Check Inman every day for the daily version of this market roundup.
Home equity rates:
Friday, May 20:
- Total existing-home sales were up 1.7 percent month-over-month and 6.0 percent year-over-year.
- The median existing-home price for all housing types in April was $232,500, up 6.3 percent from April 2015 ($218,700).
- Total housing inventory at the end of April increased 9.2 percent to 2.14 million existing homes available for sale, down 3.6 percent year-over-year (2.22 million).
Wednesday, May 18:
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- The market for existing-home sales is underperforming its potential by 4.1 percent or an estimated 232,000 seasonally adjusted, annualized rate (SAAR) of sales.
- In April, the market potential for existing-home sales grew by 2.2 percent compared to March, an increase of 122,000 (SAAR) sales, and grew by 1.5 percent year-over-year.
- This month, the seasonally adjusted, annualized rate of potential existing-home sales is 5.63 million.
- Mortgage applications were down 1.6 percent week-over-week.
- The refinance share of mortgage activity increased to 54.7 percent of total applications from 52.8 percent the previous week.
- The average contract interest rate for 30-year fixed-rate mortgages was 3.82 percent, unchanged from last week.
Tuesday, May 17:
- April 2016 sales were up 7.5 percent over March and 3.2 percent over April 2015.
- The median sales price in April 2016 was $215,000.
- April’s inventory was 15.2 percent lower year-over-year; the national month’s supply of inventory in April was 3.2, down from 3.7 in March.
- Privately-owned housing units authorized by building permits in April were at a seasonally adjusted annual rate of 1,116,000, 3.6 percent above the revised March rate of 1,077,000, but 5.3 percent below the April 2015 estimate of 1,178,000.
- Privately-owned housing starts in April were at a seasonally adjusted annual rate of 1,172,000, 6.6 percent above the revised March estimate of 1,099,000, but 1.7 percent below the April 2015 rate of 1,192,000.
- Privately-owned housing completions in April were at a seasonally adjusted annual rate of 933,000, 11.0 percent below the revised March estimate of 1,048,000 and 7.4 percent below the April 2015 rate of 1,008,000.
Monday, May 16:
- Builder confidence in the market for newly-built single-family homes remained unchanged in May at a level of 58 on the HMI.
- Builder confidence has been at 58 for four months straight.
- The HMI components measuring sales expectations in the next six months increased three points to 65, while the component charting current sales conditions and the index gauging buyer traffic both held steady at 63 and 44, respectively.
- Home prices are up 1.0 percent in March 2016 from February 2016.
- Year-over-year basis, prices are up 5.7 percent from a year ago.
- Throughout the first quarter, home prices were up 0.4 percent from the previous quarter.
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