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- New single-family home sales were at a seasonally adjusted rate of 511,000.
- This is 1.5 percent below the revised February 2016 rate, but 5.4 percent above the March 2015 estimate.
- The median sales price was $288,000, and supply is at 5.8 months’ of inventory.
- The home price index for February 2016 was $254,000.
- This is up 27.5 percent from the market’s bottom.
- However, it’s 5 percent lower than the June 2006 peak of $267,000.
Home equity rates:
Last week’s most recent market news:
- The national delinquency rate fell 8 percent in March to 4.08 percent.
- The rate of 30-day delinquencies is at lowest level in over 15 years.
- Foreclosure starts were down 14 percent from February.
- First-time homebuyers accounted for 37.8 percent of home purchases during March, based on a three-month moving average, up from 36.7 percent in February.
- The current homeowner share of purchases fell to 46.0 percent in March from 46.5 percent the previous month.
- The average time on market for non-distressed properties in March was 9.8 weeks, and the average home price on non-distressed properties was $292,200.
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