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

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

  • Total existing-home sales finished 2016 at 5.45 million sales.
  • In December, existing sales decreased 2.8 percent to a seasonally adjusted annual rate of 5.49 million in December from an upwardly revised 5.65 million in November.
  • With last month’s slide, sales are only 0.7 percent higher than a year ago.

Pro Teck Valuation Services Home Value Forecast: 

  • Months of remaining inventory (MRI) — the current number of active listings divided by the monthly sales rate — is around 6 months in a balanced market.
  • Communities with an MRI under 3 have jumped from 12.7 percent in December 2015 to 20.63 percent in December 2016 — a 62.44 percent increase.
  • In December 2014, this number was 9.17 percent — there’s been a 125-percent increase in communities with a dramatic shortage of homes for sale since December 2014.

Mortgage rates:

[graphiq id=”b2w6fmfIyNL” title=”30-Year Fixed Rate Mortgage Rates for the Past 6 Months” width=”600″ height=”400″ url=”https://w.graphiq.com/w/b2w6fmfIyNL” link=”http://mortgage-lenders.credio.com” link_text=”30-Year Fixed Rate Mortgage Rates for the Past 6 Months | Credio”]

[graphiq id=”2NvK9Bl9HIF” title=”15-Year Fixed Rate Mortgage Rates for the Past 6 Months” width=”600″ height=”400″ url=”https://w.graphiq.com/w/2NvK9Bl9HIF” link=”http://mortgage-lenders.credio.com” link_text=”15-Year Fixed Rate Mortgage Rates for the Past 6 Months | Credio”]

 

Home equity rates:

[graphiq id=”kPkTJrAnX5r” title=”Average Home Equity Loan Bank Rates by State” width=”600″ height=”465″ url=”https://w.graphiq.com/w/kPkTJrAnX5r” link=”http://mortgage-lenders.credio.com” link_text=”Average Home Equity Loan Bank Rates by State | Credio”]

[graphiq id=”dP0v3iYOnH” title=”Average Home Equity Loan Credit Union Rates by State” width=”600″ height=”465″ url=”https://w.graphiq.com/w/dP0v3iYOnH” link=”http://mortgage-lenders.credio.com” link_text=”Average Home Equity Loan Credit Union Rates by State | Credio”]

Most recent market news:

First American Financial Corporation’s Potential Home Sales Model for December 2016:

  • Potential existing-home sales decreased to a 5.8 million seasonally adjusted, annualized rate (SAAR).
  • This represents a 92.5 percent increase from the market potential low point reached in December 2008.
  • In December, the market potential for existing-home sales grew by 2.9 percent compared with a year ago, an increase of 164,000 (SAAR) sales.

Email market reports to press@inman.com.

Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
Success!
Thank you for subscribing to Morning Headlines.
Back to top
Inman Connect Black Friday Sale! Bundle our next two events or secure your 2021 All Access Pass.SEE THE DEALS×
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription