2008 Listing Statistics for Columbus HUD Homes

Written by Susanne Novak on December 27, 2008 – 4:47 am -

We have published Columbus HUD Homes Maps for the past 10 weeks. This article summarizes the listing statistics and shows how the market for Columbus HUD Homes has changed. Our maps cover seven Central Ohio counties (Franklin, Delaware, Fairfield, Licking, Madison, Pickaway and Union). We see roughly 90 to 100 listings in Franklin County every week. The rest is spread out over the surrounding counties.

Take a look at the chart below. It shows the number of homes available for owner occupants (red) and for all bidders (includes investors) (green). The combination of both is the total number of HUD Homes listed for sale in Central Ohio.

Columbus HUD Homes Listing Chart

The exact numbers are displayed in the table below. They correspond to the ones we publish with new HUD Homes Maps every week.

Date	Owner Occ	Investors	Total List	New/Updated
11/02/08	73	90	163	54
11/07/08	79	55	134	63
11/14/08	46	56	102	30
11/21/08	53	56	109	51
11/28/08	59	59	118	59
12/05/08	54	42	96	54
12/12/08	76	41	117	76
12/19/08	93	37	130	93
12/26/08	59	64	123	59

The first column (Date) is the date when HUD updates their website, i.e. every Friday morning. “New/Updated” shows new listings or price reductions. In average we see between 20 and 30 new homes each week. This should also be the number of Columbus HUD Homes that go in contract each week.

As you look at the chart you see that there was a lot of bidding in the second half of November and early December, when homeowners took advantage of deals before the end of the year. Overall there is less activity in December which usually is the slowest month of the year.

What should you expect for the first quarter of 2009?

There will be a steady supply of HUD Homes as the government tries to get rid of its ever growing inventory.
Many owner occupants will take advantage of lower prices and favorable financing terms exclusively offered for HUD homes (such as $100 down programs, and repair allowances paid for by HUD)
Properties in need of extensive rehab will drop in price significantly. You will see more deals offered for below $10,000 and great opportunities for investors and landlords to expand their portfolio.

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Posted by: Susanne Novak, ABR, FIS
Specializing in HUD Homes, Shortsales, Investment Real Estate
(614) 975-9650

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