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- Title agent expectations for growth in purchase and refinance transactions across all property types in the year ahead are 17.3 percent more positive year-over-year.
- Quarter over quarter, title agents’ confidence in purchase market growth increased 12.9 percent and 23.2 percent for refinance transactions.
- Title agents are now predicting 4.0 percent real estate price growth over the next 12 months, a slight drop from the Q1 prediction of 4.6 percent annualized price growth.
- First-time buyer volume increased 15 percent year-over-year.
- First-time buyers accounted for 59.1 percent of primary owner-occupied home purchase mortgages with a government guarantee.
- The combined first-time buyer mortgage share index was 53.2 percent, up from 52.9 percent in May 2015.
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- Privately-owned housing units authorized by building permits in May were at a seasonally adjusted annual rate of 1,138,000. This is 0.7 percent above the revised April rate of 1,130,000, but is 10.1 percent below the May 2015 estimate of 1,266,000.
- Privately-owned housing starts in May were at a seasonally adjusted annual rate of 1,164,000. This is 0.3 percent below the revised April estimate of 1,167,000, but is 9.5 percent above the May 2015 rate of 1,063,000.
- Privately-owned housing completions in May were at a seasonally adjusted annual rate of 988,000. This is 5.1 percent above the revised April estimate of 940,000, but is 3.5 percent below the May 2015 rate of 1,024,000.
- The 12-month rolling total of starts grew 11.8 percent year-over-year in May to 1,154,800 starts, slightly up from April.
- This represents the most starts in a 12-month period since August 2007.
- Housing starts continue to be a bright spot in an otherwise supply constrained market, and the 12-month rolling total inches up to 80 percent of the 50-year average of 1,443,060 starts.
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