Two interesting measures will be quarterly default notice as % of inventory and as % of quarterly sales for exsiting home. I assume that unless the lender and the default homeowner work out an alternate payment solution, otherwise the solution is always the sale of the house – either by the owner or by the bank. So I see default notices represent a pipeline of potential “urgent” sales coming on the market, then the above two percentages can be a leading indicator. I wouldn’t be surprised if these numbers have positive correlations to subsequent price changes. Anyone knows where to find the data needed to make the calculation?
Also, do you know if these default notices are “One-time” only, or do home owners in default get them in a couple of months in a row? How does the process work?
