The PTC Report for February

February 2014

Building Permits	258
New Home Sales	126
Existing Home Sales	474
Refinance	630
Average Sales Price	185159.5
Financial-Bond Market(10-yr Treasury)	2.71
Days on Market	67.5
Distressed(Short Sales and REO)	1147
Notices of Default	161
PTC Index	132

The last full month of the winter season is behind us; February showed some positive numbers heading into the Spring. Building Permits inched up just slightly in January, but jumped by 18 percent in February. In the year ago time period, building permits stayed consistent at just a light increase of 2.4 percent. New home sales stayed flat from a year ago, but fell slightly by 5.3 percent from the month prior while existing home sales inched up slightly by just over 1 percent in the same period. After a long period of sharp monthly declines, refinances seem to be leveling out - down just 7.2 percent from the month prior (down roughly 60 percent from February 2013). After a long stint of systematic increases, the average Treasure Valley sales price dropped slightly by 5 percent, but still up 11.4 percent form a year which may be an indication of stabilization in home values. Notices of default continue to fall, while distressed properties (short sales and REO) rose slightly by 5 percent which will be an area to watch in the coming weeks.