An above-average ratio of homes is likely to be sold in the next 90 days in Chicago, Washington, D.C., Orlando, Tampa-St. Petersburg and Atlanta, according to ATTOM Data Solutions’ Q2 2018 Pre-Mover Housing Index.
Those metropolitan areas posted the highest pre-mover index in the second quarter of 2018. ATTOM’s index uses data collected from purchase loan applications on residential real estate transactions to predict the ratio of homes that likely will be sold in the next 90 days in a given market.
“A higher pre-mover index bodes well for local real estate agents, home improvement stores, moving companies and others that benefit from the halo effect of a home sale,” ATTOM Senior Vice President Daren Blomquist said in a release. “Meanwhile markets with a low pre-mover index likely have a scarcity of inventory available to buy or relatively weak demand from prospective buyers — or some combination of both — which is not optimal for businesses that rely on the home sale halo effect.”
According to the index, Cleveland (38); Boston (39); Pittsburgh (48); Detroit 48); and San Francisco (49) had the lowest pre-mover index during this year’s second quarter.
States with the highest pre-mover index in the second quarter were North Dakota (275); Illinois (193); Nevada (164); Virginia (163); and Colorado (147), ATTOM said. Other states with a pre-mover index among the highest in Q2 2018 were New Jersey (133); Florida (133); Delaware (130); Maryland (127); and Utah (124).
The counties with the highest pre-mover index in the second quarter were Kendall County, Ill. (461); Albemarle County, Va. (337); followed by three Virginia counties in the Washington, D.C. metro area: Loudon County (319), Alexandria City (307); and Spotsylvania County (294), according to the index.
The counties with the lowest pre-mover index in the second quarter were San Francisco County (31); Queens County, N.Y. (33); Westchester County, N.Y. (36); Westmoreland County, Pa. (39); and Cameron County, Texas (42).