Prices, Sales Improve in Largest Counties in December: DataQuick

Out of the 42 largest counties in the nation, all 42 exhibited price growth on a monthly, yearly, and quarterly basis in December, according to ""DataQuick's"":http://www.dataquick.com monthly Property Intelligence Report (PIR).

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DataQuick's PIR assesses the housing market based on valuation trends, REO inventory trends, and sales trends.

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In addition to positive price growth in all 42 counties, sales also showed substantial growth in December. Month-over-month, December sales increased in 32 out of 42 counties, up from just 13 counties in ""November"":http://dsnews.comarticles/report-home-sales-struggle-in-largest-counties-while-prices-increase-2012-12-19.

Over the last year, sales were up in 38 counties in December compared to 25 in November. On a quarterly basis, sales improved in 12 counties, up from 7 counties in November.

While home prices and sales improved, VP of analytics for DataQuick Gordon Crawford, Ph.D., noted foreclosures worsened compared to November.

""Several fiscal uncertainty factors including debt limits, proposed tax increases and spending cuts may lead to further weakening the housing market,"" he added.

In December, foreclosures increased month-over-month in 26 out of 42 counties, up from 18 in November. Over the last quarter, foreclosures were up in 27 counties compared to 22 in November. Over a one-year period, foreclosures rose in 21 counties in December compared to 13 in November.

""Although foreclosures continue to affect the market, a stabilizing labor market situation has contributed to strong home prices and sales growth over the last year,"" Crawford said.