Here’s what happened this week in the real estate market:
Check Inman every day for the daily version of this market roundup.
Thursday, Aug. 27, 2015
- 30-year fixed-rate mortgages averaged 3.84 percent with an average 0.6 point for the week ending Aug. 27, 2015, down from 3.93 percent last week.
- 15-year fixed-rate mortgages averaged 3.06 percent with an average 0.6 point for the week ending Aug. 27, 2015, down from 3.15 percent last week.
- Five-year Treasury-indexed hybrid adjustable-rate mortgages averaged 2.9 percent with an average 0.4 point for the week ending Aug. 27, 2015, down from 2.94 percent last week.
- The index value for pending home sales was 110.948, which represents a 0.5 percent increase month over month.
- Last month’s index was up from the 110.369 index value in June.
- The pending home sale index peaked at 112.3 in May 2015.
Wednesday, Aug. 26, 2015
- The national MiMi shows an improvement of 1.3 percent from May to June and a three-month improvement of approximately 2.3 percent.
- Year over year, the national MiMi value has improved by 5.4 percent.
- It is still off from its high of 121.7 at the current index of 80.3.
- Smaller markets account for the majority of top markets for real estate agents.
- One of the last recovery markets, Las Vegas appears to be on the rebound.
- Only five primary markets — Denver, Las Vegas, Nashville, Sacramento and Charlotte — were in the top 20.
- Competition in hot markets may be slowing down, according to a recent Trulia research report.
- Nationally, 63 percent of homes listed for sale on June 17 were still on the market on Aug. 17, which is up a bit from 61 percent for the same period last year.
- California continues to reign as the state with the fastest-moving markets.
Tuesday, Aug. 25, 2015
- The index climbed 4.5 percent year over year in June 2015.
- Denver (10.2 percent), San Francisco (9.5 percent) and Dallas (8.2 percent) reported the highest year-over-year gains.
- The national index jumped 1 percent month over month in June 2015.
- Austin, Texas, is the healthiest large housing market in the U.S., followed by Seattle, Washington, and Denver, Colorado.
- Cleveland, Ohio, is the least-healthy large housing market, followed by Detroit, Michigan, and Milwaukee, Wisconsin.
- Berkeley, Sunnyvale and San Mateo, California, were the markets with the lowest percentage of homes in negative equity.
- U.S. house prices rose 1.2 percent in the second quarter of 2015.
- This signifies the 16th consecutive quarterly price rise.
- The seasonally adjusted monthly index for June was up 0.2 percent from May, and house prices rose 5.4 percent year over year.
- Home values rose 3 percent year over year in July, down from 3.4 percent year-over-year growth in June.
- Denver, Dallas, San Jose and San Francisco are still experiencing double-digit home value increases.
- Rent continues to rise, up 4.2 percent year over year from July 2014.
Monday, Aug. 24, 2015
- U.S. home price index is now at $252,000, 5.8 percent off June 2006 peak of $286,000.
- This is up 26 percent from the market’s lowest price.
- Thirteen of the nation’s 40 largest metro areas hit new peaks in June.
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