Home Price Gains and Foreclosure Processes

After spotting this item at Business Insider about the huge difference in foreclosure rates between states that have judicial vs. non-judicial foreclosure processes and how this has contributed to the disparity in recent home price gains, I was curious to see how those home price gains might look on a chart - here’s the result:

The thinking here is that states with the faster, non-judicial foreclosure processes saw more distressed housing inventory coming to the market sooner, pushing prices lower early on, but, less inventory over the last year or so has helped to push prices higher. In contrast, the slower foreclosure process in the highly populated Northeast has seen a more steady flow of distressed properties on the market over the years resulting in smaller price declines initially, but smaller increases (or declines) over the last year.