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

Market Indexes for October 2019

Months Supply

-11.76% YoY

At 3 (-6.25% MoM)
Historical

New Listings

-5.18% YoY

At 299,707 (-3.46% MoM)
Historical

Homes For Sale

-9.09% YoY

At 818,247 (-3.61% MoM)
Historical

New Construction

+15.63% YoY

At 131,700 (+14.62% MoM)
Historical

Home Sales

+1.00% YoY

At 269,239 (+0.28% MoM)
Historical

Sale Price

+5.39% YoY

At $313,000 (+1.29% MoM)
Historical

Sale Price Per Sqft

+1.71% YoY

At $178 (-2.20% MoM)
Historical

30yr-Fixed Mortgage

-23.60% YoY

At 3.69% (+2.22% MoM)
Historical

Headlines

HousingWire is growing. Come join us

Dec 6, 2019 via housingwire.com 2019 has been a year of tremendous audience and product growth for HousingWire and we couldn't be prouder. But we're not ready to rest on our laurels. Far from it. In fact, 2020 promises to be an even bigger year for HousingWire. The post HousingWire is growing. Come join us appeared first on HousingWire.

Are iBuyers ripping off sellers?

Dec 6, 2019 via housingwire.com Selling to an iBuyer means never having to worry about prepping for an open house. But are sellers leaving money on the table? The post Are iBuyers ripping off sellers? appeared first on HousingWire.

Home-flipping startup Curbio expands to Boston

Dec 6, 2019 via housingwire.com The company announced this week it is expanding to Boston, adding to its already lengthy list of metros it serves. The post Home-flipping startup Curbio expands to Boston appeared first on HousingWire.

Mapping America's Metropolitan Growth: Islands of Density in a Sea of No Growth

Dec 6, 2019 via zillow.com There are currently almost 140 million homes in the United States, and analyzing where, when and how they were built tells a vivid story of America's metropolitan growth. The post Mapping America's Metropolitan Growth: Islands of Density in a Sea of No Growth appeared first on Zillow Research.

A Modest Proposal: How Even Minimal Densification Could Yield Millions of New Homes

Dec 6, 2019 via zillow.com Across 17 metro areas analyzed, allowing 10% of single-family lots to house two units instead of one could yield almost 3.3 million additional housing units. The post A Modest Proposal: How Even Minimal Densification Could Yield Millions of New Homes appeared first on Zillow Research.

Homebuilders aren't keeping up with millennials

Dec 6, 2019 via cnbc.com Millennials are expected to be the largest single cohort of homebuyers next year, but the nation's homebuilders are not keeping up.

HUD dedicates $10 million to affordable housing

Dec 6, 2019 via housingwire.com The U.S. Department of Housing and Urban Development announced it will invest $10 million to develop 538 affordable homes. The post HUD dedicates $10 million to affordable housing appeared first on HousingWire.

U.S. unemployment rate falls to 50-year low

Dec 6, 2019 via housingwire.com The U.S. unemployment rate fell to another 50-year low in November, according to the Bureau of Labor Statistics. The post U.S. unemployment rate falls to 50-year low appeared first on HousingWire.

When it comes to their home, Millennials are picky

Dec 5, 2019 via housingwire.com According to a new data set from the National Association of Home Builders, Millennials care just as much (if not more) about they want in a house rather than what they need. The post When it comes to their home, Millennials are picky appeared first on HousingWire.

Mortgage Tech Rundown: Openly, roOmy, and Wolters Kluwer

Dec 5, 2019 via housingwire.com This week's Mortgage Tech Rundown focuses on the latest product and software developments, integrations and more from companies like Openly, roOmy, and Wolters Kluwer. The post Mortgage Tech Rundown: Openly, roOmy, and Wolters Kluwer appeared first on HousingWire.

Mortgage credit eases in November, MBA says

Dec 5, 2019 via housingwire.com It became easier to get a mortgage in November, according to data published Thursday by Mortgage Bankers Association. The post Mortgage credit eases in November, MBA says appeared first on HousingWire.

What Are These Black Stains on the Walls? Understanding Ghosting on Walls vs. Mold

Dec 5, 2019 via redfin.com If you've noticed stains on the walls that seem to follow the framing of the house, don't worry, they might not necessarily be mold. The problem is called "ghosting" or "thermal bridging," and here's how to recognize and repair it. The post What Are These Black Stains on the Walls? Understanding Ghosting on Walls vs. Mold appeared first on Redfin Blog.

FHA reverse mortgage limit set to rise in 2020

Dec 5, 2019 via housingwire.com Just as it did with forward mortgages, the Federal Housing Administration is increasing its maximum claim amount for reverse mortgages for 2020. The post FHA reverse mortgage limit set to rise in 2020 appeared first on HousingWire.

FHA loan limits increasing for almost all of U.S. in 2020

Dec 5, 2019 via housingwire.com Thanks to increases in home prices in 2019, the Federal Housing Administration loan limit will increase for nearly all of the country in 2020. The post FHA loan limits increasing for almost all of U.S. in 2020 appeared first on HousingWire.

Multifamily delinquencies remain at record lows in Q3

Dec 5, 2019 via housingwire.com Delinquency rates are at or near record lows for nearly every capital source in the third quarter, with the rate for commercial mortgages held by banks at its lowest since the inception of the series 25 years ago. The post Multifamily delinquencies remain at record lows in Q3 appeared first on HousingWire.

Zumper: U.S. rent price growth slows in December

Dec 4, 2019 via housingwire.com It now costs the typical renter a median of $1,230 and $1,465 to rent the average one- and two-bedroom units, Zumper said in its National Rent Report. While this is a decline from the previous month, it equates to an annual increase of 1.8% and 1.7%, respectively. The post Zumper: U.S. rent price growth slows in December appeared first on HousingWire.

Essential Home Safety Tips for the Holiday Season

Dec 4, 2019 via redfin.com The holidays can be a magical time, as long as you stay safe during them. Keep these home safety tips in mind this winter as you enjoy the festivities. The post Essential Home Safety Tips for the Holiday Season appeared first on Redfin Blog.

U.S. home prices heated up in October thanks to low rates

Dec 4, 2019 via housingwire.com Early September's three-year low in mortgage rates caused home prices to heat up in October, according to Black Knight. The post U.S. home prices heated up in October thanks to low rates appeared first on HousingWire.

Expert: 2020's housing market will look a lot like 2019

Dec 4, 2019 via housingwire.com To get a feel for what's coming next for housing, HousingWire sat down this week with Morty Co-Founder & CTO Adam Rothblatt to discuss iBuyers, what will happen with mortgage rates, and more about what's coming in 2020. The post Expert: 2020's housing market will look a lot like 2019 appeared first on HousingWire.

Millennial refinances hit new high in October

Dec 4, 2019 via housingwire.com The share of refinances closed by Millennials increased in October to an all new high, according to the latest Ellie Mae Millennial Tracker report. Ellie Mae explained that heading into 2020, lenders should proactively reach out to prospective Millennial homebuyers. The post Millennial refinances hit new high in October appeared first on HousingWire.

Steve Case: The 230 cities that lost HQ2 'perhaps can create the next Amazon'

Dec 4, 2019 via cnbc.com According to AOL co-founder Steve Case, the 230 cities that lost out learned they can jump-start their economies by developing start-up ecosystems.

Millennial areas lag in new construction growth

Dec 4, 2019 via housingwire.com Construction is strongest in Millennial areas, but growth in these areas has begun to lag, according to a report from the National Association of Home Builders. And there have been two consecutive quarters of declines in the second and third quarter this year for single-family construction in these areas. The post Millennial areas lag in new construction growth appeared first on HousingWire.

Employers put the brakes on hiring

Dec 4, 2019 via housingwire.com Private sector employment increased by only 67,000 jobs, dropping 45% from the prior month's pace, according to the jobs report issued on Wednesday. The post Employers put the brakes on hiring appeared first on HousingWire.

M&G suspends UK's biggest commercial property fund

Dec 4, 2019 via cnbc.com Investors have been unable to withdraw cash from midday Wednesday.

Redfin Unveils the Best Canadian Cities for Biking

Dec 4, 2019 via redfin.com Victoria, Vancouver and Montreal top Redfin's first-ever ranking of bikeable cities in Canada. The post Redfin Unveils the Best Canadian Cities for Biking appeared first on Redfin Blog.

Redfin Unveils the Best U.S. Cities for Biking in 2020

Dec 4, 2019 via redfin.com Minneapolis tops the list--check out the other most bike-friendly cities in the U.S. The post Redfin Unveils the Best U.S. Cities for Biking in 2020 appeared first on Redfin Blog.

Affordable housing: These cities take the smallest salaries to buy a house

Dec 4, 2019 via themortgagereports.com Want to buy a house without breaking the bank? Then head to Oklahoma City.

MBA: Mortgage applications fall as refinance market cools

Dec 4, 2019 via housingwire.com As refinance volume cooled last week, the Mortgage Bankers Association reports mortgage applications dropped by 9.2%. The MBA indicates this week's results include an adjustment for the Thanksgiving holiday. The post MBA: Mortgage applications fall as refinance market cools appeared first on HousingWire.

Weekly mortgage applications drop 9% as refinances pull back

Dec 4, 2019 via cnbc.com The combination of a holiday week and a stagnant mortgage rate environment kept borrowers away from their lenders last week.

Harsh housing forecast for 2020, especially in these big cities

Dec 4, 2019 via cnbc.com Home sales will drop, the housing shortage could become the worst in U.S. history, and in some major cities home values will shrink. That is the crux of the 2020 forecast from researchers at realtor.com.

Boomers likely to gridlock the housing market in 2020

Dec 4, 2019 via housingwire.com U.S. home sales will fall next year as Baby Boomers gridlock the housing market by aging in place, according to a forecast from realtor.com. The post Boomers likely to gridlock the housing market in 2020 appeared first on HousingWire.

MoxiWorks hires Zillow vet to business development team

Dec 3, 2019 via housingwire.com Real estate technology platform MoxiWorks announced the addition of Bret Calltharp to its business development team. Before joining MoxiWorks, Calltharp was Zillow Group's Industry Outreach Director. The post MoxiWorks hires Zillow vet to business development team appeared first on HousingWire.

Compass seeks arbitration to end Realogy lawsuit

Dec 3, 2019 via housingwire.com Real estate brokerage Compass wants to talk things out with Realogy, the largest U.S. brokerage, to bring their six-month legal war to an end. The post Compass seeks arbitration to end Realogy lawsuit appeared first on HousingWire.

Airbnb has removed thousands of listings in Boston as new rule takes effect

Dec 3, 2019 via cnbc.com Boston's crackdown on Airbnb listings comes amid a wave of similar laws proposed in cities around the world. Such regulations could put a dent in the business model of one of the last tech darlings of the decade that has yet to go public.

Hedge fund billionaire buys Florida mansion for $111 million, setting new state record

Dec 3, 2019 via cnbc.com The founder of New York-based hedge fund Schonfeld Strategic Advisors closed on the six acre-estate known as La Reverie Tuesday.

Fed considers raising inflation target, which could lead to higher interest rates

Dec 2, 2019 via housingwire.com The Federal Reserve is considering a policy change that could result in higher inflation and higher interest rates. The post Fed considers raising inflation target, which could lead to higher interest rates appeared first on HousingWire.

Amazon's HQ2 making waves in Washington-area housing

Dec 2, 2019 via housingwire.com With over a year in the rearview mirror, Realtor.com released a report recently on the effect the news of Amazon's HQ2 had on surrounding housing markets. The post Amazon’s HQ2 making waves in Washington-area housing appeared first on HousingWire.

Builders are coming to the housing market's rescue

Dec 2, 2019 via housingwire.com A housing market stymied by supply shortages will get relief next year from homebuilders, according to the National Association of Realtors. The post Builders are coming to the housing market's rescue appeared first on HousingWire.

U.S. construction spending declines 0.8% in October

Dec 2, 2019 via housingwire.com During the first ten months of 2019, U.S. construction spending amounted to $1.087 trillion, which is 1.7% below last year's rate of $1,105.2 billion, the Census Bureau said. Despite this decline, the organization reports October's construction spending was 1.1% above last year's rate. The post U.S. construction spending declines 0.8% in October appeared first on HousingWire.

More listings are coming; is this the answer to the housing inventory struggle?

Dec 2, 2019 via themortgagereports.com Thanks to what experts are dubbing "The Silver Tsunami," the country's housing inventory woes may soon come to an end.

The best Black Friday deals for appliances, tech, home improvement, and more

Nov 29, 2019 via themortgagereports.com It's Black Friday, and if you're looking to fix up or redecorate your house, there are dozens of discounts, specials, and day-only doorbusters to help.

Pending home sales fall 1.7% in October, as housing shortage worsens

Nov 27, 2019 via cnbc.com Demand for housing is high, but there aren't enough homes for sale to meet it. Pending home sales fell 1.7% in October month-to-month, according to the National Association of Realtors.

Refinancing makes up half of all mortgage activity; ARMs rise, too

Nov 27, 2019 via themortgagereports.com It's no secret that refinancing has surged in recent months. But according to new data, it's actually making up more than half of all closed mortgage loans.

Weekly mortgage refinance applications surge as rates remain below 4% for the second straight week

Nov 27, 2019 via cnbc.com Continued low mortgage rates are keeping bankers busy, as refinance applications continue to rise. Refinance volume helped push total mortgage application volume up 1.5% last week compared with the previous week.

Mortgage Rates Remain Steady -- For Now

Nov 26, 2019 via zillow.com Mortgage rates held mostly steady in the leadup to the long Thanksgiving weekend. The post Mortgage Rates Remain Steady -- For Now appeared first on Zillow Research.

Mortgage Rates Remain Steady -- For Now

Nov 26, 2019 via zillow.com Mortgage rates held mostly steady in the leadup to the long Thanksgiving weekend. The post Mortgage Rates Remain Steady -- For Now appeared first on Zillow Research.

Mortgage Rates Remain Steady -- For Now

Nov 26, 2019 via zillow.com Mortgage rates held mostly steady in the leadup to the long Thanksgiving weekend. The post Mortgage Rates Remain Steady -- For Now appeared first on Zillow Research.

September Case-Shiller Results and October Forecast: Steady as She Goes

Nov 26, 2019 via zillow.com The S&P CoreLogic Case-Shiller U.S. National Home Price Index(R) rose 3.2% year-over-year in September (non-seasonally adjusted), up from 3.1% in August. The post September Case-Shiller Results and October Forecast: Steady as She Goes appeared first on Zillow Research.

October New Home Sales: Reinforcing the Trend

Nov 26, 2019 via zillow.com October new home sales stood at 733,000 (SAAR), according the U.S. Census Bureau, down 0.7% from upwardly revised September numbers but up 31.6% from a year ago. The post October New Home Sales: Reinforcing the Trend appeared first on Zillow Research.

Home price gains accelerate in September, S&P Case-Shiller Index says

Nov 26, 2019 via cnbc.com On a national level, prices rose 3.2% annually in September, up from a 3.1% gain in August, according to the S&P CoreLogic Case-Shiller U.S. National Home Price Index.

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: $313,000 (October 2019), MoM change: +1.29%, YoY change: +5.39%

Source: Redfin.com

Sale Price Per Square Foot

Median Price Per Square Foot Latest: $178 (October 2019), MoM change: -2.20%, YoY change: +1.71%

Source: Redfin.com

Sale to List Price

Latest: 97.86% (October 2019), MoM change: +0.12%, YoY change: +0.17%

Source: Redfin.com

Sold Above List Price

Latest: 21.32% (October 2019), MoM change: -3.34%, YoY change: -0.61%

Source: Redfin.com

Price Changes

Price Drops Latest: 29.05% (October 2019), MoM change: +5.30%, YoY change: -2.30%

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: 3.70% (November 2019), MoM change: +0.27%, YoY change: -24.02%

Points Latest: 0.60% (November 2019), MoM change: 0.00%, YoY change: +20.00%

Source: Freddie Mac Primary Mortgage Market Survey (PMMS)

Listings

Active, New, and Sold Listings

Active Listings Latest: 818,247 (October 2019), MoM change: -3.61%, YoY change: -9.09%

New Listings Latest: 299,707 (October 2019), MoM change: -3.46%, YoY change: -5.18%

Home Sales Latest: 269,239 (October 2019), MoM change: +0.28%, YoY change: +1.00%

Source: Redfin.com

Months Supply

Latest: 3 (October 2019), MoM change: -6.25%, YoY change: -11.76%

Source: Redfin.com

Days on Market

Median Days On Market Latest: 44 (October 2019), MoM change: +4.76%, YoY change: 0.00%

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: 131,700 (October 2019), MoM change: +14.62%, YoY change: +15.63%

Source: U.S. Census Bureau

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