The Market Snapshot for March, brought to you by The Title Report and eLynx, shows a subtle break from a months-long trend. March data indicates an increase in percentage of closings away from the West and toward the East and South.
- Although the West still had the largest regional share of percentage of closings at 30.2 percent, it was also home to the largest regional decrease month-to-month (1.5 percent).
- The Midwest also saw a significant decline of 0.7 percent.
- In contrast, the Northeast (0.2 percent), Southwest (0.7 percent) and Southeast (1.2 percent) all increased their share in March, with the Southeast seeing the greatest increase.
- In spite of the slight shift, however, the relative rankings of each region remained the same for the eighth consecutive month.
The sample in the Market Snapshot is based upon eLynx’s nationwide settlement agent database and reports gathered from transactions involving 100,000 settlement agents registered upon the eLynx network, which collects information throughout the mortgage and settlement document lifecycle.