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- The RHPI was unchanged in March 2016 from February 2016.
- The RHPI decreased 2.1 percent year-over-year.
- The five states with the highest year-over-year increase in the RHPI are North Dakota (16.0 percent), Wyoming (14.7 percent), Rhode Island (12.2 percent), Delaware (6.0 percent) and Missouri (5.6 percent).
- The MiMi is at 83.8, up 1.00 percent month-over-month.
- The quarterly MiMi is up 1.56 percent.
- Year-over-year, the MiMi is up 7.23 percent.
- Mortgage applications increased 2.3 percent from one week earlier (adjusted).
- The refinance share of mortgage activity decreased to 53.7 percent of applications from 54.6 percent the previous week.
- The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($417,000 or less) increased to 3.85 percent from 3.82 percent.
- Home prices rose in every state between the first quarter of 2015 and the first quarter of 2016.
- The top five states in annual appreciation were Oregon (11.8 percent), Florida (11.2 percent), Washington (10.9 percent), Nevada (9.4 percent) and Colorado (9.0 percent.)
- Annual price increases were greatest in the metro area of West Palm Beach-Boca Raton-Delray Beach, Florida, where prices increased by 16.7 percent. Prices were weakest in El Paso, Texas, where they fell 2.8 percent.
Home equity rates:
Yesterday’s most recent market news:
- 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.
- 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.
- 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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