Check Inman every day for the daily version of this market roundup.
Friday, September 4, 2015
- Available homes for sale in Denver were reported at 7,587 at the end of August, a 1.6 percent increase in inventory month-over-month.
- 6,416 new listings came on the market in August, while 5,383 homes were placed under contract and 5,088 homes closed.
- Sold listings decreased 15 percent and total sales volume dropped 15 percent to $1.86 billion from July.
- Pending sales outpaced the number of new listings added to inventory for the fifth month this year with a reported 10,603 mutually accepted transactions and 9,921 new listings.
- Total inventory dipped at the end of August with 20,749 total active listings in the MLS database, which is a slight drop from 21,069 in July and a 23.3 percent decline from a year ago.
- When considering supply, or months of inventory, August saw a slight uptick over July from 2.24 months to 2.38 months of inventory.
Thursday, September 3, 2015
- The 30-year fixed-rate mortgage increased slightly over last week’s 3.84 percent to 3.89 percent, which is a slight decrease over last year’s 4.10 percent.
- The 15-year fixed-rate mortgage was reported at 3.09 percent, up slightly from 3.06 percent last week and down from last year’s 3.24 percent.
- The five-year adjustable rate mortgage averaged 2.93 percent this week, up from 2.9 percent last week and down slightly from 2.97 percent last year.
- The negative equity rate in the U.S. dropped below 15 percent in the second quarter of 2015.
- Nearly 20 percent of condo owners were underwater, most notably in cities such as Chicago, Orlando and Las Vegas.
- 7.4 million homeowners were underwater at the end of the second quarter of 2015, down from when figures were at their worst at 15 million.
- 43 percent of U.S. homes and condos, or an estimated market value of $6.6 trillion in property, are in counties with a high risk or very high risk for at least one type of natural disaster.
- California, Florida, New York, New Jersey and North Carolina have the most homes in high to very high risk counties for overall natural disasters.
- The 10-year home price growth is stronger in areas of low natural disaster risk, but home values are higher in counties with high risk.
Wednesday, September 2, 2015
- Residential construction spending increased on a monthly basis by 1.1 percent bringing it to a seasonally adjusted annual rate of $380.8 billion in July.
- Residential construction spending increased in July 2015 by 15.8 percent over July 2014.
- New residential multifamily construction decreased on a monthly basis by 2.2 percent but increased annually in July by 21.2 percent.
- The 30-year fixed mortgage rate is currently up eight basis points from last week to 3.75 percent.
- The 15-year fixed home loan is currently 2.92 percent.
- The biggest change in mortgage rates was 10 basis points in Florida bringing the current 30-year fixed rate to 3.81 percent.
Tuesday, September 1, 2015
- 2015 mortgage originations estimates have been increased to $1.45 trillion and 2016 originations to $1.3 trillion.
- 2015 is expected to be the best year yet with an increase home sales projection of 5.73 million units.
- The cash-out share rose in the second quarter of 2015 to 34 percent from 27 percent in the first quarter of the year.
- August home sales are projected to fall between seasonally adjusted annual rates of 5.46 and 5.86 million units.
- This projected rate puts August home sales 1 percent above July 2015 rates and 12.9 percent above July 2014.
- The median sales price is expected to drop to $230,666 nationwide.
- Nationwide home prices including distressed sales, increased by 6.9 percent in July 2015 on a year-over-year basis.
- Colorado, Florida, Hawaii, Nevada, New York, Oregon, South Carolina, South Dakota, Texas and Washington saw its growth match or surpass the nation’s annual price growth, which was 6.9 percent.
- Home prices nationwide increased by 1.7 percent in July 2015 over the June 2015 numbers.
- In the second quarter of 2015, both quarterly new-home starts and the number of closings increased by 11 percent over the same quarter of 2014.
- 25 percent of new-home starts were in the $1 million or higher range, causing 61 percent more people to rent now than in 2010.
- Annualized new-home starts are down by 4 percent compared to the second quarter of 2014.
Monday, August 31, 2015
- 47 percent (142 of 300 markets) achieved full pricing recovery, which is three more than what was reported in May.
- In June, 99 out of 100 markets increased their three-month averages, but for the first time in six months one market saw a decline for the metric.
- The West dominated in annual gains with all 10 markets showing improvements. The South dominated in recovery and the Midwest came in second for recovery.
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