Here’s what happened this week in the real estate market.

Check Inman every day for the daily version of this market roundup.

Weekly mortgage rates:

Powered by MortgageCalculator.org

Powered by MortgageCalculator.org

Thursday, Oct. 1:

RealtyTrac’s “Why Homes Are More Affordable With Home Prices Higher” report:

  • Home prices in the first quarter of the year hit their most affordable level in two years.
  • The average interest rate on a 30-year fixed rate mortgage dropped 57 basis points, or 13 percent from the first quarter of 2014 to the first quarter of 2015.
  • The drop in interest rates — along with wage growth outpacing home price appreciation in 32 percent of counties — meant buying a home in the first quarter required a smaller share of the average wage compared to a year ago.

image007

U.S. Census Bureau’s August 2015 construction report:

  • Construction spending during August was estimated at a seasonally adjusted annual rate of $1.09 trillion.
  • This is a 13.7 percent increase over August 2014’s estimate of $955 billion.
  • From January 2015 to August 2015, construction spending comprised $683.4 billion.

Freddie Mac’s Primary Mortgage Market Survey:

  • The rate for 30-year fixed-rate mortgages was 3.85 percent.
  • The rate for 15-year fixed-rate mortgages was 3.07 percent.
  • The rate for five-year Treasury-indexed hybrid adjustable-rate mortgages was 2.91 percent.

pmms_chart

Wednesday, Sept. 30:

Freddie Mac’s September 2015 Insights & Outlook:

  • Home sales this year are expected to be the highest since 2007.
  • Low mortgage rates and the decline in unemployment is boosting demand for homes.
  • Freddie Mac has increased its estimate of 2015 mortgage originations to $1.53 trillion and 2016 originations to $1.40 trillion.

Tuesday, Sept. 29:

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.

unnamed

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.

realtordotcom-september-look

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.

image001

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.

auction-nowcast

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.

fhfa-mortgage-values

Monday, Sept. 28:

The Federal Housing Finance Agency’s second-quarter Foreclosure Prevention Report:

  • Fannie Mae and Freddie Mac completed 63,593 foreclosure prevention actions in the second quarter (Q2) of 2015.
  • The real estate-owned inventory for both government-sponsored enterprises declined 14 percent during Q2.
  • The number of 60-plus-day delinquent loans declined 6 percent during Q2.

NAR’s August Pending Home Sales:

  • Pending home sales decreased 1.4 percent to 109.4 in August 2015 from July 2015.
  • Pending home sales are still up 6.1 percent year-over-year.
  • The national median existing-home price is expected to increase 5.8 percent in 2015 to $220,300.

Black Knight July 2015 Home Price Index Report:

  • U.S. home prices were up 0.4 percent month-over-month in July 2015.
  • They were up 5.3 percent year-over year.
  • This is 5.5 percent below the June 2006 market peak.

BKFS_HPI_Jul2015_US_hi_res

Email market updates to press@inman.com.

Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
Success!
Thank you for subscribing to Morning Headlines.
Back to top
New sessions have been added to Connect Now Agenda on October 20th! Check out the power-packed lineup. SEE THE AGENDA×