Check Inman every day for the daily version of this market roundup.
Weekly mortgage rates:
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Friday, Sept. 25:
- The total loan delinquency rate in the U.S. was 4.85 percent, up 2.47 percent month-over-month but down 18.22 percent year-over-year.
- The total foreclosure pre-sale inventory rate was 1.37 percent, down 2.17 percent month-over-month and 23.74 percent year-over-year.
- The total foreclosure starts numbered 80,500, up 6.76 percent month-over-month but down 1.35 percent year-over-year.
- In August 2015, current homeowners accounted for 49.3 percent of purchases.
- The first-time homebuyer share in August was 36.4 percent of purchases. The investor share was 14.4 percent.
- The sales-to-list price ratio for non-distressed properties was 98.3 percent in August, a slight 0.2 percent decline from July.
Thursday, Sept. 24:
- Sales of single-family homes and condominiums in August hit an eight-year high nationally, and some cities are on pace to see their best sales numbers in a decade.
- Out of 204 metro areas surveyed, 58 are on track to reach nine-year highs in home sales this year, and another 22 cities are poised to reach 10-year highs.
- All-cash sales accounted for 24.5 percent of all single family home and condo sales in August, up from a seven-year low of 23.6 percent in July, but still down from 26.7 percent of all sales in August 2014.
- San Francisco buyers have averaged 20+ percent down over the last 14 years (loan-to-value ratios 67 percent to 82 percent), while Detroit has averaged loan-to-value ratios between 86 percent and 101 percent.
- Scottsdale, Arizona, average home prices are 20 percent below all-time highs.
- At the height of the housing crisis in Apache Junction, Arizona, homes lost more than half their value.
- New single-family homes in August were sold at a seasonally adjusted annual rate of 552,000.
- This is 5.7 percent above the revised July rate and 21.6 percent above the August 2014 estimate.
- The median sales price for new homes in August 2015 was $292,700, and the average sales price was $353,400.
Wednesday, Sept. 23:
- Mortgage applications increased 13.9 percent from one week earlier during the week ending Sept. 18, 2015.
- The refinance share of mortgage activity increased to 58.4 percent of total applications from 56.2 percent the week prior.
- The FHA share of total applications decreased to 12.9 percent from 14.2 percent the previous week.
- The national MiMi is 81, an improvement of 0.93 percent from June 2015 to July 2015.
- Twenty-nine of the 50 states, plus Washington, D.C., have MiMi values in a stable range.
- Forty-six of the 100 metro areas measured have MiMi values in a stable range.
Tuesday, Sept. 22: Federal Housing Finance Agency’s July 2015 House Price Index report:
- Home prices in July were up 0.6 percent month-over-month.
- Year-over-year, July home prices were up 5.8 percent.
- The overall index is 1.1 percent below the March 2006 peak, at roughly the same level as the November 2006 index.
- The U.S. housing market is leveling off. It’s appreciating 3.3 percent from a year ago to a Zillow Home Value Index of $180,800.
- Before the 2008 crash, 21.2 percent of homes (on average) were decreasing in value. Today’s percentage of average homes decreasing in value: 27.9 percent.
- In Baltimore, 48.1 percent of homes decreased in value during the past year.
Monday, Sept. 21:
- Existing-home sales fell in August 2015 by 4.8 percent.
- Sales have risen year-over-year and are 6.2 percent above a year ago.
- The median existing-home price for all housing types in August was $228,700.
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