VeroINDEX PLUS
VeroINDEX PLUS (VIP) is an index-only based automated valuation solution that provides time-based residential property valuations derived from advanced analysis of local and regional market trends. VIP is designed to:
 VIP is able to value almost any property. With the inclusion of a previous sale and date of sale, hit rates close to 100 percent are possible.
Independently calculated VeroVALUE and Realistic Value Range
Online Property Information and Local Market Data Access
Web-based Account Management for Time- saving Efficiency
Real-time Access to Performance Metrics, Security Features, Cost Controls, Track & Reporting
Specialized Variations for Default Properties, Accuracy vs, Hit Rate, Portfolio Needs, Expert-assisted Valuations and Fully Transparent AVM Cascades
TO SPEAK TO OUR SALES TEAM
The housing market situation is fundamentally different from that during the great recession of 2008. One of the key reasons why house prices have not declined significantly is because of the very low inventory of homes available for sale. There were fewer than one million existing homes available for sale in January 2023 compared to over 3 million in any month during 2007-2008.
High home prices coupled with high interest rates made purchasing a house increasingly unaffordable. As a result, demand for home purchases fell. Pending sales across the United States decreased by over 40% from mid-June to the end of 2022.
In this short article, we look at three different consumer mortgage metrics when comparing the economic conditions today to the Great Recession over a decade ago.