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Daily market update: April 20, 2016

Mortgage rates plus all the latest daily real estate market news

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

National Association of Realtors Existing-Home Sales for March 2016:

  • Total existing-home sales were up 5.1 percent (seasonally adjusted) month-over-month.
  • Sales are up 1.5 percent year-over-year.
  • The median existing-home price for March was $222,700, up 5.7 percent year-over-year.

March EHS Infographic

Architecture Billings Index (ABI) for March 2016:

  • The March ABI score was 51.9, up from 50.3 in February.
  • The new projects inquiry index was 58.1, down from 59.5 in February.
  • Regional averages for the following regions were: South (52.4), Northeast (51.0), West (50.4), Midwest (49.8)

Mortgage Bankers Association’s Weekly Applications Survey:

  • Mortgage applications increased 1.3 percent week-over-week (adjusted).
  • The refinance share of mortgage activity increased to 55.4 percent of total applications from 54.9 percent.
  • The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($417,000 or less) increased to 3.83 percent from 3.82 percent.

Mortgage rates:

 

Home equity rates:

Yesterday’s most recent market news:

U.S. Census Bureau/U.S. Department of Housing and Urban Development New Residential Construction for March 2016:

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  • Privately-owned housing units authorized by building permits in March were at a seasonally adjusted annual rate of 1,086,000, down 7.7 percent month-over-month but up 4.6 percent year-over-year.
  • Privately-owned housing starts in March were at a seasonally adjusted annual rate of 1,089,000, down 8.8 percent month-over-month but up 14.2 percent year-over-year.
  • Privately-owned housing completions in March were at a seasonally adjusted annual rate of 1,061,000, up 3.5 percent month-over-month and up 31.6 percent year-over-year.

CoreLogic’s Market Pulse Report for April 2016:

  • The cash sales share of all home sales from December 2015 through February 2016 was 34 percent.
  • Completed foreclosures were down 10 percent year-over-year.
  • Home prices were up 6.8 percent year-over-year.

report_highlights_mktpulse_1604_01

Email market reports to press@inman.com.