Markets & Economy

Real estate market recap, March 14-18, 2016

The big news in real estate markets, recapped for your convenience

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

Mortgage rates:

Home equity rates:

Thursday, March 17:

Re/Max March 2016 National Housing Report:

  • Home sales rose 4.8 percent year-over-year.
  • The median sales price rose 5.9 percent year-over-year.
  • We currently have 4.0 months supply of inventory.


Freddie Mac’s Primary Mortgage Market Survey:

  • The 30-year fixed-rate mortgage averaged 3.73 percent with an average 0.5 point for the week ending March 17, 2016.
  • This is up from 3.68 percent last year.
  • A year ago, the 30-year fixed rate mortgage averaged 3.78 percent.

Freddie Mac's Primary Mortgage Market Survey March 17, 2016

CoreLogic’s March 2016 Market Pulse Report:

  • The home price index is up 6.9 percent year-over-year.
  • Home equity is up $6 trillion since the Great Recession.
  • Completed foreclosures are down 16.2 percent year-over-year.



Wednesday, March 16:

U.S. Census Bureau and U.S. Department of Housing and Urban Development’s New Residential Construction in February 2016:

  • Privately-owned building permits in February were at a seasonally adjusted annual rate of 1,167,000, 3.1 percent below the revised January rate but 6.3 percent above the February 2015 estimate.
  • Privately-owned housing starts in February were at a┬áseasonally adjusted annual rate of 1,178,000, 5.2 percent above January and 30.9 percent above February 2015.
  • Privately-owned housing completions in February were at 1,016,000, 4.2 percent below the revised January estimate but 17.5 percent above the February 2015 rate.

Mortgage Bankers Association’s Weekly Applications Survey:

  • The Market Composite Index (which measures loan application volume) decreased 3.3 percent week-over-week on a seasonally adjusted basis.
  • The Refinance Index decreased 6 percent week-over-week to its lowest level since August 2015.
  • The seasonally adjusted Purchase Index increased 0.3 percent to its highest level since January 2016.

Preliminary Money Anxiety Index for March 2016:

  • The preliminary March index is 62.8, the same as the final reading in February.
  • The jobs market is improving.
  • However, global economic uncertainty is contributing to anxiety.


Tuesday, March 15:

Real Trends February 2016 Housing Market Report:

  • Housing sales increased 13.9 percent year-over-year.
  • This is the strongest year-over-year increase since June 2015.
  • Housing prices rose an average of 2.3 percent year-over-year.


FNC Residential Price Index for January 2016:

  • Year-over-year growth was at a 16-month high since October 2014.
  • Sales were down 0.3 percent from December.
  • However, sales were up 6.4 percent year-over-year from December 2015.