Market Movers: Glance at Top Gainers and Losers in Loans Closed
August 25, 2011
eLynx, a real estate technology service provider, examined the Top 10 gainers and Top 10 losers from state to state with regard to real estate transactions closed. According to the latest analysis, several states experienced an increase in closings, although the gains for the top gainers were not quite as significant as those witnessed from May to June when Arkansas saw a gain of 51.7 percent in loans closed.
While early summer saw significant gains in closings for several states including Kansas and Tennessee, according to eLynx, six states experienced a double-digit drop in the percentage of loans closed from June to July.
Click here to view a chart of the Top 10 gainers and Top 10 losers.
Not a single Top 10 gainer from May to June repeated as a Top 10 gainer from June to July, perhaps a good indicator of continued market volatility, eLynx reported. Bellwether state Ohio did not enjoy the seasonal uptick in closings seen elsewhere, witnessing a 15.2 percent reduction in loans closed from May to June. Also of note is that the severity of change in the Top 10 losers was not as dramatic as it had been earlier in the spring. While the Top 10 losers from June to July peaked at a 15.3 percent reduction in loans closed from the previous month, the Top 10 losers from March to April hovered in the -20 to -25 percent range.