Nationwide, 3.3 percent of all homes with a pre-mover flag in the first quarter were identified as second homes in the pre-mover data. Markets with the highest share of pre-mover-flagged second homes were Naples, Fla. (28.5 percent); Cape Coral-Fort Myers, Fla. (17.4 percent); Myrtle Beach, S.C. (17.2 percent); Sarasota, Fla. (17.2 percent); and Portland, Maine (11.7 percent).

The report said 4.7 percent of all homes with a pre-mover flag in the first quarter were identified as investment homes in the pre-mover data. Markets with the highest share of pre-mover-flagged as investment homes were Memphis, Tenn. (29.6 percent); Indianapolis (13.9 percent); Cleveland (11.0 percent); Durham-Chapel Hill, N.C. (10.3 percent); and Dayton, Ohio (10.1 percent).