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Daily market update: April 25, 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.

U.S. Department of Housing and Urban Development/U.S. Census Bureau’s March 2016 New Residential Sales:

  • 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.

Black Knight February 2016 Home Price Index:

  • 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.

BKFS_HPI_Feb2016_US_hi_res

Mortgage rates:

 

Home equity rates:

Last week’s most recent market news:

Black Knight Financial Services’ “First Look” at March 2016 mortgage data:

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  • 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.

black-knight-march-2016

Campbell/Inside Mortgage Finance Housing Pulse Survey for March 2016:

  • 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. 

Email market reports to press@inman.com.