Clear Capital Reports Potential Sign of Market Stability in Summer

Clear Capital, a provider of real estate asset valuation and risk assessment, released the findings of its monthly Home Data Index Market Report which showed signs of market stability by the end of summer.

The data shows that while home prices did decline 2.3 percent, that was half of the previous month’s decrease. Dr. Alex Villacorta, Director of Research and Analytics at Clear Capital, said that between the boost in spring sales and the summer buying season about to start, there is potential for the market to level out.

“We are still far away from the strong demand needed to fully turn things around for the housing market,” said Villacorta. “However, it is clear from the initial spring sales data that prices are softening, suggesting stabilization in the market.”

Seven of the top 15 markets reported quarter-over-quarter price gains, up from zero last month, and all 15 of these markets improved their REO, Real Estate Owned, saturation from last month.

According to Villacorta, the more downward momentum there is in the REO saturation rate, the more prices will stabilize and possibly increase.  

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