Real estate market recap, Aug. 3-7

Bankrate’s homeownership survey showed:

• Homeowners who shopped around for mortgages and settlement services saw closing costs drop as much as 7 percent.
• Buyers in Hawaii paid $2,163 in closing fees. Buyers in Ohio had the lowest closing costs, paying only $1,613.
• Nationwide, the average origination fee declined 22 percent to $1,041, and the average third-party fee rose 22 percent to $807.

Black Knight Financial Services nonmortgage debt survey showed:

• Mortgage holders are carrying an average of $25,000 nonmortgage debt per borrower.
• Nonmortgage debt is worth watching, as it has a direct impact on the lending and housing industries.
• Auto-related debt is cited as the primary driver of nonmortgage debt increases, accounting for 81 percent; student loan debt is also at an all-time high.

Realtor.com’s advance read of July trends showed:

• The national median list price in July 2015 is up 7 percent year over year and 1 percent over the previous month.
• Median days on market increased to 69 days, down 7 percent year over year, but up 5 percent month over month.
• California is home to a majority of the top 20 hottest cities, with 11 major metropolitan areas reporting tight supply and economic-powered growth in demand.

Fannie Mae’s National Housing Survey showed:

• Many borrowers have a “negative perception gap” that’s suppressing housing and mortgage market activity.
• At the end of last year, 37 percent of homeowners perceived that they had more than 20 percent home equity, but CoreLogic estimated that 69 percent actually had significant equity.
• The appreciation gap presents an opportunity to remove a barrier to continued recovery in the housing and mortgage markets.

CoreLogic’s June 2015 home price index showed:

• Home prices rose by 1.7 percent month over month in June, according to CoreLogic.
• Prices rose year over year by 6.5 percent.
• Fifteen states and the District of Columbia reached new price peaks in June.

RealtyTrac’s foreclosure report showed:

• Flipping hit a peak in early 2006, when 8 percent of all single-family home sales were flips.
• Last quarter, 30,013 single-family homes were flipped, accounting for only 4.5 percent of all single-family homes sold.
• The most profitable areas for flipping were in Jacksonville, Florida; Dayton, Ohio; Baltimore; St. Louis; and Memphis, according to RealtyTrac’s report.

John Burns Real Estate Consulting single-family rental study showed:

• Last year, roughly 25,000 single-family detached homes were built and operated as rentals.
• Spanning the next several years, a significantly larger volume of single-family rentals will be built.
• The competition between single-family rental homes and the detached resale/new-home market has created the need for new single-family rental homes.

Endeavor America Home Loan Services millennial homebuyer survey showed:

• Down payments remain a struggle for millennial real estate clients.
• On average, millennials contributed a down payment of 4.6 percent when purchasing a home during 2014 and early 2015.
• More than 41 percent of respondents used a co-borrower to qualify for home financing.

NAR’s Profile of Real Estate Firms showed:

• 69 percent of residential real estate firms expect an increase in net income next year.
• 45 percent of firms expect increased competition from nontraditional participants.
• The millennial generation’s inability/ability to buy a home in the next two years was a concern among 54 percent of respondents.

Fannie Mae’s national housing survey showed:

• The number of consumers who believe now is a good time to sell a home fell to 45 percent in July.
• Those who believe it is a good time to buy dropped to 61 percent — an all-time survey low.
• The survey found that more consumers expect home prices and rents to increase in the next 12 months.

Email market updates to press@inman.com.