Markets & Economy

Daily market update: October 18, 2016

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

Houzz Renovation Barometer for Q3 2016:

  • The barometer (which tracks industry optimism in market improvements) posted high readings for Q3 across all industry groups.
  • Architects reported a five-quarter decline in confidence in market gains.
  • Remodelers and design-build firms reported that labor shortages are driving cost increases.

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

  • Potential existing-home sales increased to a 5.8 million seasonally adjusted, annualized rate (SAAR).
  • In September, the market potential for existing-home sales grew by 6.5 percent compared with September 2015.
  • The potential existing-home sales is 351,000 (SAAR) or 6.0 percent below the pre-recession peak of market potential, which occurred in July 2005.

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Mortgage rates:

 

Home equity rates:

Most recent market news:

Re/Max’s October 2016 National Housing Report:

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  • Home sales fell 11.7 percentage points from August to September.
  • However, home sales were up 2.0 percentage points form September 2015 to September 2016.
  • The median sales price in September was $219,780, 5.1 percent above one year ago.

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Email market reports to press@inman.com.