HECM volume continued it’s straight line trend in the wrong direction in March, dropping below both of the most recent March volumes in the process. Q1 volume still came in 10.1% ahead of last year based on the January and February volumes, but tough sledding is ahead.
We highlighted Seattle last month in this report, but digging into our Market Opportunity tool in the Retail Dashboard gives a lot more insight than the headline numbers.
- Seattle is based in King County, which is up 41.6% in Q1 compared to Q1 2017
- 36.2% of King County volume in Q1 was HECM to HECM refinance (H2H), or 85 loans (easily highlighted by the refi% column in Market Opportunity)
- The remaining 150 non H2H loans were still 29.3% higher than Q1 2017 in King County (easily found using the new Custom date ranges in Market Opportunity)
The industry has undoubtedly gotten tougher in the past 8 months, but that only makes it more important to work smarter than before.
If you’re interested in finding opportunities like this in your territory, our Dashboard is the easiest tool to explore your market. Call Jon McCue at 682-651-5632 for your free trial.
For more on the national HECM Trends, get the full report by clicking the image below.