AgentBrokerage

Daily market update: June 21, 2016

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

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

First American’s Q2 2016 Real Estate Sentiment Index:

  • 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.

May 2016 First-Time Buyer Mortgage Share/Mortgage Risk Indices from the International Center on Housing Risk:

  • 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.

first-time-buyer-share

 

Mortgage rates:

 

Home equity rates:

Most recent market news:

U.S. Census Bureau/U.S. Department of Housing and Urban Development May 2016 New Residential Construction:

3 essential tools that will 10X your real estate marketing
Smart landing pages, a synchronized database and automation generate results READ MORE
  • 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.

Trulia’s outlook for housing starts for May 2016:

  • 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.

Portable Network Graphics image

Email market reports to press@inman.com.