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

Market Indexes for January 2019

House Price Index

+5.57% YoY

At 271.95 (+0.57% MoM)
Historical

List Price

+7.35% YoY

At $289,300 (+0.10% MoM)
Historical

List Price Per Sqft

+7.46% YoY

At $144 (+0.70% MoM)
Historical

30yr-Fixed Mortgage

+15.29% YoY

At 4.90% (-3.92% MoM)
Historical

Active Listings

+6.42% YoY

At 1,312,073 (-6.33% MoM)
Historical

New Listings

+8.13% YoY

At 399,132 (+41.34% MoM)
Historical

Days on Market

-2.25% YoY

At 87 (+8.75% MoM)
Historical

New Construction

-2.38% YoY

At 94,400 (-1.05% MoM)
Historical

Headlines

Home repair subscription service Super raises $20 million

Apr 19, 2019 via housingwire.com Super, a home repair subscription service, announced recently that it raised $20 million to expand its service into new markets. Homeowners subscribe to the service, which both covers the cost of repairs on several common household appliances and manages the repair process on other items.

Why aren't more people tapping into their home equity?

Apr 19, 2019 via housingwire.com Homeowners have a nice stockpile of pent-up wealth in their homes and home prices continue to appreciate. And, it seems that every quarter a new startup emerges promising to disrupt the home equity space by giving homeowners a better, faster, cheaper or even debt-free way to tap into the wealth in their homes. And yet, so many Americans appear to be reluctant to take this route. What gives? We talked to a number of experts for their take.

Lasagna Gardening: A Backyard Guide for Beginners

Apr 19, 2019 via redfin.com Looking to cook up your own lasagna garden? Okay, maybe there's no cooking involved (at least not until harvest time), but lasagna gardening has become an increasingly popular no-till, or no digging, gardening technique that uses layers of compostable materials, including kitchen scraps, cardboard, coffee grounds, as well as numerous other materials to grow vegetables. […] The post Lasagna Gardening: A Backyard Guide for Beginners appeared first on Redfin Real-Time.

Expert: Workforce housing segment could soften in 2019

Apr 19, 2019 via housingwire.com Lenders saw a negative profit margin twice in 2018, even hitting an all-time low in the fourth quarter, and the hurdles are far from over going into 2019. Lenders should stay focused on more value-added products, according to Beth O'Brien, CoreVest Finance president and CEO and 2018 HousingWire Women of Influence winner.

Which Listing Features Could Help Your House Sell for More?

Apr 19, 2019 via zillow.com The features you choose to highlight in your for-sale listing can have a big impact on how fast your home sells and for how much. Here's a roundup of how much more homes sold for when their listings mentioned certain features. The post Which Listing Features Could Help Your House Sell for More? appeared first on Zillow Research.

March Housing Starts: Still No Momentum

Apr 19, 2019 via zillow.com The lackluster March report is a surprise, with housing starts still not regaining the momentum expected from lower interest rates, a strong labor market and other bullish economic signals. The post March Housing Starts: Still No Momentum appeared first on Zillow Research.

LoanLogics names new CEO

Apr 18, 2019 via housingwire.com LoanLogics has announced that its president and COO, Bill Neville, will take over the role of CEO from Brian Fitzpatrick. LoanLogics Founder and Chairman Howard Conyack Jr. said Neville's leadership will help drive the company's technology development and innovation.

Support a Healthier Planet with These 8 Environmentally Friendly Home Features

Apr 18, 2019 via redfin.com In honor of Earth Day, we've rounded up the best environmentally friendly home improvements that will positively impact the health of your home, and the planet.   On April 22 we celebrate Earth Day, to raise awareness for environmentally friendly measures to help preserve the planet we call home. We think that action should begin […] The post Support a Healthier Planet with These 8 Environmentally Friendly Home Features appeared first on Redfin Real-Time.

HUD seeks to end public housing aid for undocumented immigrants

Apr 18, 2019 via housingwire.com The Department of Housing and Urban Development proposed a rule to Wednesday that would end public housing aid for undocumented immigrants. An administration official told The New York Times that the rule would ensure that only American citizens receive housing assistance from HUD, putting an end to a loophole that did not require some aid recipients to prove citizenship.

Study: Same-sex couples much more likely to be denied a mortgage

Apr 18, 2019 via housingwire.com Mortgage lenders may be discriminating against borrowers based on sexual orientation. This is according to a study from Iowa State University, which analyzed 30 million mortgages originated from 1990 to 2015 and found that same-sex couples are 73% more likely to be denied a loan than male-female couples, and that they typically pay more.

Home flipping is up; here's where returns are highest

Apr 18, 2019 via themortgagereports.com Home flipping is once again a major force in the housing market. According to new data, it accounted for more than 10 percent of all home sales last quarter -- nearing all-time high levels.

Why Insulating a Garage Should Top Your Home Improvement List

Apr 17, 2019 via redfin.com A well-insulated garage can help extend the life of your vehicles and increase the value of your home. The post Why Insulating a Garage Should Top Your Home Improvement List appeared first on Redfin Real-Time.

Brittany Hodak to headline 2019 engage.marketing event

Apr 17, 2019 via housingwire.com HousingWire is excited to announce the keynote speaker for our 2019 engage.marketing event: award-winning entrepreneur and loyalty guru Brittany Hodak. Hodak is co-founder of The Superfan Company, an author of more than 350 articles on business and marketing, and a successful alum of Shark Tank.

Want to sell your home for more? Go green

Apr 17, 2019 via housingwire.com Going green pays, especially if you're trying to sell your home, according to a recent Zillow analysis. The study found that homes with solar energy systems sold for 4.1% more on average than their counterparts in 2018.

Ditech says its reverse mortgage business is unprofitable

Apr 17, 2019 via housingwire.com Aware that sweeping regulatory changes would likely send the reverse mortgage business into a tailspin, Ditech - then named Walter Investment Management - shut down the HECM origination channel of its subsidiary, Reverse Mortgage Solutions, in 2017. But the company has continued to service reverse mortgages, and it's not going well. According to a report filed Tuesday with SEC, Ditech's reverse mortgage business is operating at a sizable loss - and this trend isn't likely to turn around anytime soon

Retirees are flocking to these 3 states -- and fleeing these 3 states in droves

Apr 17, 2019 via cnbc.com New Mexico has the top honor of being the number one retirement destination, according to a study from United Van Lines. Here's what you should know before you leave your state for a new locale.

The end of an era: Ellie Mae's golden stock stops trading on NYSE

Apr 17, 2019 via housingwire.com In April 2011, Ellie Mae's IPO launched at $6 per share. Yesterday, the stock closed at nearly $100 per share. Now, the good times are over, as Ellie Mae is now being removed from the NYSE.

MBA: American home purchase activity reaches 9-year high

Apr 17, 2019 via housingwire.com Primarily driven by a decline in refinances, the Mortgage Bankers Association revealed mortgage applications fell further for the week ending April 12, 2019. MBA Vice President of Economic and Industry Forecasting Joel Kan said with mortgage rates up for the second week in a row, it's no surprise that refis slid 8% and average loan sizes dropped back closer to normal levels.

Here's how to win the HousingWire Women of Influence award

Apr 17, 2019 via housingwire.com It's that time of year again - the time when we celebrate how women have changed the housing industry, paved a path for those who came after them and continue to lead the industry. But before you nominate your candidate, take a look at the questions below for answers to frequently asked questions and a few tips on how to win the award.

Generation Z is serious about homeownership -- and already saving up for it

Apr 17, 2019 via themortgagereports.com It looks like Generation Z is coming at homeownership faster than Millennials have taken to it. Though many Millennials aren't buying homes until their 30s, according to a new survey, more than half of Gen Zers plan to buy a home in the next five years -- when they're only 24 to 28.

Mortgage purchase applications hit highest level in 9 years

Apr 17, 2019 via cnbc.com Two weeks of rising rates are taking their toll on homeowners hoping to refinance, but homebuyers are not pulling back.

Russell Wilson Could Buy Every Home For Sale in West Bellevue, His Seattle-Area Neighborhood, With Record-Breaking NFL Contract

Apr 16, 2019 via redfin.com With his record-breaking contract, Seattle Seahawks quarterback Russell Wilson could buy every single home for sale in his Bellevue neighborhood. See what other places he could purchase. The post Russell Wilson Could Buy Every Home For Sale in West Bellevue, His Seattle-Area Neighborhood, With Record-Breaking NFL Contract appeared first on Redfin Real-Time.

CBRE names Leah Stearns CFO

Apr 16, 2019 via housingwire.com Commercial real estate giant CBRE announced that Leah Stearns will be joining the company as its next chief financial officer. Stearns is stepping into the role as the company's current CFO, James Groch, transitions his focus on responsibilities as the company's global group president and chief investment officer.

WTF is a reverse mortgage?

Apr 16, 2019 via housingwire.com Reverse mortgages may be the most misunderstood - and the most maligned - financial product out there. But for those who are certain they are simply a scam, shrug off your perceptions for a moment and consider this: Would the U.S. government really endorse a scam for the last 30 years? Not likely. While unforeseen problems with the loan have largely been resolved, the sour scent of foul play lingers. To clear the air, here is a list of facts curated specifically to address the questions of what, exactly, is a reverse mortgage.

Colony Bank buying PFB Mortgage

Apr 16, 2019 via housingwire.com Colony Bank, which operates 27 branches throughout Georgia, is set to grow its mortgage business, as the bank announced this week that it plans to acquire PFB Mortgage, the secondary market mortgage business of Planters First Bank. According to Colony Bank, PFB Mortgage originated more than $100 million in mortgages last year, and the bank expects the addition to help double its mortgage business in the future.

No-income, no-asset mortgages are back (at one lender, at least)

Apr 16, 2019 via housingwire.com Back in the Wild, Wild West era of mortgage lending before the housing crisis, NINJA loans (loans given to borrowers with no income, no job, and no assets required) became quite the rage. NINJA loans have disappeared from the market, likely never to be seen again, but one lender is about to bring back a similar ghost of the mortgage market's past: the NINA loan.

Redfin: West Coast homebuyers are winning the bidding wars

Apr 16, 2019 via housingwire.com As lackluster home sales push inventory growth in the nation's housing markets, new data from Redfin suggests purchasing competition has begun to ease in nearly every metro across the country. This is especially so for the West Coast, which saw the biggest year-over-year increases in first-offer success rates.

Ben Carson's senior advisor leaves HUD for FHFA

Apr 16, 2019 via housingwire.com Adolfo Marzol, senior advisor to the Department of Housing and Urban and Development Secretary Ben Carson, has left the agency for a new gig in housing finance. The Federal Housing Finance Agency announced Tuesday that Marzol has already assumed the role of principal deputy director, reporting to the agency's new director, Mark Calabria, who was sworn in Monday.

Homebuilder sentiment inches higher, but affordability is still a problem

Apr 16, 2019 via cnbc.com Builder confidence rose 1 point to 63 in April on the monthly National Association of Home Builders/Wells Fargo Housing Market Index.

NAHB says homebuilders were more optimistic in April

Apr 16, 2019 via housingwire.com Homebuilder confidence in the market for new single-family homes rose in April as so-called buyer traffic increased to new developments. The index measuring current sales conditions rose to 69 points from 68, while buyer traffic jumped to 47 from 44. Expectations for the next six months fell to 71 from 72.

A drop in home prices? Here's where it's most likely

Apr 16, 2019 via themortgagereports.com If you're holding out hope that home prices will start to decline, you might be in luck. According to new data, the chance of dropping prices is up -- especially in the high-cost markets on the West Coast.

Homes With Solar Panels Sell for 4.1% More

Apr 16, 2019 via zillow.com Nationally, homes with solar-energy systems sold for 4.1% more on average than comparable homes without solar power. For the median-valued home, that translates to an additional $9,274. The post Homes With Solar Panels Sell for 4.1% More appeared first on Zillow Research.

West Coast Buyers are Now More Likely to Win the 1st Home They Bid On

Apr 15, 2019 via redfin.com San Jose, Seattle and San Diego saw big year-over-year gains in the share of homebuyers' winning the first home they make an offer on. Another sign that the housing market is shifting toward buyers' favor in 2019: 56 percent of buyers nationwide who purchased a home in the first quarter closed on the very first […] The post West Coast Buyers are Now More Likely to Win the 1st Home They Bid On appeared first on Redfin Real-Time.

Tim Gillis joins ServiceLink as VP of capital market sales

Apr 15, 2019 via housingwire.com ServiceLink announced it has brought on Tim Gillis to serve as the company's new vice president of capital market sales. "We're thrilled to have Tim on our team. His extensive contacts and knowledge within the Capital Markets and Single-Family Rental space add additional depth to our Default Sales team," said Miriam Moore, ServiceLink's division president, default services.

Zillow begins buying and selling homes in Dallas

Apr 15, 2019 via housingwire.com Homeowners in the Dallas/Fort Worth area can now bypass the traditional real estate process and sell their house directly to Zillow, as the online real estate giant announced Monday that it is expanding its direct buying program to DFW.

David Stevens abruptly resigns from Radian's board of directors

Apr 15, 2019 via housingwire.com Just last month Radian announced that David Stevens, the former head of the Federal Housing Administration and the Mortgage Bankers Association, would be joining its board of directors. But now, just three weeks later, Stevens is out for reasons unknown.

More countries promote reverse mortgage-like programs

Apr 15, 2019 via housingwire.com Reverse mortgages are finding some traction abroad as more countries adopt and tweak equity-release programs designed to allow seniors to access their home's equity. Recently, the tiny Mediterranean island of Malta announced the pending launch of an equity-release program for retirees, while Hong Kong announced changes to its program to allow borrowers to relocate without defaulting. These developments highlight the fact that policymakers across cultures recognize the potential solution equity access presents as the global population continues to age.

Expert: Moving too quickly on tech adoption could be a mistake

Apr 15, 2019 via housingwire.com Lenders that move too quickly on adopting the latest technology could be making a mistake, and putting their mortgage business at risk. Lenders should be careful not to move too fast and create unforeseen errors, according to Sadie Gurley, Digital Risk head of diligence services and 2018 HousingWire Women of Influence winner.

The HGTV effect: 60% of home shoppers are willing to renovate

Apr 15, 2019 via housingwire.com About 60% of people looking to buy a home are willing to consider a property that needs renovating as rising prices make it harder to afford a turnkey listing, according to Realtor.com. Most of them were inspired to take on the projects by watching TV home renovation shows on networks like HGTV, according to the report.

Living near a marijuana dispensary could mean higher home values, study shows

Apr 15, 2019 via themortgagereports.com Want a home that improves in value? Then you might want to buy near a legal marijuana dispensary. According to new data, dispensaries can boost home values by $22,000 or more.

2018 taxes for homeowners: How 2018 tax law changes affect you

Apr 15, 2019 via themortgagereports.com The latest tax law changes may catch homeowners off guard when filing their 2018 returns. Here is what you need to know about 2018 taxes for homeowners.

The 8 Most Important Questions to Ask Before Hiring Any Moving Company

Apr 12, 2019 via redfin.com Insider tips on how to spot red flags, key questions to ask, and how to score a deal when looking to hire a moving company.   If there's one thing everyone can agree on, it's that moving is stressful, no matter the circumstances. Fortunately, there are ways to ease the burden. Hiring movers helps, whether […] The post The 8 Most Important Questions to Ask Before Hiring Any Moving Company appeared first on Redfin Real-Time.

Buy a house in your 20s with these flexible mortgages

Apr 12, 2019 via themortgagereports.com The emerging generation is as much interested in home buying as any generation before. Fueling the enthusiasm is a new menu of affordable mortgage programs.

Priced Out of Moving Up in 2018? This Spring, the Same Monthly Budget Can Buy $25,000+ More House

Apr 11, 2019 via redfin.com Move-up buyers can afford to buy a $26,000 more expensive home in the Seattle area than they could last year thanks to falling interest rates and stalling home prices. Last October when mortgage rates were at 4.75 percent--up nearly a full point from a year earlier--we shared a version of the chart below to demonstrate […] The post Priced Out of Moving Up in 2018? This Spring, the Same Monthly Budget Can Buy $25,000+ More House appeared first on Redfin Real-Time.

California plan aims to slash state's child poverty rate in half by 2039

Apr 11, 2019 via cnbc.com A bill pending in the California Legislature sets an ambitious goal of cutting the state's child poverty rate in half by 2039 and also eliminating the number of kids in "deep poverty" by 2024.

The Average San Francisco Homebuyer Has a Budget of About $1.7 Million, and It's Holding Steady as Sale Prices Decline

Apr 11, 2019 via redfin.com The average home sale price in San Francisco has been falling for three quarters, but the average budget for Redfin users is holding steady--the dichotomy could signal that prices will go back up. The post The Average San Francisco Homebuyer Has a Budget of About $1.7 Million, and It's Holding Steady as Sale Prices Decline appeared first on Redfin Real-Time.

Want low property taxes? Then head to these lower-cost cities

Apr 11, 2019 via themortgagereports.com Properties taxes increased by 4 percent nationwide last year, but the upward trend wasn't unilateral. In fact, according to new data, some cities saw property tax rates as low as 0.35 percent last year.

China developer Soho wins 'feng shui' lawsuit against blog who claimed its property was unlucky

Apr 11, 2019 via cnbc.com A Chinese court ruled that a blog operator must apologize and pay nearly $30,000 to real estate developer Soho China for reputational damage.

Detroit, Indianapolis and Buffalo Among the Least Disaster-Prone and Most Affordable Places to Live

Apr 11, 2019 via redfin.com Nine of the 10 least hazardous metro areas have median home prices below the $287,400 national median. When you're buying a house or moving to a new town, it's important to consider the potential risks you, your family and your home are likely to face in your new location. In many cases, the hazards you'll […] The post Detroit, Indianapolis and Buffalo Among the Least Disaster-Prone and Most Affordable Places to Live appeared first on Redfin Real-Time.

Mortgage Rates Inch Lower as Reports Show Inflation Staying in Check

Apr 10, 2019 via zillow.com Mortgage rates drifted slightly lower this week, held in check by price growth that remains below the target set by the Federal Reserve. The post Mortgage Rates Inch Lower as Reports Show Inflation Staying in Check appeared first on Zillow Research.

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: 271.95 (January 2019), MoM change: +0.57%, YoY change: +5.57%

Source: Federal Housing Finance Agency

List Prices

Median List Price Latest: $300,000 (March 2019), MoM change: +1.76%, YoY change: +7.18%

Average List Price Latest: $509,000 (March 2019), MoM change: +2.46%, YoY change: +4.93%

Source: Realtor.com

Median List Price Per Square Foot

Latest: $149 (March 2019), MoM change: +2.05%, YoY change: +7.97%

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: 4.77% (February 2019), MoM change: -2.65%, YoY change: +6.95%

Mortgage Contract Rate Latest: 4.67% (February 2019), MoM change: -2.30%, YoY change: +7.11%

Mortgage Initial Fees Latest: 1.13% (February 2019), MoM change: -4.24%, YoY change: -1.74%

Source: Federal Housing Finance Agency

Listings

Active and New Listings

Active Listings Latest: 1,349,597 (March 2019), MoM change: +1.76%, YoY change: +4.36%

New Listings Latest: 477,740 (March 2019), MoM change: +18.10%, YoY change: -0.43%

Source: Realtor.com

Median Days on Market

Latest: 65 (March 2019), MoM change: -21.69%, YoY change: +3.17%

Source: Realtor.com

Price Changes

Price Decreases Latest: 270,060 (March 2019), MoM change: +8.82%, YoY change: +13.74%

Price Increases Latest: 27,644 (March 2019), MoM change: +7.13%, YoY change: -7.70%

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: 103,900 (March 2019), MoM change: +15.83%, YoY change: -11.65%

Source: U.S. Census Bureau

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