Markets & Economy

Real estate market recap, Jan. 4-8, 2016

The big news in real estate markets, recapped for your convenience

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Check Inman every day for the daily version of this market roundup.

Mortgage rates:

Home equity rates:

Thursday, Jan. 7:

Fannie Mae’s Home Purchase Sentiment Index for December 2015:

  • The index increased 2.4 points to 83.2 in December.
  • Respondents who said it is a good time to buy a house comprised 35 percent of the total.
  • Respondents who said it is a good time to sell a house comprised 8 percent of the total.


Mortgage Bankers Association’s Mortgage Credit Availability Index (MCAI) for December 2015:

  • The MCAI decreased 2.4 percent to 124.3 in December 2015.
  • The Conventional MCAI was down 4.8 percent over the month.
  • The Conforming MCAI increased 0.1 percent month-over-month.

Total MCAI

Wednesday, Jan. 6:

Mortgage Bankers Association’s Weekly Applications Survey:

  • Mortgage applications decreased 27 percent (seasonally adjusted) from two weeks earlier for the week ending Jan. 1, 2016.
  • On an unadjusted basis, applications decreased 50 percent.
  • The refinance index decreased 37 percent from two weeks ago. Real Estate Nowcast for December 2015:

  • Existing home sales for December will fall between 4.8 and 5.11 million annual sales.
  • This is up 4.1 percent from November.
  • This also represents a 3.8 percent year-over-year decline.

Tuesday, Jan. 5:

CoreLogic’s Home Price Index report for November 2015:

  • Colorado, Hawaii, Nebraska, New York, Montana, Tennessee, Texas and Wyoming reached new price highs in November 2015.
  • Home prices were up 6.3 percent year-over-year.
  • CoreLogic forecasts that home prices will increase by 5.4 percent by November 2016.


Yardi Matrix’s December 2015 apartment trends report:

  • Rents were up 6.4 percent year-over-year in December 2015.
  • This is significantly higher than the 2.8 percent long-term average.
  • Average rent nationwide remained at $1,165; this is $1 less than the peak in September and October 2015.


Monday, Jan. 4:

U.S. Census Bureau’s November 2015 construction spending report:

  • Construction spending was at a seasonally adjusted rate of $1,122.5 billion.
  • This is 0.4 percent below the revised October 2015 estimate.
  • It’s also 10.5 percent above the November 2014 estimate.

Black Knight Financial Services’ October 2015 home price index:

  • The home price index for October 2015 was $254,000.
  • New York, Tennessee and Texas hit new peaks in October.
  • Connecticut saw the most negative monthly movement.