Markets & Economy

Daily market update: December 23, 2016

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

  • Sales of new single-family houses in November 2016 were at a seasonally adjusted annual rate of 592,000.
  • This is 5.2 percent above the revised October rate of 563,000 and is 16.5 percent above the November 2015 estimate of 508,000.
  • The median sales price of new houses sold in November 2016 was $305,400; the average sales price was $359,900.

Mortgage rates:

 

Home equity rates:

Most recent market news:

Attom Data Solutions Q4 2016 Home Affordability Index:

  • The national affordability index in Q4 was 103, the lowest level since Q4 2008.
  • This is down from 108 in the previous quarter.
  • It’s also down from 116 a year ago.

affordability_index_historical

Federal Housing Finance Agency’s House Price Index for October 2016:

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  • U.S. house prices rose 0.4 percent on a seasonally adjusted basis from the previous month.
  • The previously reported 0.6 percent increase in September remained unchanged.
  • From October 2015 to October 2016, house prices were up 6.2 percent.

Freddie Mac’s Primary Mortgage Market Survey:

  • The 30-year fixed-rate mortgage (FRM) averaged 4.30 percent with an average 0.5 point for the week ending December 22, 2016.
  • This is up from last week when it averaged 4.16 percent.
  • A year ago at this time, the 30-year FRM averaged 3.96 percent.

pmms_chart_lg

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

  • Non-distressed properties sold during November had an average price of $299,900, based on a three-month moving average.
  • That was up 0.9 percent from October 2016.
  • Prices in November were up by 5.8 percent percent compared with the average price for non-distressed properties sold in November 2015.

Zillow November 2016 Real Estate Market Reports:

  • The median home value in the U.S. is now $192,500.
  • Home values rose 6.5 percent over the past year.
  • Rents rose 1.5 percent over the past year to $1,403 per month.

Federal Housing Finance Agency’s Q3 Foreclosure Prevention Report:

  • The serious delinquency rate for mortgages owned or guaranteed by Fannie Mae and Freddie Mac (the “Enterprises”) fell to 1.16 percent at the end of the third quarter of this year.
  • Overall, the Enterprises completed 46,390 foreclosure prevention actions in the third quarter.
  • The number of 60+ days delinquent loans declined 3 percent to 421,765 at the end of the third quarter.

Black Knight Financial Services’ First Look at November 2016 mortgage data:

  • The delinquency rate was up by 2.55 percent month-over-month.
  • However, the rate was down 9.43 percent year-over-year.
  • The number of loans in active foreclosure dropped below 500,000 for the first time in nearly 10 years.

bkfs_first_look_nov2016_chart01

Email market reports to press@inman.com.