Markets & Economy

Daily market update: October 21, 2016

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First American Financial Corporation Q3 2016 Real Estate Sentiment Index:

  • Title agent market production increased 7.6 percent this past quarter as compared with a year ago.
  • Title agents are forecasting residential price growth of 5 percent for the year ahead.
  • Title agents surveyed remain optimistic about transaction volumes, with a 7.2 percent increase in optimism over a year ago.

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

  • The three-month average for non-distressed properties dropped to $302,600 in September from $310,100 in August.
  • The three-month moving average sales-to-list-price ratio was 98.0 percent in September, down from 98.6 percent in August.
  • The first-time homebuyer share of purchases in September was 34.8 percent.

Mortgage rates:

 

Home equity rates:

Most recent market news:

National Association of Realtors’ Existing-Home Sales Data for September 2016:

  • Existing-home sales were up 3.2 percent in September month-over-month.
  • This was propelled by a 34-percent share of first-time buyers.
  • The median existing-home price for all housing types in September was $234,200.

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