Markets & Economy

Daily market update: October 24, 2016

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

Ten-X’s “Hottest” Single-Family Markets for Fall 2016:

  • The top five housing markets ranked according to current and forecasted housing fundamentals were Fort Lauderdale, Palm Beach County, Tampa and Orlando in Florida as well as Las Vegas.
  • Fort Lauderdale overtook Palm Beach County as the hottest market.
  • Phoenix, Seattle, Nashville, Dallas and Jacksonville ranked nos. 6 through 10.

Mortgage rates:

 

Home equity rates:

Most recent market news:

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.

Email market reports to press@inman.com.

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