Real estate daily market update: January 30, 2018

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

Most recent market news

Tuesday, January 30

First American Real House Price Index

  • Real house prices increased 0.5 percent between October and November 2017.
  • Real house prices increased 5.0 percent year over year.
  • Consumer house-buying power, how much one can buy based on changes in income and interest rates, was unchanged between October and November 2017, and grew 0.9 percent year over year.
  • Real house prices are 37.7 percent below their housing boom peak in July 2006 and 16.2 percent below the level of prices in January 2000.
  • Unadjusted house prices increased by 6.0 percent in November on a year-over-year basis and are 6.3 percent above the housing boom peak in 2007.

S&P CoreLogic Case-Shiller Indices

  • The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index, covering all nine U.S. census divisions, reported a 6.2% annual gain in November, up from 6.1% in the previous month.
  • The 10-City Composite annual increase came in at 6.1%, up from 5.9% the previous month.
  • The 20-City Composite posted a 6.4% year-over-year gain, up from 6.3% the previous month.
    Seattle, Las Vegas, and San Francisco reported the highest year-over-year gains among the 20 cities.
  • In November, Seattle led the way with a 12.7% year-over-year price increase, followed by Las Vegas with a 10.6% increase, and San Francisco with a 9.1% increase. Six cities reported greater price increases in the year ending November 2017 versus the year ending October 2017.

Read the full report here.

Monday, January 29

Bankrate Mortgage Rates

  • The average 30-year fixed-rate mortgage increased 7 basis points to 4.27 percent.

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