Question-and-Answer Session
Operator
(Operator Instructions) The first question is from Brian Foran from Goldman Sachs.
Brian Foran - Goldman Sachs
You mentioned Florida home prices and that you expect them to continue to fall. How much further are you expecting and is the recent improvement Case-Shiller data just a head fake in your opinion?
Jim Wells
For our forecasting purposes, we generally use the Case-Shiller data, and so are expecting between 15% and 20% declines right now in the Florida market. That’s a really bad answer because there are five or six separate markets. Some of the northern and more central markets are showing much better performance with South Florida actually beginning to show some signs of improvement. We are seeing increasing home sales in Florida, and backlogs are reducing somewhat. However, the real answer is 15% to 20% is what's in our forecast.
Brian Foran - Goldman Sachs
And then on the NPA improvement, the dollars of NPA improvement, did you give or can you give a breakdown between inflows, pay downs, and any loans sales that happened in the quarter?
Jim Wells
We don't disclose those individual flows. We still had clear inflows. Our ability to balance with better outflows this quarter was actually fairly significant. One thing I can share with you is that we managed the business on a statistic which is basically homes or properties available for sale.
So, during the quarter, we are able to get through in 90 days, about 75% of the available for sale inventory on a rolling basis. That has been a significantly improving statistic for us. It’s helping us as we get better flow through the foreclosure process, specifically in Florida for rapid disposition of the assets and making sure we don't hold them for long periods of time on the balance sheet.
Steve Shriner
Thanks, Brian. One other point, this is Steve. We did not conduct any bulk or large sales of nonperforming or ORE this quarter, so normal course of business inflows and outflows.
Operator
The next question is from Craig Siegenthaler from Credit Suisse.
Craig Siegenthaler - Credit Suisse
First just on the home equity portfolio. It’s looking like delinquencies are continuing to rise here. Can you talk about some of the drivers here? Any reason to think that this third quarter could have been the peak in home equity delinquencies? That was just my first question.
Jim Wells
- To read the full transcript on Seeking Alpha, click here »
