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- The National Home Price Index increased 5.8 percent year-over-year in December 2016.
- This is the 56th consecutive month of positive gains and the largest since June 2014.
- December was also the sixth consecutive month in which the year-over-year figure increased over the previous month.
- The average interest rate on all mortgage loans was 4.17 percent.
- This is up 26 basis points from 3.91 in December.
- The average loan amount for all loans was $305,400 in January, down $13,700 from $319,100 in December.
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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.
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