Markets & Economy

Daily market update: December 19, 2016

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First American Financial Services Potential Home Sales Model for November 2016:

  • Potential existing-home sales increased to a 6.1 million seasonally adjusted annualized rate (SAAR).
  • This was 4.0 percent above November 2015.
  • Currently, potential existing-home sales is 98,000 (SAAR) or 1.6 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:

U.S. Census Bureau/U.S. Department of Housing and Urban Development New Residential Construction for November 2016:

  • Privately-owned housing units authorized by building permits in November were at a seasonally adjusted annual rate of 1,201,000, 4.7 percent below the revised October rate of 1,260,000 and 6.6 percent below the November 2015 estimate of 1,286,000.
  • Privately-owned housing starts in November were at a seasonally adjusted annual rate of 1,090,000, 18.7 percent below the revised October estimate of 1,340,000 and 6.9 percent below the November 2015 rate of 1,171,000.
  • Privately-owned housing completions in November were at a seasonally adjusted annual rate of 1,216,000, 15.4 percent above the revised October estimate of 1,054,000 and 25.0 percent above the November 2015 rate of 973,000.

CoreLogic’s Market Pulse Report for December 2016:

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  • The home price index (HPI) in October 2016 was up 6.7 percent year-over-year.
  • The Q3 negative equity share was 6.3 percent.
  • The cash sales share as of August 2016 was 31.1 percent.

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