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Daily market update: May 24, 2016

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

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

  • Sales of new single-family houses in April 2016 were at a seasonally adjusted annual rate of 619,000.
  • This is up 16.6 percent month-over-month and up 23.8 percent year-over-year.
  • The median sales price of new houses sold in April 2016 was $321,100; the average sales price was $379,800.

CoreLogic’s MarketPulse Report for May 2016:

  • In March 2016, the ratio of flipped homes to all home sales was 4.4 percent.
  • Completed foreclosures were down 14.9 percent year-over-year.
  • Home prices were up 6.7 percent year-over-year.

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

  • The total foreclosure pre-sale inventory rate is 1.17 percent, 5.87 percent lower than March 2016 and 27.76 percent lower than April 2015.
  • The total foreclosure starts in April were 58,700, down 19.37 percent month-over-month and 16.62 percent year-over-year.
  • The number of properties 30 or more days past due but not in foreclosure totaled 2,146,000, up 84,000 month-over-month but down 179,000 year-over-year.

 

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Mortgage rates:

 

Home equity rates:

Yesterday’s most recent market news:

Campbell/Inside Mortgage Finance HousingPulse Tracking Survey for April 2016:

  • First-time homebuyers accounted for 38.9 percent of home purchases in April 2016, up from 38.1 percent in March 2016 and 37.2 percent in April 2015.
  • Current homeowners accounted for 45.7 percent of home purchases in April, and investors had a 15.4 percent share.
  • Move-in ready real estate owned properties received an average of 2.4 offers in April, and non-distressed properties received an average of 2.2 offers during the month.

Email market reports to press@inman.com.