Markets & Economy

Daily market update: July 25, 2016

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First American’s Real House Price Index (RHPI) for May 2016:

  • Real house prices are 19 percent lower than they were in 2000.
  • The RHPI was unchanged in May 2016 from April 2016.
  • The RHPI increased 0.4 percent from May 2015 to May 2016.

Black Knight Financial Services’ May 2016 Home Price Index:

  • The home price index in May was $263,000, up 31.7 percent from market bottom and 1.8 percent below the June 2006 peak.
  • Mountain states accounted for eight of 10 top-performing metro areas.
  • All states and metros experienced positive price movement in May, and six large states and 15 large metros hit new price peaks.

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Mortgage rates:

 

Home equity rates:

Most recent market news:

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

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  • Non-distressed properties sold in June were on the market for an average of 6.8 weeks.
  • Non-distressed properties sold in June received an average of 2.3 offers.
  • First-time buyers comprised 40.2 percent of purchases in June.

Email market reports to press@inman.com.