Markets & Economy

Daily market update: September 27, 2016

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ProTeck’s Home Value Forecast for August 2016:

  • In July, nearly 70 percent of the core-based statistical areas (CSBAs) tracked were listed as “normal” or above.
  • In August, that number rose to more than 76 percent.
  • Only 1.4 percent of CBSAs tracked came in at “weak” or “distressed” in August.

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S&P/CoreLogic/Case-Shiller Home Price Indices for July 2016:

  • There was a 5.1 percent annual gain in July.
  • This is higher than the June 2016 gain of 5.0 percent.
  • The 20-City Composite reported year-over-year gains of 5.0 percent, down from June’s 5.1 percent.

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Mortgage rates:

 

Home equity rates:

Most recent market news:

U.S. Census Bureau/U.S. Department of Housing & Urban Development New Residential Sales Data for August 2016:

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  • Sales of new single-family houses were at a seasonally adjusted rate of 609,000.
  • This is 7.6 percent below the revised July rate of 659,000 but 20.6 percent above the August 2015 estimate: 505,000.
  • The median sales price of new houses sold in August 2016 was $284,000; the average sales price was $353,600.

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

  • The RHPI decreased 2.1 percent month-over-month in July 2016.
  • This is also a 4.8 percent decrease from July 2015.
  • The four states with the highest year-over-year increases in the RHPI are: Wyoming (+2.5 percent), Michigan (+1.4 percent), Oregon (+0.3 percent) and Nevada (+0.1 percent).

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Black Knight Financial Services July 2016 Home Price Index:

  • The HPI in July 2016 was $266,000.
  • This represents a 0.4 percent increase from last month.
  • One year ago, the HPI was 5.3 percent.

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