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

Market Indexes for November 2018

House Price Index

+5.76% YoY

At 269.20 (+0.38% MoM)
Historical

List Price

+8.50% YoY

At $293,000 (-0.68% MoM)
Historical

List Price Per Sqft

+7.52% YoY

At $143 (0.00% MoM)
Historical

30yr-Fixed Mortgage

+21.58% YoY

At 5.07% (+2.01% MoM)
Historical

Active Listings

+3.92% YoY

At 1,515,489 (-2.76% MoM)
Historical

New Listings

+3.30% YoY

At 383,110 (-13.72% MoM)
Historical

Days on Market

-6.58% YoY

At 71 (+4.41% MoM)
Historical

New Construction

+2.23% YoY

At 101,000 (-10.30% MoM)
Historical

Headlines

Fed's Mester says another rate hike in 2019 is possible

Feb 19, 2019 via housingwire.com The Federal Reserve Bank of Cleveland President Loretta Mester said she expects the strong economy may warrant another interest rate hike in 2019. In a speech, Mester explained that she believes the funds rate may need to move just "a bit higher" if the economy performs strongly, but said she's willing to consider changing her outlook if the economy changes course.

HUD awards $10 million in "sweat equity" grants

Feb 19, 2019 via housingwire.com The Department of Housing and Urban Development announced this week that it is awarding $10 million in "sweat equity" grants to a group of nonprofit housing organizations. Sweat equity and volunteer labor may include landscaping, foundation work, painting, carpentry, trim work, drywall, roofing, and siding for the housing.

Consolidated Analytics hires new CFO

Feb 19, 2019 via housingwire.com Consolidated Analytics - a provider of property valuation, asset management, due diligence, fulfillment and advisory services for the real estate finance industry - has appointed Mike Jones as its new chief financial officer. A 25-year industry veteran, Jones has served as CFO for Southwest Stage Funding, Home Point Financial, Clara Lending and United Wholesale Mortgage.

Could a forward-looking SOFR be LIBOR's best replacement?

Feb 19, 2019 via housingwire.com The London Interbank Offered Rate, which many short-term mortgages are tied to, will be phased out at the end of 2021, and some think the Federal Reserve Bank of New York's Secured Overnight Finance Rate may have the best bet of becoming its replacement.

Mortgage Tech Rundown: RealPage, Vodii and Land Gorilla

Feb 19, 2019 via housingwire.com This week's mortgage and real estate technology rundown features the latest developments and announcements from RealPage, Vodii and more.

Announcing the 2019 engage.marketing advisory board

Feb 19, 2019 via housingwire.com To succeed in this purchase market, lenders need to understand and execute on the marketing strategies that are working right now. That's why we've assembled a dream team of 10 marketing experts from some of the most successful lenders in the country to guide our engage.marketing event June 13-14 in Charlotte, North Carolina.

Here's a map of where Payless ShoeSource is closing 2,500 stores

Feb 19, 2019 via cnbc.com Payless ShoeSource filed for bankruptcy protection on Monday, a day after it began winding down its 2,500 U.S. stores.

Homebuilder sentiment rises as interest rates stay in check

Feb 19, 2019 via cnbc.com The nation's homebuilders are feeling better about the state of their industry as lower interest rates boost consumer confidence.

Homebuilder confidence climbs as economy strengthens

Feb 19, 2019 via housingwire.com Declining mortgage rates partnered with a healthy economy contributed to homebuilder confidence increasing two points to 62 in February, according to the National Association of Home Builders/Wells Fargo Housing Market Index. NAHB Chief Economist Robert Dietz said builder confidence levels moved up in tandem with growing consumer confidence and falling interest rates.

Home Price Growth Edged Up Nationally in January While the West Coast Began Seeing Red

Feb 19, 2019 via redfin.com Homebuyers are in the strongest position in years as the supply of homes for sale grows at fastest rate since May 2015 The housing market started off 2019 with buyers in a much better position than they were a year earlier. U.S. home-sale prices increased 2.9 percent in January compared to a year ago, to […] The post Home Price Growth Edged Up Nationally in January While the West Coast Began Seeing Red appeared first on Redfin Real-Time.

Homebuyers in these states enjoy the lowest mortgage rates

Feb 19, 2019 via themortgagereports.com Looking to snag a low mortgage rate? Then considering putting down roots in California. According to new data, the state claims the lowest mortgage rates in the nation.

Why Early May Is the Best Time to List a Home for Sale

Feb 18, 2019 via zillow.com U.S. homes listed for sale in early May sell for $1,600 more than the average listing throughout the year. Homes listed on a Saturday are viewed the most on Zillow within the first week of listing. The post Why Early May Is the Best Time to List a Home for Sale appeared first on Zillow Research.

HECM margins increase for the first time in a year

Feb 18, 2019 via housingwire.com Margins on adjustable-rate reverse mortgages increased in December for the first time in 12 months, according to Baseline Reverse's latest Margin Report. Lender margins for the month averaged 1.98% in December, up from November's adjusted average of 1.95% and marking the first time margins have reversed the downward trajectory they've experienced throughout 2018.

Forecasts for Existing and New Home Sales (January 2019)

Feb 18, 2019 via zillow.com Zillow expects estimates January existing home sales to rise 0.9 percent from December. The outlook for new home sales is somewhat cloudier, because December new home sales data still have not been released as a result of the partial government shutdown. The post Forecasts for Existing and New Home Sales (January 2019) appeared first on Zillow Research.

Report: Lackluster home sales push inventory growth in January

Feb 18, 2019 via housingwire.com In January, home sales declined for the sixth consecutive month, leading to the largest inventory increase in 10 years, according to the latest RE/MAX National Housing Report. RE/MAX CEO Adam Contos said the winter chill extended to the housing market in January, as home sales remained cool.

California, your new home prices are about to spike

Feb 18, 2019 via housingwire.com In 2018, the California Energy Commission unanimously voted for the mandatory implementation of solar panels on virtually every newly built home in California. And although many have praised the landmark decision, some fear it will put a larger financial strain on homeowners statewide.

FHA takes steps to streamline reverse mortgage underwriting

Feb 18, 2019 via housingwire.com The Federal Housing Administration has taken steps to streamline the cumbersome financial assessment process for lenders, recently releasing updated guidance that specifically approves the use of third-party verification - or TPV - to collect a borrower's financial information.

Looking to sell a home? Try this iBuyer marketplace to strike the best deal

Feb 18, 2019 via themortgagereports.com For the past few years, iBuyers like Opendoor, Offerpad and other similar platforms have been simplifying the sales process for homeowners across the country, offering easy, instant cash offers, without all the hassle and headache of the open market. Now, with the launch of a new online marketplace, sellers can do more than just utilize iBuyers to sell their homes; they can actually compare the offers of more than 100 iBuyers in one single place, too.

Are zero-energy homes the new wave in housing?

Feb 15, 2019 via housingwire.com Americans are making an effort to be more environmentally cautious, especially in the wake of natural disasters that have ravished local communities across the country. This is especially so for De Young Properties, which has set a precedent that could be responsible for bringing 100,000 zero-energy homes a year to California.

As housing markets around the nation weaken, Atlanta thrives

Feb 15, 2019 via housingwire.com While metros across the country weaken in the wake of a housing market slowdown, the city of Atlanta is thriving, according to new data from Redfin. Redfin CEO Glenn Kelman said Atlanta is probably the nation's hottest large housing market.

What's the Yield Curve and How Can It Help You Recession-Proof Your Investments?

Feb 15, 2019 via biggerpockets.com There are dozens of pieces of data that can be used to assess when an economic shift might occur. But one, specifically, has proven to be the most reliable over the past 60+ years. It's called the yield curve. Learn how it can be used to predict an impending recession--and why that's the case. View the full article: What’s the Yield Curve and How Can It Help You Recession-Proof Your Investments? on The BiggerPockets Blog. This content is Copyright (C) 2017 BiggerPockets, Inc. All Rights Reserved.

Why Do 2020 Presidential Candidates Want to Change Zoning?

Feb 15, 2019 via redfin.com In the second in a series of blog posts examining candidates' housing policies, Redfin chief economist Daryl Fairweather breaks down the zoning proposals put forward by Cory Booker, Elizabeth Warren, and Andrew Yang 2020 presidential candidates are advocating for changes to zoning laws as a way to combat the housing affordability crisis. Senator Cory Booker […] The post Why Do 2020 Presidential Candidates Want to Change Zoning? appeared first on Redfin Real-Time.

'Million Dollar Listing' agent Ryan Serhant: Buyers are 'freaking out' about Amazon ditching NYC

Feb 15, 2019 via cnbc.com "Amazon coming, I think, was a great thing," says Ryan Serhant. "All they wanted to do was bring jobs."

These are the best places to work for in the housing space

Feb 15, 2019 via housingwire.com Fortune Magazine and Great Place to Work have announced the winners of its 2019 Best Companies to Work For list, ranking the nation's best workplace environments for large companies, and several industry leaders in the mortgage and housing space made the list. See which companies made the cut here.

6 Questions About What It's Like to Sell Your Home to an I-Buyer

Feb 15, 2019 via redfin.com Former Marine Clarence Tinney has sold several homes. Find out why selling to RedfinNow was completely different.   As a former Marine, Clarence Tinney and his family had to relocate many times. As new assignments arrived, so did the mandate to move, which meant selling their home and buying a new one. "We've moved five […] The post 6 Questions About What It's Like to Sell Your Home to an I-Buyer appeared first on Redfin Real-Time.

Alphabet's Sidewalk Labs wants a cut of Toronto taxes to build a smart city there

Feb 15, 2019 via cnbc.com Alphabet's Sidewalk Labs reportedly proposed receiving a cut of property taxes, development fees and increased land value for its work in Toronto.

Atlanta Home Prices Up 4.8%, Outpacing National Growth

Feb 15, 2019 via redfin.com In Atlanta, price growth is stronger and homes are selling faster than they are in the U.S. overall, trends explained in part by the surge in people looking to move inland. Atlanta area home prices were up 4.8 percent annually to a median of $229,900 in January, marking nearly seven years of growing prices. While […] The post Atlanta Home Prices Up 4.8%, Outpacing National Growth appeared first on Redfin Real-Time.

Long Island City Housing Market Bound for More Growth With or Without Amazon

Feb 14, 2019 via redfin.com The New York City neighborhood was already popular among residents seeking less expensive alternatives to Manhattan, and the void left by Amazon may be filled by other opportunistic employers. In the years before Amazon announced it would add up to 25,000 jobs in the area, Long Island City had been establishing itself as a hot […] The post Long Island City Housing Market Bound for More Growth With or Without Amazon appeared first on Redfin Real-Time.

A 'sad day' for New York: Democratic congressman says Amazon backed out of HQ2 deal 'too quickly'

Feb 14, 2019 via cnbc.com "I wish Amazon had stuck it out a little bit longer, because in the long term I believe that this would have been a good deal for both," said Rep. Gregory Meeks, D-N.Y.

Amazon's Exit from New York Most Likely to be Felt By Early Long Island Investors

Feb 14, 2019 via zillow.com Amazon's announcement that it will not build a new headquarters in Long Island City is expected to impact not only the local housing market, but also D.C. and Nashville. The post Amazon's Exit from New York Most Likely to be Felt By Early Long Island Investors appeared first on Zillow Research.

CNBC: JPMorgan to launch first bank-backed cryptocurrency

Feb 14, 2019 via housingwire.com JPMorgan Chase is rolling out the first cryptocurrency backed by a U.S. financial institution, according to a new report by CNBC. JPM Coin will be a digital token used to settle transactions between clients of the bank's wholesale payments business.

Amazon pulls plug on New York HQ2

Feb 14, 2019 via housingwire.com The rumors are true - Amazon has officially canceled plans to build a headquarters in Long Island City, New York, after facing significant opposition from local politicians who protested tax breaks for one of the world's more powerful companies. Amazon announced Thursday that is has opted to withdraw its plans for a Queens headquarters, saying it will not launch a search for a new location. Click the headline to read more.

These were the most loved housing markets in 2018

Feb 14, 2019 via housingwire.com Valentine's Day is a day that honors love, and at HousingWire what we really love are healthy housing markets. Luckily, Zillow has compiled a list of some of the most loved neighborhoods of 2018, which range from upscale enclaves, popular vacation and retirement communities and more. Find out which neighborhoods were the most loved.

House hunters, hurry up! Mortgage rates have fallen to their lowest level in a year

Feb 14, 2019 via housingwire.com Mortgage rates fell to their lowest level since early 2018, according to the latest Freddie Mac Primary Mortgage Market Survey. Freddie Mac Chief Economist Sam Khater said the combination of cooling inflation and slower global economic growth contributed to this decline.

Freddie Mac reports net income of $8.6 billion in 2018

Feb 14, 2019 via housingwire.com After taking out market-related losses due to rising interest rates, Freddie Mac reported an income of $1.5 billion in the fourth quarter of 2018. For the full year, Freddie Mac reported $8.6 billion of comprehensive income, an increase of 55% from the year before.

First-time homebuyers: The central U.S. makes it easiest to buy a house

Feb 14, 2019 via themortgagereports.com Americans looking to buy a house -- and do so affordably -- might want to head to inward. According to a new ranking, Pittsburgh, Cleveland and Oklahoma City are the best cities for first-time homebuyers, boasting affordable entry-level homes, low down payment averages and not-so-stringent credit score standards.

For First Time in 5 Years, Buyers Have More Selection to Start the Year (January 2019 Market Report)

Feb 14, 2019 via zillow.com There were slightly more than 1.6 million U.S. homes listed for sale on Zillow in January, up 1.2 percent from a year ago and the first annual gain recorded in January since prior to 2014. The post For First Time in 5 Years, Buyers Have More Selection to Start the Year (January 2019 Market Report) appeared first on Zillow Research.

Fannie Mae reports net income of $16B in 2018

Feb 13, 2019 via housingwire.com Fannie Mae reported comprehensive income of $3.2 billion in the fourth quarter of 2018, bringing its yearly earnings to $15.6 billion in 2018. Although the fourth quarter's income is down from the third quarter's $4 billion, its much higher than the fourth quarter of 2017, when it saw a comprehensive income of $2.3 billion.

What is Zillow's Buyer-Seller Index, and How is it Computed?

Feb 13, 2019 via zillow.com The Zillow Buyer-Seller Index (BSI) is a measure of the balance between sellers and buyers in a given market. The post What is Zillow's Buyer-Seller Index, and How is it Computed? appeared first on Zillow Research.

What Is Zillow's Buyer-Seller Index, and How Is It Computed?

Feb 13, 2019 via zillow.com The Zillow Buyer-Seller Index (BSI) is a measure of the balance between sellers and buyers in a given market. The post What Is Zillow's Buyer-Seller Index, and How Is It Computed? appeared first on Zillow Research.

These markets are hotbeds for luxury real estate

Feb 13, 2019 via housingwire.com A new report by Coldwell Banker reveals where the country's wealthiest individuals are buying properties, listing the top 5 "power markets" for luxury real estate. Coldwell defines power markets as areas that offer the lifestyle amenities, education, and culture that the uber-rich seek out. Here are Coldwell's top five power markets for buyers and sellers, where you can find the greatest number of $1 million-plus homes sold.

Home renovation experts warily optimistic about 2019's market

Feb 13, 2019 via housingwire.com A lack of affordability has prevented many Americans from re-entering the housing market, leading to a surge in the home renovation market. However, in its 2019 home renovation forecast, Houzz explains that although the remodeling industry is likely to have another successful year, many experts are proceeding with caution.

Feeling the Winter Blues? Lust After These 13 Warm Weather Homes

Feb 13, 2019 via redfin.com If it's below freezing where you live–or even if it's not–these warm weather addresses are sure to raise your spirits, if not your thermostat. From a $2.25M Hollywood mansion, to a $425K desert abode, every day can feel like vacation.   Vacation is sacred time. Most Americans only get so many days each year to take […] The post Feeling the Winter Blues? Lust After These 13 Warm Weather Homes appeared first on Redfin Real-Time.

Google will spend $13 billion on U.S. real estate in 2019, expanding into Nevada, Ohio and Texas

Feb 13, 2019 via cnbc.com Google will expand into Nevada, Ohio, Texas and Nebraska for the first time, adding new data centers in those states and offices elsewhere.

Moody's: Mortgage delinquencies are on the rise

Feb 13, 2019 via housingwire.com Loan delinquencies for household debt have remained consistent over the past year, but Moody's Investors Service predicts this is about the change. New residential mortgage delinquencies clocked in at 3.55% last quarter, up 15 basis points from last year, Moody's said, calling this trend consistent with its prediction that delinquencies are on the rise.

Pavaso appoints new SVP of business development

Feb 13, 2019 via housingwire.com Pavaso recently appointed Tim Anderson to the position of senior vice president of business development, where he will be responsible for developing products and strategies that drive the implementation of Pavaso's suite of digital products and services.

Dollar buyers are the big winners as prime London property tumbles

Feb 13, 2019 via cnbc.com Brexit fears are keeping international investors on edge.

More married homeowners are bringing in renters to cover housing costs -- especially in the West

Feb 13, 2019 via themortgagereports.com The number of married couples living with roommates has more than doubled since 1995. According to new data, nearly 280,000 married homeowners had renters on their properties last year. In the costly Western housing markets, the trend is growing even more.

Mortgage applications drop 3.7% as homebuyers pull back

Feb 13, 2019 via cnbc.com The lowest interest rates in nearly a year were apparently not enough incentive to juice mortgage demand.

MBA: Mortgage applications decline as economic uncertainty grows

Feb 13, 2019 via housingwire.com Mortgage applications fell even further for the week ending Feb. 8, 2019, according to the newest data from the Mortgage Bankers Association's weekly Mortgage Applications Survey. MBA Vice President of Economic and Industry Forecasting Joel Kan said application activity fell as renewed uncertainty about the domestic and global economy likely deterred potential homebuyers.

Housing Prices

Monthly 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: 269.20 (November 2018), MoM change: +0.38%, YoY change: +5.76%

Source: Federal Housing Finance Agency

List Prices

Median List Price Latest: $289,300 (January 2019), MoM change: +0.10%, YoY change: +7.35%

Average List Price Latest: $488,700 (January 2019), MoM change: +0.85%, YoY change: +4.16%

Source: Realtor.com

Median List Price Per Square Foot

Latest: $144 (January 2019), MoM change: +0.70%, YoY change: +7.46%

Source: Realtor.com

Mortgage Rates

30-Year Fixed-Rate Loans

Only includes single-family, non-jumbo loans. For the past several decades, more than half of consumers choose 30-year, fixed-rate mortgages.

Mortgage Effective Rate Latest: 5.10% (December 2018), MoM change: +0.59%, YoY change: +20.85%

Mortgage Contract Rate Latest: 4.98% (December 2018), MoM change: -0.20%, YoY change: +19.42%

Mortgage Initial Fees Latest: 1.17% (December 2018), MoM change: +13.59%, YoY change: -4.88%

Source: Federal Housing Finance Agency

Listings

Active and New Listings

Active Listings Latest: 1,312,073 (January 2019), MoM change: -6.33%, YoY change: +6.42%

New Listings Latest: 399,132 (January 2019), MoM change: +41.34%, YoY change: +8.13%

Source: Realtor.com

Median Days on Market

Latest: 87 (January 2019), MoM change: +8.75%, YoY change: -2.25%

Source: Realtor.com

Price Changes

Price Decreases Latest: 250,624 (January 2019), MoM change: +18.47%, YoY change: +24.77%

Price Increases Latest: 24,086 (January 2019), MoM change: +13.51%, YoY change: -9.90%

Source: Realtor.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: 101,000 (November 2018), MoM change: -10.30%, YoY change: +2.23%

Source: U.S. Census Bureau

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