Markets & Economy

Daily market update: November 22, 2016

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

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

  • Non-distressed properties sold during October had an average price of $297,300, based on a three-month moving average.
  • This is an 1.8 percent decline from the previous month and a 4.1 percent decline from the average price of $310,000 in August.
  • Prices in October were up by 3.4 percent year-over-year.

National Association of Realtors Existing-Home Sales for October 2016:

  • Total existing-home sales were at a seasonally adjusted annual rate of 5.60 million in October.
  • This is a 2.0 percent month-over-month increase from the upwardly revised rate of 5.49 million in September.
  • A year ago in October, the sales pace was 5.29 million.

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Mortgage rates:

 

Home equity rates:

Most recent market news:

First American October 2016 Potential Home Sales:

  • Potential existing-home sales increased to a 5.9 million seasonally adjusted, annualized rate (SAAR).
  • This represents a 97.4 percent increase from the market potential low point reached in December 2008.
  • In October, the market potential for existing-home sales grew by 6.7 percent compared with a year ago, an increase of 376,000 (SAAR) sales.

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Email market reports to press@inman.com.