The KUIK Closing Market Report for Tuesday, November 22:
Markets were up.
Index
Direction
Change
Units
Index
Time
Change
Dow
Up
67
points
19,024
1:53 PM
S&P500
Up
0.2%
percent
2,203
4.76
Nasdaq Composite
Up
0.3%
percent
5,386
17.49
30 Year Treasury
Unchanged
–
Basis Points
3.01
Annual Yield
Corelogic reports that nationwide, distressed sales accounted for 7.3% of all homes sales in August. The top five states are Maryland at 19%, Connecticut, Michigan, New Jersey, and Illinois. All the states in the top five except Michigan require that foreclosures take place in court. That can protect homeowners, but can also prolong distress in hard-hit areas because it takes longer. Only North Dakota and the District of Columbia are within a point of their pre-crisis level of distressed sales. Distressed sales were 2% before the 2007 crisis, and hit a peak of 32.4% in 2009.
Serving the West Side first I am Bill Roller of BR Capital for 1360 KUIK.
