Veros Releases Quarterly U.S. Real Estate Forecast Forecast Results
Jul 09, 2009
Predictive Analytics Assess the Nation's Future Five Strongest and Weakest Markets through June 2010
Santa Ana, CA - July 9, 2009 - Veros Real Estate Solutions has released its quarterly annual forecast of U.S. real estate markets including expectations on the country's strongest and weakest areas. Providing one of the industry's most accurate residential real estate trend forecasts, the results covering July 1, 2009 to June 30, 2010 indicate the rates of forecasted decline in the hardest hit markets are slowing and many hard-hit markets are projected to stabilize over the next 12 months.
The projected five strongest housing markets for major metro areas among singlefamily residences in the median price tier, according to the latest VeroFORECAST, include: Lubbock, TX; Oklahoma City, OK; and Waco, TX all up three percent, as well as Topeka, KS and Springfield, MO each up two percent.
The five weakest market projections include: Port St. Lucie/Ft. Pierce, FL; Miami/Ft. Lauderdale, FL and Las Vegas/Paradise, NV all showing 15-percent declines. Posting a 14-percent decline is the Detroit/Warren/Livonia, MI market, and at a 12- percent decline is the Reno/Sparks, NV market.
Since 2003, Veros has been a leader in real estate industry valuation forecasting analysis, providing highly accurate market predictions looking out as far as 18- months into the residential real estate landscape.
"We make it our business not only to perform and share our projections, but to do constant due diligence on our findings," states Eric Fox, vice president of technology for Veros. "It is because of the thorough and precise measurement of our results our clients feel confident using the data we provide them to manage risk in today's turbulent markets, creating stronger financial positions in both their short- and longterm business decisions."
Powered by VeroFORECAST, a flagship analytics product from Veros' diverse portfolio, the forecast reflects projected market gains and declines in most metropolitan areas. Covering more than 80 percent of the U.S., Veros' valuation forecast focuses on three levels of granularity including metro area, county and zip code, which help account for market variations at more meaningful decision levels. Veros applies more than 50 critical decisioning factors in its forecast analytics to develop strong and reliable market trend predictions. Key factors range from interest and unemployment rates, inflation, housing inventory levels to an array of relevant economic and geographic issues. Finally, the forecast release covers single-family residences and condo dwellings at three pricing tiers, making Veros' predictive offerings the most comprehensive among its peers.
To order the full VeroFORECAST update or for information on other Veros Real Estate Solutions products, systems and services, visit www.veros.com or call (714) 415-6300.
About Veros Real Estate Solutions:
Veros Real Estate Solutions, a proven leader in enterprise risk management and collateral valuation services, uniquely combines the power of predictive technology, data analytics and industry expertise to deliver advanced automated decisioning solutions. Veros products and services are optimizing millions of profitable decisions throughout the mortgage industry, from loan origination through servicing and securitization. Veros provides solutions to control risk and increase profits including automated valuations, fraud and risk detection, portfolio analysis, forecasting, and next-generation collateral risk management platforms. Veros is headquartered in Santa Ana, California. To order the VeroFORECAST update or receive information on other Veros analytic products and systems, visit www.veros.com or call (866) 458-3767.