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- The Pending Home Sales Index decreased 2.8 percent to 106.4 in January from an upwardly revised 109.5 in December 2016.
- January’s index reading is 0.4 percent above last January, but it is the lowest since then.
- Existing-home sales are forecast to be around 5.57 million this year, an increase of 2.2 percent from 2016 (5.45 million).
- Real house prices increased 6.2 percent between November and December 2016. Compared to December 2015, real house prices increased by 8.0 percent.
- Consumer house-buying power, how much one can buy based on changes in income and interest rates, declined 5.1 percent between November and December 2016, and fell 2.1 percent year-over-year.
- Unadjusted house prices increased by 5.8 percent in December on a year-over-year basis and are 1.5 percent above the housing boom peak in 2007.
- According to the nowcast, February sales will fall between seasonally adjusted annual rates of 5.34 million to 5.69 million, with a targeted number of 5.51 million.
- This is down 3 percent from NAR’s reported January sales yet up 7 percent from a year ago.
Home equity rates:
Most recent market news:
- Sales of new single-family houses in January 2017 were at a seasonally adjusted annual rate of 555,000, 3.7 percent above the revised December rate of 535,000 and 5.5 percent above the January 2016 estimate of 526,000.
- The median sales price of new houses sold in January 2017 was $312,900. The average sales price was $360,900.
- The seasonally adjusted estimate of new houses for sale at the end of January was 265,000. This represents a supply of 5.7 months at the current sales rate.
- The frequency of defects, fraudulence and misrepresentation in the information submitted in mortgage loan applications increased 5.8 percent in January 2017 over December 2016.
- Compared to January 2016, the Defect Index decreased by 3.9 percent.
- The Defect Index is down 28.4 percent from the high point of risk in October 2013.
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