The HomeArea.com Real Estate Market Monitor
Key Metrics and News for the Housing Industry in One Place

Market Indexes for December 2019

Months Supply

-26.47% YoY

At 2.50 (-19.35% MoM)
Historical

New Listings

-3.12% YoY

At 162,279 (-28.34% MoM)
Historical

Homes For Sale

-13.75% YoY

At 659,310 (-14.25% MoM)
Historical

New Construction

+11.08% YoY

At 107,300 (-0.19% MoM)
Historical

Home Sales

+15.41% YoY

At 260,751 (+6.33% MoM)
Historical

Sale Price

+6.85% YoY

At $312,000 (+0.65% MoM)
Historical

Sale Price Per Sqft

+4.27% YoY

At $171 (-1.72% MoM)
Historical

30yr-Fixed Mortgage

-19.83% YoY

At 3.72% (+0.54% MoM)
Historical

Headlines

How this couple paid off their $300,000 mortgage in 5 years

Feb 22, 2020 via cnbc.com Rob and Reshawn Lee bought a four-bedroom home in the suburbs of Dallas in June 2013. They paid it off in June 2018.

This Dallas couple paid off their mortgage early then traveled the world - here's how they did it

Feb 22, 2020 via cnbc.com Rob and Reshawn Lee bought a four-bedroom home in the suburbs of Dallas, Texas for $300,000. They purchased the home in 2013 and paid it off in 2018. The couple wanted to start their own businesses and felt the flexibility of not having a mortgage payment would give them the confidence to quit their well-paying corporate jobs. Watch this video to find out how the couple paid off their mortgage and to see what they did after paying off their home.

This fund is a play for the millennial home renter, and some of its holdings are up big this year

Feb 22, 2020 via cnbc.com Hoya Capital Real Estate started an exchange traded fund last March that its founder calls a macro play on the housing shortage in the United States.

Hot Seat: Ted Manley of Manley Deas Kochalski

Feb 21, 2020 via housingwire.com MDK is strongly encouraging clients to embrace the new normal while preparing for a foreclosure volume increase in the not-too-distant future. The post Hot Seat: Ted Manley of Manley Deas Kochalski appeared first on HousingWire.

Freddie Mac adds Mark Grier to its board of directors

Feb 21, 2020 via housingwire.com Freddie Mac has announced that Mark B. Grier has been elected to its Board of Directors. The post Freddie Mac adds Mark Grier to its board of directors appeared first on HousingWire.

How To Buy A House With Bad Credit

Feb 21, 2020 via redfin.com Buying a house can be an exciting yet confusing process. It can also be frustrating when you are trying to buy a house with bad credit and don't know where to turn for answers. Many people rent with the dream of going through the home buying process and purchasing their first home. But if you … How To Buy A House With Bad Credit Read More >> The post How To Buy A House With Bad Credit appeared first on Redfin Blog.

These are the best places to work in housing

Feb 21, 2020 via housingwire.com Fortune Magazine and Great Place to Work this week announced the winners of its 2020 Best Companies to Work For list, ranking America's best workplace environments for large companies. And multiple industry titans in the housing space made the list. The post These are the best places to work in housing appeared first on HousingWire.

U.S. existing-home sales fall 1.3% in January

Feb 21, 2020 via housingwire.com U.S. existing-home sales fell in January, declining 1.3% from the previous month's pace, according to the National Association of Realtors. The post U.S. existing-home sales fall 1.3% in January appeared first on HousingWire.

Housing Headlines: Redfin expands, launches Redfin Premier

Feb 21, 2020 via housingwire.com Housing Headlines takes a look at the latest news in housing, real estate, fintech and beyond; featuring new product updates, launches, expansions, integrations, announcements and more. The post Housing Headlines: Redfin expands, launches Redfin Premier appeared first on HousingWire.

January Existing Home Sales: What a Difference a Year Makes

Feb 21, 2020 via zillow.com The housing market at the beginning of 2020 is in a vastly different - and much stronger - position than it was at the beginning of 2019. The post January Existing Home Sales: What a Difference a Year Makes appeared first on Zillow Research.

January existing home sales dipped 1.3% vs. 2.0% decrease expected

Feb 21, 2020 via cnbc.com CNBC's Ylan Mui reports on the latest home sales data.

When it pays to take a personal finance course

Feb 21, 2020 via cnbc.com For those who want to improve their money smarts, there are plenty of good personal finance offerings out there. And they don't cost a dime.

House bill would extend VA loans to co-ops

Feb 20, 2020 via housingwire.com A new bill in the House of Representatives would make cooperatively owned units, or co-ops, eligible for mortgages backed by the VA. The post House bill would extend VA loans to co-ops appeared first on HousingWire.

Trump picks Dana Wade to serve as FHA commissioner

Feb 20, 2020 via housingwire.com With Brian Montgomery currently awaiting a full Senate vote to confirm him as the next deputy secretary of HUD, the Trump administration is moving to name his replacement as the leader of the FHA. The post Trump picks Dana Wade to serve as FHA commissioner appeared first on HousingWire.

People discounting Sanders' ability to win nomination: Policy analyst

Feb 20, 2020 via cnbc.com Jaret Seiberg of Cowen breaks down how Senator Bernie Sanders could impact financials and housing if he secures the 2020 Presidential election.

California court dismisses a $60 million lawsuit against Zillow

Feb 20, 2020 via housingwire.com A U.S. District Court judge on Tuesday dismissed a lawsuit against Zillow alleging damages stemming from the hacking of a listing for a $150 million home. The post California court dismisses a $60 million lawsuit against Zillow appeared first on HousingWire.

Skewed incentives lead to more jobs than places to live, says NYT reporter

Feb 20, 2020 via cnbc.com Conor Dougherty, economics reporter at The New York Times, joins 'The Exchange' to discuss the housing crisis.

Rising Star nomination period ends Friday

Feb 20, 2020 via housingwire.com Rising Stars are my favorite program. It never ceases to amaze me just how much these young entrepreneurs have accomplished and how they are innovating the housing industry. But we are coming up on the deadline to submit your nomination. The post Rising Star nomination period ends Friday appeared first on HousingWire.

Introducing Redfin Premier: A Premium Service for Luxury Homes

Feb 20, 2020 via redfin.com Redfin Premier offers premium real estate services to highlight extraordinary homes and attract luxury buyers. The post Introducing Redfin Premier: A Premium Service for Luxury Homes appeared first on Redfin Blog.

Mike Bloomberg owns a New York condo in a Trump property

Feb 20, 2020 via cnbc.com Mike Bloomberg, the 2020 candidate who is using his personal fortune to try to defeat President Trump, owns a condo in a Trump-owned property, Crain's New York Business reported.

Mortgage rates see slight increase

Feb 20, 2020 via housingwire.com The average U.S. fixed rate for a 30-year mortgage ticked up to 3.49% this week, rising slightly from last week's rate of 3.47%. The post Mortgage rates see slight increase appeared first on HousingWire.

HIRO Mortgage Program 2020: High LTV Refinance Option (HIRO) guidelines, rates, and eligibility

Feb 20, 2020 via themortgagereports.com The high LTV refinance option (HIRO) lets homeowners refinance into today's low rates even if they little or no home equity. No appraisal is required, and borrower documentation has been reduced.

Lendlease CEO discusses growth and expansion strategy

Feb 20, 2020 via cnbc.com Lendlease CEO Steve McCann discusses his firm's growth strategy, including its urban pipeline projects and a deal to build the southern precinct of an inner-city Sydney suburb.

Home Value Growth Expected to Re-Accelerate Just in Time For Home Shopping Season (January 2020 Market Report)

Feb 19, 2020 via zillow.com Annual U.S. home value growth slowed for the 21st consecutive month in January, but you have to squint to spot the difference. The post Home Value Growth Expected to Re-Accelerate Just in Time For Home Shopping Season (January 2020 Market Report) appeared first on Zillow Research.

Keller Williams launches new home search app

Feb 19, 2020 via housingwire.com Keller Williams has launched its new neighborhood-based home search app to coincide with the updated website that was launched earlier this year. The post Keller Williams launches new home search app appeared first on HousingWire.

10 Home Improvement Projects to Tackle Before Moving Into a New House

Feb 19, 2020 via redfin.com We know that moving is already a hassle, and the last thing you want to do is add more to your plate. However, if you put these key tasks off, you're ultimately making them harder to tackle later on. So if you have the time, consider these 10 to-dos before making the big move. The post 10 Home Improvement Projects to Tackle Before Moving Into a New House appeared first on Redfin Blog.

Fed calls coronavirus "new risk" to economy, minutes show

Feb 19, 2020 via housingwire.com Federal Reserve officials dubbed coronavirus a "new risk" the economy at their Jan. 28 to 29 meeting, minutes of the meeting show. The post Fed calls coronavirus "new risk" to economy, minutes show appeared first on HousingWire.

The questionable fate of loan originator compensation

Feb 19, 2020 via housingwire.com Mortgage loan originator compensation rules are strictly regulated by the Consumer Financial Protection Bureau. However, this could all change as the industry actively calls for new regulation. HW+ Premium Content The post The questionable fate of loan originator compensation appeared first on HousingWire.

Single-family building permits rise to a 12-year high

Feb 19, 2020 via housingwire.com Building permits for single-family homes rose to a 12-year high in January as homebuilders began shifting into high gear amid a property shortage. The post Single-family building permits rise to a 12-year high appeared first on HousingWire.

Cost of renting continues to steadily rise

Feb 19, 2020 via housingwire.com While rent prices are going up, the latest 3% year-over-year increase marks the slowest pace in 18 months, according to a new report from RentCafe. The post Cost of renting continues to steadily rise appeared first on HousingWire.

Abu Dhabi makes pitch to private sector in multi-billion dollar investment drive

Feb 19, 2020 via cnbc.com The Abu Dhabi Government is turning to the private sector for the next phase of its multi-year, 50 billion dirham ($13.6 billion) economic stimulus plan known as Ghadan 21.

January Housing Starts: The Good Times Keep Rolling

Feb 19, 2020 via zillow.com Taken altogether, the past few months represent the best sustained performance by builders since well before the Great Recession. The post January Housing Starts: The Good Times Keep Rolling appeared first on Zillow Research.

Sellers: These home features can help your listing get more attention

Feb 19, 2020 via themortgagereports.com Top-searched home features Want to spark a bidding war when you list your home? Adding a man-cave or she-shed may be able to help. According to new research, these and […]

Weekly mortgage applications take a hit as mortgage rates tick up

Feb 19, 2020 via cnbc.com The refinance boom took a step back last week, bringing down total mortgage applications. Mortgage application volume decreased 6.4% from the previous week, according to the Mortgage Bankers Association.

Mortgage applications see a big drop this week

Feb 19, 2020 via housingwire.com According to the Mortgage Bankers Association, mortgage applications decreased 6.4% from last week's 1.1% increase. The post Mortgage applications see a big drop this week appeared first on HousingWire.

The Typical Homeowner in a "Redlined" Neighborhood Has Missed Out on $180,000 Worth of Home Equity

Feb 18, 2020 via redfin.com Even 52 years after it was outlawed, the discriminatory housing practice of redlining continues to create a racial wealth gap across America. The post The Typical Homeowner in a "Redlined" Neighborhood Has Missed Out on $180,000 Worth of Home Equity appeared first on Redfin Blog.

Instant mortgages: marketing tagline or reality?

Feb 18, 2020 via housingwire.com Instant mortgages are the endgame of directly-connected consumer data, but who controls consumer data in the end: lenders or consumers? And how do we even define and market instant mortgages today? The post Instant mortgages: marketing tagline or reality? appeared first on HousingWire.

Housing Market Update: February 2020

Feb 18, 2020 via redfin.com Low mortgage rates and even lower inventory are fueling a competitive start to 2020. Daryl Fairweather offers advice for buyers in this seller's market. The post Housing Market Update: February 2020 appeared first on Redfin Blog.

Housing Market Update: February 2020

Feb 18, 2020 via redfin.com Low mortgage rates and even lower inventory are fueling a competitive start to 2020. Daryl Fairweather offers advice for buyers in this seller's market. The post Housing Market Update: February 2020 appeared first on Redfin Blog.

Here are the hardest and easiest places to buy a house

Feb 18, 2020 via housingwire.com At the top of the list sits Cape Coral, Florida. This is an easy place to move to because Florida's busy real estate season begins in the fall. The post Here are the hardest and easiest places to buy a house appeared first on HousingWire.

Only 3 major metros saw new construction increases in 2019

Feb 18, 2020 via housingwire.com According to BuildFax's latest report, year-over-year increases in single-family housing authorizations exceeded 6%. However, only three major metros saw new construction increases in the past 12 months. The post Only 3 major metros saw new construction increases in 2019 appeared first on HousingWire.

Homebuilder confidence slips again in February

Feb 18, 2020 via housingwire.com Homebuilder confidence slightly fell again this month, according to February's Housing Market Index. The last three monthly readings mark the highest sentiment levels since December 2017. The post Homebuilder confidence slips again in February appeared first on HousingWire.

Black Homeownership Shows Signs of Healing From the Wounds of the Great Recession

Feb 17, 2020 via zillow.com The U.S. black homeownership rate surged at the end of the 2010s, an encouraging sign that black homebuyers are increasingly succeeding in getting their slice of the American dream. The post Black Homeownership Shows Signs of Healing From the Wounds of the Great Recession appeared first on Zillow Research.

U.S. home prices rise by 4% in December

Feb 17, 2020 via housingwire.com Last December, home prices climbed by 4% from the previous year, according to CoreLogic. By the end of this year, the company projects they'll increase by 5.2%. The post U.S. home prices rise by 4% in December appeared first on HousingWire.

Here's where the real housing affordability crisis exists

Feb 17, 2020 via housingwire.com Some housing pundits report the demand for housing is strong, while these same pundits, on another day say that we are in a housing affordability crisis. Can the two narratives be accurate at the same time? If not, which is one is true? HousingWire Columnist Logan Mohtashami takes a deeper dive. The post Here's where the real housing affordability crisis exists appeared first on HousingWire.

Los Angeles is now the least affordable housing market

Feb 17, 2020 via housingwire.com The least affordable housing market for the past two years has been San Francisco, with its notoriously high price of living. Now, the National Association of Home Builders and Wells Fargo Housing Opportunity Index has given the title of least affordable housing market to Los Angeles. The post Los Angeles is now the least affordable housing market appeared first on HousingWire.

There haven't been this few homes on the market since 2013

Feb 17, 2020 via housingwire.com Although the nation's home-sale prices ticked up in January, its housing inventory continued to dwindle. As a result, Redfin now claims a lack of supply is causing a demand crunch across the country. The post There haven't been this few homes on the market since 2013 appeared first on HousingWire.

It's time to go beyond POS technology

Feb 17, 2020 via housingwire.com Technology has come a long way in the mortgage industry over the past few years, but one expert says it's time for lenders to move beyond tech that is front-facing. If lenders want to stay profitable in a tight market, they will need to move beyond point of sale technology. The post It's time to go beyond POS technology appeared first on HousingWire.

Tesla ordered to halt work on German factory amid anger over chopping down trees

Feb 17, 2020 via cnbc.com Environmental activists are concerned by Tesla's plan to chop down trees to clear land for its new Gigafactory.

Worried about paying over listing price for that dream home? You might not need to

Feb 17, 2020 via themortgagereports.com Homes selling above listing price drop Home prices might not be declining, but there's still good news for homebuyers. According to new data, the number of homes being sold above […]

Housing Prices

House Price Index

A weighted, repeat-sales index which measures average price changes on the same properties for single-family homes whose mortgages go through Fannie Mae or Freddie Mac.

Latest: 277.37 (August 2019), MoM change: +0.17%, YoY change: +4.61%

Source: Federal Housing Finance Agency

Sale Prices

Median Sale Price Latest: $306,000 (January 2020), MoM change: -1.92%, YoY change: +6.62%

Source: Redfin.com

Sale Price Per Square Foot

Median Price Per Square Foot Latest: $177 (January 2020), MoM change: +3.51%, YoY change: +3.51%

Source: Redfin.com

Sale to List Price

Latest: 97.67% (January 2020), MoM change: -0.16%, YoY change: +0.29%

Source: Redfin.com

Sold Above List Price

Latest: 18.68% (January 2020), MoM change: -5.25%, YoY change: +5.89%

Source: Redfin.com

Price Changes

Price Drops Latest: 21.55% (January 2020), MoM change: +30.86%, YoY change: -3.06%

Source: Redfin.com

Mortgage Rates

30-Year Fixed-Rate Loans

Only includes first-lien prime conventional conforming home purchase mortgages with a loan-to-value of 80 percent. For the past several decades, more than half of consumers choose 30-year, fixed-rate mortgages.

Rate Latest: 3.72% (December 2019), MoM change: +0.54%, YoY change: -19.83%

Points Latest: 0.70% (December 2019), MoM change: +16.67%, YoY change: +40.00%

Source: Freddie Mac Primary Mortgage Market Survey (PMMS)

Listings

Active, New, and Sold Listings

Active Listings Latest: 657,765 (January 2020), MoM change: -0.23%, YoY change: -15.39%

New Listings Latest: 269,444 (January 2020), MoM change: +66.04%, YoY change: -4.57%

Home Sales Latest: 190,021 (January 2020), MoM change: -27.13%, YoY change: +8.92%

Source: Redfin.com

Months Supply

Latest: 3.50 (January 2020), MoM change: +40.00%, YoY change: -22.22%

Source: Redfin.com

Days on Market

Median Days On Market Latest: 56 (January 2020), MoM change: +12.00%, YoY change: -3.45%

Source: Redfin.com

New Construction

Housing Units Authorized by Building Permits

Only includes new, privately owned housing units in roughly 20,000 permit issuing places in the U.S. According to the Census Bureau, permit issuing places account for 98% of new construction. The data is not seasonally adjusted.

Latest: 107,300 (December 2019), MoM change: -0.19%, YoY change: +11.08%

Source: U.S. Census Bureau

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