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Daily market update: May 9, 2016

Mortgage rates plus all the latest daily real estate market news

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

National Association of Realtors Metropolitan Home Prices for the first quarter of 2016:

  • The median existing single-family home price increased in 87 percent of measured markets, 154 out of 178 metropolitan statistical areas.
  • 24 areas (13 percent) recorded lower median prices than one year before.
  • There were more rising markets in Q1 2016 than in Q4 2015, when 81 percent of measured markets saw price gains.

Fannie Mae’s Home Purchase Sentiment Index (HPSI) for April 2016:

  • The HPSI increased 3.5 points to 83.7 in April.
  • The net share of consumers who think now is a good time to sell a home rose 16 percentage points.
  • However, the “good time to buy” component dipped to an all-time survey low, creating the narrowest gap on record between these two measures.

hpsi-050916

May preliminary Money Anxiety Index:

  • The May preliminary Money Anxiety Index is at 64.0.
  • This indicates no change over April.
  • In the first quarter of this year, the index increased 1.2 points

money-anxiety-index

Mortgage rates:

 

Home equity rates:

Last week’s most recent market news:

First American Homeownership Progress Index for 2015:

  • The 2015 index declined 1.8 percent year-over-year.
  • The index is down 7.6 percent from the peak in 2005.
  • Currently, the index is 0.4 percent above the 25-year low point that was set in 1995.

Mortgage Bankers Association’s Mortgage Credit Availability Index (MCAI) for April 2016:

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  • The MCAI decreased 0.89 percent to 122.4 in April 2016.
  • This indicates that credit standards are tightening.

mcai-april-2016
Email market reports to press@inman.com.