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Daily market update: Oct. 23, 2015

Our daily summary of market news, updated regularly with new tidbits

We’ll add more market news briefs throughout the day. Check back to read the latest.

CoreLogic’s July 2015 cash sale shares:

  • Cash sales comprised 30.8 percent of total home sales in July 2015, down from 34.2 percent in July 2014.
  • Month-over-month, the share of cash sales fell by 0.5 percentage points.
  • Prior to the housing crisis, the cash sales share of total home sales was about 25 percent; CoreLogic estimates if the share continues to fall, it should hit 25 percent by mid-2017.

 

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Black Knight Financial Services’ “first look” at September 2015 mortgage data:

  • The mortgage delinquency rate was up 1.7 percent month-over-month in September 2015.
  • Overall non-current inventory (with loans 30 or more days past due or in foreclosure) is 3.2 million.
  • Foreclosure and 90-day delinquent inventories continue to improve despite rise in delinquency rate.

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Campbell/Inside Mortgage Finance HousingPulse Tracking Survey:

  • Prices on non-distressed properties hit $296,700 in September 2015.
  • Prices on non-distressed properties were up 8.6 percent year-over-year in September.
  • The average sale-to-list price ratio for non-distressed properties was 97.8 percent in September, up from 97.5 percent in September 2014.

Mortgage rates:

Home equity rates:

Yesterday’s most recent market news:

First American’s Existing-Home Sales Capacity (EHS-C) for September 2015:

  • The EHS-C rate decreased by 0.1 percent month-over-month in September 2015 and 3.6 percent year-over-year.
  • The seasonally adjusted annualized rate of existing-home sales capacity is up 77.1 percent from February 2009, the lowest point recorded by First American.
  • Existing-home sales spiked in July, dropped in August and rebounded in September.

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The National Association of Realtors’ existing-home sales report for September 2015:

  • Total existing-home sales increased 4.7 percent month-over-month in September 2015.
  • The median existing-home price increased 6.1 percent year-over-year.
  • Total housing inventory decreased 2.6 percent month-over-month and 3.1 percent year-over-year.
September EHS Infographic

NAR’s September existing-home sales infographic.

Freddie Mac’s Primary Mortgage Market Survey:

  • 30-year fixed-rate mortgages (FRMs) averaged 3.79 percent with an average 0.6 point for the week ending October 22, 2015; this is down from 3.82 percent the previous week and 3.92 percent the previous year.
  • 15-year FRMs averaged 2.98 percent with an average 0.5 point, down from 3.03 percent the previous week and 3.08 percent the previous year.
  • 5-year Treasury-indexed hybrid adjustable-rate mortgages averaged 2.89 percent with an average 0.4 point, up from 2.88 percent the previous week and down from 2.91 percent the previous year.

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Federal Housing Finance Agency’s August 2015 House Price Index:

  • Prices for homes rose 0.3 percent month-over-month in August 2015.
  • Home prices in August 2015 were up 5.5 percent year-over-year.
  • The index is roughly the same as its December 2006 level.

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Realtytrac U.S. Home Equity & Underwater report for Q3:

  • The number of seriously underwater homeowners dropped significantly in the third quarter of 2015 due to rising home sales volumes and prices.
  • The number of equity rich homeowners went down, at the same time, as more homeowners leveraged their equity and refinanced, traded up or cashed out completely.
  • Only one in three properties in foreclosure was seriously underwater, the lowest level since RealtyTrac began tracking in the Q1 2012 and down from a peak of 62 percent underwater in the second quarter of 2012.

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HOPE NOW’s August 2015 foreclosure sales report:

  • Foreclosure activity is at its lowest level since 2007, when the organization began collecting data.
  • Foreclosure sales decreased 7 percent month-over-month in August 2015.
  • Foreclosure sales decreased 23 percent year-over-year in August 2015.

 

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The Houzz third-quarter renovation index:

  • Landscape specialty firms have reported a quarterly activity decrease of 21 percent.
  • General contractors, remodelers and design-build firms are in the shortest supply.
  • Year-over-year gains continue across all industry groups, though.

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