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

Market Indexes for September 2019

Months Supply

-13.89% YoY

At 3.10 (+14.81% MoM)
Historical

New Listings

-1.16% YoY

At 308,250 (-8.43% MoM)
Historical

Homes For Sale

-7.68% YoY

At 842,810 (-1.96% MoM)
Historical

New Construction

+14.44% YoY

At 114,900 (-10.09% MoM)
Historical

Home Sales

+6.64% YoY

At 267,720 (-15.90% MoM)
Historical

Sale Price

+4.75% YoY

At $309,000 (-1.59% MoM)
Historical

Sale Price Per Sqft

+1.12% YoY

At $181 (+3.43% MoM)
Historical

30yr-Fixed Mortgage

-22.03% YoY

At 3.61% (-0.28% MoM)
Historical

Headlines

FHA mortgage insurance premiums to hold steady in 2020

Nov 14, 2019 via themortgagereports.com FHA mortgage insurance will remain steady in 2020. Here's what that mean for homeowners and home buyers. Some can still get rid of FHA MIP this year.

Here are the mortgage lenders that borrowers like the most

Nov 14, 2019 via housingwire.com J.D. Power's 2019 U.S. Primary Mortgage Origination Satisfaction Study, released Thursday morning, showed that there are some lenders that customers seem to love working with more than others. Here are the ones that borrowers are partial to. The post Here are the mortgage lenders that borrowers like the most appeared first on HousingWire.

Foreclosures rose in October, but are still down for the year

Nov 13, 2019 via housingwire.com Foreclosures rose 13% in October from September, a new foreclosure market report from ATTOM Data Solutions said. Although foreclosures went up in October over the previous month, they were down 17% from a year ago. The post Foreclosures rose in October, but are still down for the year appeared first on HousingWire.

WeWork tells investors it lost $1.25 billion in the third quarter

Nov 13, 2019 via cnbc.com Losses were up more than 150% from last year as the company added a record number of desks.

Fed: Household debt rises to record $14 trillion

Nov 13, 2019 via housingwire.com U.S. household debt rose to a record trillion in the third quarter, led by a rise in mortgage loans, the Federal Reserve Bank of New York said on Wednesday. The post Fed: Household debt rises to record $14 trillion appeared first on HousingWire.

Mortgage Tech Rundown: Black Knight, Notaroo, and Latch

Nov 13, 2019 via housingwire.com Today's Mortgage Tech Rundown focuses on the latest product and software developments, integrations and more from companies like Black Knight, Notaroo, and Latch. The post Mortgage Tech Rundown: Black Knight, Notaroo, and Latch appeared first on HousingWire.

Building lot prices reach record high, NAHB says

Nov 13, 2019 via housingwire.com Lot prices reached a record high of $49,500 in 2018, according to the National Association of Home Builders. The post Building lot prices reach record high, NAHB says appeared first on HousingWire.

Opendoor is now buying homes up to $800,000 in its newest market

Nov 13, 2019 via housingwire.com Opendoor announced its launch in Los Angeles on Wednesday, a move that marked a new high in the company's price ceiling for homes it will buy. The post Opendoor is now buying homes up to $800,000 in its newest market appeared first on HousingWire.

Bidding wars for homes hit a decade low

Nov 13, 2019 via cnbc.com Competition in the fall housing market is falling. Just 10% of offers written by Redfin agents for their clients in October faced a bidding war, down from 39% a year ago, according to the Seattle-based real estate brokerage.

Redfin: Bidding war competition drops to 10-year low in October

Nov 13, 2019 via housingwire.com Although the nation's low-interest rates continue to drive purchasing demand, a report from Redfin indicates America's bidding competition weakened in October. According to the company, 10% of purchasing offers made on its site faced a bidding war during the month. Not only is this percentage down from last year's rate of 39%, but it also marks a 10-year-low. The post Redfin: Bidding war competition drops to 10-year low in October appeared first on HousingWire.

National Bidding War Rate Hit a 10-Year Low in October

Nov 13, 2019 via redfin.com Nationally, just 10 percent of offers written by Redfin agents on behalf of their homebuying customers faced a bidding war in October The post National Bidding War Rate Hit a 10-Year Low in October appeared first on Redfin Blog.

Homeowners are staying put longer -- especially in Texas

Nov 13, 2019 via themortgagereports.com There's a reason why housing inventory is so low: Homeowners are staying in their homes longer than ever. According to a new analysis, homeowners in some cities are staying put for over two decades.

Weekly mortgage applications jump to highest level in over a month

Nov 13, 2019 via cnbc.com Mortgage rates are turning higher again, and that was likely behind a major surge in mortgage application volume last week.

Sacrifices People Make to Afford the Rent

Nov 13, 2019 via zillow.com 26% of renters say that affording their rent is difficult or very difficult - and 66% make at least one sacrifice to afford their rent. The most common renter sacrifices are reducing spending on entertainment (38%) and picking up additional work (25%). A smaller percentage of renters make more serious sacrifices to afford their rent:... The post Sacrifices People Make to Afford the Rent appeared first on Zillow Research.

RealPage: The size of the average U.S. household is growing

Nov 12, 2019 via housingwire.com For the first time since 1850, the average size of the U.S. household is on the rise, RealPage says. And it's not just the kids or Millennials, either. Households are becoming multi-generational. The post RealPage: The size of the average U.S. household is growing appeared first on HousingWire.

Trump threatens to "substantially" raise tariffs

Nov 12, 2019 via housingwire.com President Donald Trump told business leaders in a speech to the Economic Club of New York on Tuesday that he might not be done raising tariffs on Chinese goods. The post Trump threatens to "substantially" raise tariffs appeared first on HousingWire.

NAR bans "pocket listings"

Nov 12, 2019 via housingwire.com The National Association of Realtors board of directors voted 729-70 on Monday to ban the controversial practice of "pocket listings." The post NAR bans "pocket listings" appeared first on HousingWire.

Gateway First Bank adds new chief credit officer

Nov 12, 2019 via housingwire.com Gateway First Bank announced Tuesday that the company is bringing on Deirdre Cherry as its chief credit officer. The post Gateway First Bank adds new chief credit officer appeared first on HousingWire.

LoanLogics appoints new chief product strategist to enhance its offerings

Nov 12, 2019 via housingwire.com LoanLogics, a provider of loan quality technology for mortgage manufacturing and loan acquisition, recently appointed Brenda Clem as its new chief product strategist. The post LoanLogics appoints new chief product strategist to enhance its offerings appeared first on HousingWire.

Surveillance video released of burglars who raided billionaire Mall of America mogul Don Ghermezian's New York mansion

Nov 12, 2019 via cnbc.com Police released video of the suspected burglars who ransacked the New York mansion of billionaire Don Ghermezian, stealing $140,000 worth of luggage and jewelry.

Warehouse leasing plummets - because there's so little new space to lease

Nov 12, 2019 via cnbc.com Warehouse tenants soaked up about 41 million square feet of space in the third quarter of this year, a 23% drop from the previous quarter and less than half as much as a year ago, according to a new report.

Humanizing AI to improve the home buying journey

Nov 12, 2019 via housingwire.com There's no question AI and machine learning are having a transformational impact on the home buying and refinancing journey. And while the long-term reverberations of AI's expanding role are fascinating and for some worrying, companies are realizing that marrying people with machine intelligence is the path to capitalize on AI’s potential. Artificial intelligence has generated […] The post Humanizing AI to improve the home buying journey appeared first on HousingWire.

Income Gains and Rent Increases Follow Rail Transit

Nov 12, 2019 via redfin.com Improving transit access to a neighborhood does not lead to a significant decrease in minority populations, even as incomes and rents rise faster than similar neighborhoods without convenient transit. The post Income Gains and Rent Increases Follow Rail Transit appeared first on Redfin Blog.

Want to avoid high closing costs? Here's where mortgage fees cost the most

Nov 12, 2019 via themortgagereports.com Mortgage fees vary greatly from lender to lender -- and apparently from place to place. Average fees range anywhere from just $500 nearly $7,000.

Millennials continue to outpace older generations in homebuying

Nov 11, 2019 via housingwire.com Continuing a trend that stretches back to one year ago, Millennials are still dominating the homebuying landscape, taking on more mortgages than previous generations. The post Millennials continue to outpace older generations in homebuying appeared first on HousingWire.

loanDepot expands its leadership team with key hire

Nov 11, 2019 via housingwire.com loanDepot, a non-bank provider of direct-to-consumer loans, recently welcomed Steve Kay to the leadership team of its retail lending channel, in a move the company anticipates will champion growth. The post loanDepot expands its leadership team with key hire appeared first on HousingWire.

Congress considers fix to QM Patch

Nov 11, 2019 via housingwire.com Congress will consider legislation on Wednesday to fix the so-called QM Patch that permits some loans to borrowers with high debt levels to be considered Qualified Mortgages. The post Congress considers fix to QM Patch appeared first on HousingWire.

Inner-city kids are learning the art of real estate investing from these major property tycoons

Nov 11, 2019 via cnbc.com Project Destined, a nonprofit program teaching inner-city kids how to develop and invest in real estate, operates in major cities nationwide. Participants gain financially from the profits on real deals in which Project Destined invests.

Fed's climate conference cites housing impact

Nov 11, 2019 via housingwire.com The Federal Reserve held its first-ever public discussion of the climate crisis on Friday, citing threat to housing. The post Fed's climate conference cites housing impact appeared first on HousingWire.

Offerpad ups the ante in iBuying, launches new home-renovation feature

Nov 11, 2019 via themortgagereports.com Want that new house move-in ready, but not prepared to put in the work? Offerpad has you covered with its newest feature.

TJX, Ross, Burlington are beneficiaries of 'roadkill losers in the mall,' Jim Cramer says

Nov 8, 2019 via cnbc.com Shopping center landlords don't have to worry about off-price retailers going under the next time we have a recession, the "Mad Money" host says.

Opendoor partners with two additional homebuilders

Nov 8, 2019 via housingwire.com Opendoor announced this week that Century Communities and Gehan Homes have been added to the already-extensive list of homebuilders in its trade-in program. The post Opendoor partners with two additional homebuilders appeared first on HousingWire.

More first time homebuyers enlisting help from family, friends

Nov 8, 2019 via housingwire.com Home prices are rising with no signs of slowing, and affordability is getting worse each month, causing potential homebuyers to turn to family or even friends to come up with a down payment. The National Association of Realtors revealed that more than 30% of first-time homebuyers used down payment help from family and friends. The post More first time homebuyers enlisting help from family, friends appeared first on HousingWire.

4 Health Hazards in Your Home and How to Protect Yourself

Nov 7, 2019 via redfin.com Radon, CO, lead, and mold exposure can cause detrimental effects. Learn how to protect yourself and your family from these health hazards in your home. The post 4 Health Hazards in Your Home and How to Protect Yourself appeared first on Redfin Blog.

Reonomy raises $60 million in Series D funding

Nov 7, 2019 via housingwire.com Reonomy, a commercial real estate data startup, closed a Series D funding round at $60 million. The new investment brings the total funding for the company to more than $128 million. The post Reonomy raises $60 million in Series D funding appeared first on HousingWire.

Growing real estate giant Pretium buys Selene Finance

Nov 7, 2019 via housingwire.com Pretium, an investment management firm that owns one of the nation's largest single-family rental operators and buys loads of non-performing loans from Fannie Mae and Freddie Mac, expanded its housing business earlier this year when it bought Deephaven Mortgage. But buying the non-QM lender wasn't Pretium's last big move of 2019. The post Growing real estate giant Pretium buys Selene Finance appeared first on HousingWire.

No vacancy: Apartment rentals nearly hit all-time high this year

Nov 7, 2019 via housingwire.com According to new analysis from RealPage, this year was the second highest apartment leasing season ever, with 281,800 units absorbed (or rented). The post No vacancy: Apartment rentals nearly hit all-time high this year appeared first on HousingWire.

Commercial and multifamily originations surge in Q3

Nov 7, 2019 via housingwire.com Commercial and multifamily originations surged in the third quarter, the latest Quarterly Survey of Commercial/Multifamily Mortgage Bankers Originations from the MBA stated. Here's what properties were invested in, and a breakdown of this quarter's biggest investors. The post Commercial and multifamily originations surge in Q3 appeared first on HousingWire.

More Americans say now is a bad time to buy a home

Nov 7, 2019 via cnbc.com There was also a drop in the share of people who think now is a good time to sell a home, from 44% to 41%, according to a monthly survey by Fannie Mae.

Democratic candidates take a stand on homelessness

Nov 7, 2019 via housingwire.com This week Mayor and Presidential Candidate Pete Buttigieg came out against a homeless ordinance in Las Vegas. Shortly after that, former Secretary of the U.S. Department of Housing and Urban Development and Presidential Candidate Julian Castro voiced his opinion on the bill, sarcastically saying the homeless should be treated like people. The post Democratic candidates take a stand on homelessness appeared first on HousingWire.

Luxury Housing Market Stabilized in the Third Quarter After a Weak First Half

Nov 7, 2019 via redfin.com With sales up and supply down, the luxury market moderated after the first two quarters were marred by nerves about an impending recession. The post Luxury Housing Market Stabilized in the Third Quarter After a Weak First Half appeared first on Redfin Blog.

Is the small town life for you? Here's where you should head

Nov 7, 2019 via themortgagereports.com A small town often means lower housing costs and a better quality of life. Want to buy a house in one of these idyllic spots? Then head to Kansas.

Snapdocs raises $25 million in Series B funding round

Nov 7, 2019 via housingwire.com Snapdocs, which was founded in 2013, will use the money to continue development on its digital real estate closing platform as well as its artificial intelligence offerings. The post Snapdocs raises $25 million in Series B funding round appeared first on HousingWire.

U.S.-China Roller Coaster Sends Mortgage Rates Way Down, Then Way Up

Nov 6, 2019 via zillow.com It's been a tumultuous seven days, with mortgage rates ultimately settling near three-month highs. Once again, the driving force behind these movements were trade discussions between the U.S. and China. The post U.S.-China Roller Coaster Sends Mortgage Rates Way Down, Then Way Up appeared first on Zillow Research.

SoftBank CEO says there will be no 'rescue' investments after WeWork debacle

Nov 6, 2019 via cnbc.com After SoftBank reported its first quarterly loss in 14 years on Wednesday, CEO Masayoshi Son told investors that there may be more failures in the Vision Fund.

Why We Should All Support Clear Cooperation

Nov 6, 2019 via redfin.com Pocket listings harm consumers. When agents offer their listings to exclusive networks of buyers, the academic research suggests minorities are most often the ones who are excluded. The post Why We Should All Support Clear Cooperation appeared first on Redfin Blog.

Homeowners get the highest rates of return when selling in these 3 cities

Nov 6, 2019 via cnbc.com When it comes to making money from selling your house, price appreciation is only part of the equation. You should think about how much it costs to own a home versus how much it costs to rent, according to Betterment.

Airbnb pushes new safety measures days after deadly party-house shooting

Nov 6, 2019 via cnbc.com Airbnb is pushing out several new safety features in the wake of a tragic incident at one of their bookings, CEO Brian Chesky announced.

Watch Airbnb co-founder and CEO Brian Chesky speak live

Nov 6, 2019 via cnbc.com Brian Chesky speaks live at the New York Times DealBook Conference Wednesday about increased regulatory scrutiny of Airbnb and his company's potential IPO.

Airbnb suffers setback in Jersey City as residents vote to regulate short-term rentals

Nov 6, 2019 via cnbc.com The new regulations come amid a wave of laws considered in cities across the world that seek to regulate the rapid growth of Airbnb due to concerns over how the company affects long-term residents.

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: $309,000 (September 2019), MoM change: -1.59%, YoY change: +4.75%

Source: Redfin.com

Sale Price Per Square Foot

Median Price Per Square Foot Latest: $181 (September 2019), MoM change: +3.43%, YoY change: +1.12%

Source: Redfin.com

Sale to List Price

Latest: 97.80% (September 2019), MoM change: -0.36%, YoY change: -0.17%

Source: Redfin.com

Sold Above List Price

Latest: 21.92% (September 2019), MoM change: -5.42%, YoY change: -3.52%

Source: Redfin.com

Price Changes

Price Drops Latest: 27.81% (September 2019), MoM change: -0.38%, YoY change: +5.17%

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: 3.69% (October 2019), MoM change: +2.22%, YoY change: -23.60%

Points Latest: 0.60% (October 2019), MoM change: +20.00%, YoY change: +20.00%

Source: Freddie Mac Primary Mortgage Market Survey (PMMS)

Listings

Active, New, and Sold Listings

Active Listings Latest: 842,810 (September 2019), MoM change: -1.96%, YoY change: -7.68%

New Listings Latest: 308,250 (September 2019), MoM change: -8.43%, YoY change: -1.16%

Home Sales Latest: 267,720 (September 2019), MoM change: -15.90%, YoY change: +6.64%

Source: Redfin.com

Months Supply

Latest: 3.10 (September 2019), MoM change: +14.81%, YoY change: -13.89%

Source: Redfin.com

Days on Market

Median Days On Market Latest: 42 (September 2019), MoM change: +5.00%, YoY change: +5.00%

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: 114,900 (September 2019), MoM change: -10.09%, YoY change: +14.44%

Source: U.S. Census Bureau

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