Markets & Economy

Daily market update: August 23, 2016

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

U.S. Census Bureau/U.S. Department of Housing & Urban Development’s New Residential Sales for July 2016:

  • Sales of new single-family houses in July 2016 were at a seasonally adjusted annual rate of 654,000.
  • This is 12.4 percent above the revised June rate (582,000).
  • It’s also 31.3 percent above the July 2016 estimate (498,000).

Berkshire Hathaway HomeServices’ Homeowner Sentiment Survey:

  • The percentage of existing homeowners who view the U.S. real estate market favorably jumped to 66 percent.
  • Millennials are the most optimistic, with 76 percent of millennial respondents viewing housing favorably.
  • The biggest challenge for Gen-Xers who are searching for a home is saving money for the purchase, according to the survey.

CoreLogic’s MarketPulse for August 2016:

  • Completed foreclosures were down 4.9 percent year-over-year.
  • Home prices were up 5.7 percent year-over-year.
  • The company estimates that dollar volume for mortgage origination increased 30 percent from 2014 to 2015.

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Mortgage rates:

 

Home equity rates:

Most recent market news:

Black Knight Financial Services’ ‘First Look’ at July 2016 mortgage data:

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  • The total U.S. loan delinquency rate (loans 30 or more days past due, but not in foreclosure) was 4.51 percent in July 2016.
  • This is 4.78 percent higher than June 2016.
  • However, it’s 3.38 percent lower than July 2015.

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First American Financial Corporation’s Potential Home Sales Model for July 2016:

  • According to First American’s model, the market for existing-home sales is underperforming its potential by 1.3 percent or an estimated 92,000 seasonally adjusted, annualized rate (SAAR) of sales.
  • This is an improvement over last month’s revised under-performance gap of 1.8 percent, or 104,000 (SAAR) sales.
  • This month, potential existing-home sales increased to 5.71 million (SAAR).

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