Industry Trends – May 2009

Yes, we know that it’s July and this report shows May numbers, but rest assured it’s not a typo. We’re crossing our fingers that we’ll be back on track with our June results — believe us when we say that we’d prefer to get these out ASAP… But, its summer, and we can’t promise that we won’t be hitting the beach for a litte R&R.

Given that we should be putting out June data in the next week, we’ll keep this overview short and sweet:

  • Florida has ceded the top spot back to California, as volume in Florida continues to nosedive, now down over 25% from last year.
  • We continue to see stong growth in the southern coastal counties of California (Los Angeles County +20%, Orange +125%, San Diego +4%).
  • Cook County in Illinois is also impressive, and along with Suffolk NY, extends its 40%+ growth rate.
  • California maintains its lock on the most penetrated cities list, holding 7 of the top 10, though Florida has 2 of the top 3.  Despite that, California still ranks 3rd overall, behind DC and Nevada.
  • Highest growth  state for the year: Montana — though it ranks quite low on the overall volume scale, with 241 loans YTD.

Industry Trends - May 2009