Daily market update: Sept. 30, 2015

CoreLogic’s cash sales blog post:

• Cash sales comprised 31.3 percent of total home sales in June 2015, down from 33.9 percent year-over-year.
• Cash shares fell by 0.7 percentage points in June 2015 compared with May 2015.
• Prior to the great recession, cash sales share of total home sales averaged about 25 percent.

Realtor.com’s advance read on market trends and hotness index:

• The national median list price is $230,000, down 1 percent over August 2015 and up 6 percent year-over-year.
• The median age of inventory is now 80 days, up 6.7 percent from August 2015 but down 5 percent year-over-year.
• Eleven California cities appear on the list of the 20 hottest markets in the U.S.

S&P/Case-Shiller July 2015 Home Price Index:

• The index rose 4.7 percent year-over-year in July 2015.
• The national index rose 0.7 percent month-over-month in July.
• San Francisco, Denver and Dallas reported the highest year-over-year gains with 10.4 percent, 10.3 percent and 8.7 percent price increases, respectively.

Auction.com’s September 2015 Real Estate Nowcast:

• Existing home sales are up 1.7 percent from August 2015 and 5.9 percent from September 2014.
• Sales prices for existing homes will fall between $216,372 and $239,148 in September, with a targeted price of $227.760.
• This represents an 8.9 percent year-over-year increase.

Federal Housing Finance Agency’s August 2015 average interest rates:

• Interest rates on conventional mortgages decreased from July to August.
• The average interest rate on all mortgage loans was 3.99 percent, down from 4.01 percent in July.
• The average interest rate on conventional 30-year fixed-rate mortgages of $417,000 or less was 4.20 percent, unchanged from July.

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