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

-11.11% YoY

At 3.20 (+18.52% MoM)
Historical

New Listings

-0.44% YoY

At 310,435 (-7.87% MoM)
Historical

Homes For Sale

-7.04% YoY

At 848,911 (-1.57% MoM)
Historical

New Construction

+14.44% YoY

At 114,900 (-10.09% MoM)
Historical

Home Sales

+6.94% YoY

At 268,491 (-15.43% MoM)
Historical

Sale Price

+4.75% YoY

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

Sale Price Per Sqft

+1.68% YoY

At $182 (+3.41% MoM)
Historical

30yr-Fixed Mortgage

-22.03% YoY

At 3.61% (-0.28% MoM)
Historical

Headlines

Congressional vote on "de facto QM Patch" postponed

Nov 15, 2019 via housingwire.com The House Financial Services Committee postponed a vote on H.R. 2445 on Wednesday, a bill that would fix the so-called QM Patch that's set to expire in early 2021. The post Congressional vote on "de facto QM Patch" postponed appeared first on HousingWire.

Guaranteed Rate Affinity brings back Jon Altizer

Nov 15, 2019 via housingwire.com Altizer has previously worked at Guaranteed Rate for nine years. The post Guaranteed Rate Affinity brings back Jon Altizer appeared first on HousingWire.

Starter homes may be making a comeback

Nov 15, 2019 via housingwire.com Economists at Capital Economics are anticipating a rise in new homes sold for under $300,000, from under 50% currently to about 55% by the end of 2020. The post Starter homes may be making a comeback appeared first on HousingWire.

Multifamily rents gain 3.2%

Nov 15, 2019 via housingwire.com Multifamily rent increased by just $1, to $1,476 last month. Year over year rent growth remained at 3.2%. The post Multifamily rents gain 3.2% appeared first on HousingWire.

AOC and Bernie Sanders reveal green housing plan

Nov 15, 2019 via housingwire.com This bill promises $180 billion over 10 years to cut carbon dioxide emissions from public housing across the country. The post AOC and Bernie Sanders reveal green housing plan appeared first on HousingWire.

Minority homeownership gains on low mortgage rates

Nov 15, 2019 via housingwire.com Low mortgage rates are helping to boost homeownership for black and Hispanic Americans, the National Association of Home Builders said. The post Minority homeownership gains on low mortgage rates appeared first on HousingWire.

Keller Williams to expand its iBuyer program

Nov 15, 2019 via housingwire.com Back in April, Keller Williams announced it would begin buying and selling houses. Now it's expanding that program. Now, Keller Williams announced it will launch its iBuyer program in Birmingham, Alabama, through its partnership with Offerpad early in the first quarter of 2020. The post Keller Williams to expand its iBuyer program appeared first on HousingWire.

If There's a Recession, Will the Housing Market Crash?

Nov 15, 2019 via redfin.com Chief economist, Daryl Fairweather, provides answers to frequently asked questions about how a recession could impact housing. The post If There's a Recession, Will the Housing Market Crash? appeared first on Redfin Blog.

Renting out a room? Here are the most common regrets

Nov 14, 2019 via themortgagereports.com Thinking of renting out a room for extra cash? Then vet your tenants carefully. Homeowners are evicting renters more often than you think.

U.S. Bank names new corporate controller

Nov 14, 2019 via housingwire.com U.S. Bank announced on Thursday that Lisa Stark will take on the role of corporate controller. She has been with the company since 2008. The post U.S. Bank names new corporate controller appeared first on HousingWire.

Going up: More residential skyscrapers being built

Nov 14, 2019 via housingwire.com More developers are building up instead of out, a new report from RentCafe says. Since 2010, mid-rise and high-rise construction gained in popularity. The post Going up: More residential skyscrapers being built appeared first on HousingWire.

Veteran homelessness drops 2% in 2019

Nov 14, 2019 via housingwire.com This year there are 793 more veterans with a roof over their heads, according to the Annual Homeless Assessment Report from the U.S. Department of Housing and Urban Development. The report showed that in 2019, the number of veterans experiencing homelessness dropped by 2.1%. The post Veteran homelessness drops 2% in 2019 appeared first on HousingWire.

Mortgage delinquencies fall to 25-year low

Nov 14, 2019 via housingwire.com The share of U.S. homeowners who were late paying mortgages fell to an almost 25-year low in the third quarter, according to the Mortgage Bankers Association. The post Mortgage delinquencies fall to 25-year low appeared first on HousingWire.

An end to Fannie, Freddie conservatorship by 2022?

Nov 14, 2019 via housingwire.com Fannie Mae and Freddie Mac are on the path to exit conservatorship, a step that could come as soon as 2022. Federal Housing Finance Agency Director Mark Calabria is actively preparing the GSEs to exit conservatorship. Now that could come as soon as 2022 or even 2021. The post An end to Fannie, Freddie conservatorship by 2022? appeared first on HousingWire.

Here are the best locations to have an investment property

Nov 14, 2019 via housingwire.com The ideal locations for investment properties are located in the Northeast region of the U.S., a new report from TurboTenant says. The post Here are the best locations to have an investment property appeared first on HousingWire.

FHA capital level is the highest since 2007

Nov 14, 2019 via housingwire.com The Federal Housing Administration's flagship Mutual Mortgage Insurance Fund is in the best condition since before the financial crisis, with capital levels at the highest level since 2007. The post FHA capital level is the highest since 2007 appeared first on HousingWire.

Sanders and Ocasio-Cortez unveil $180 billion 'Green New Deal' for public housing

Nov 14, 2019 via cnbc.com The bill is the latest effort by the Democrats to bring Green New Deal policies into housing policy. It would retrofit 1 million units of federally owned housing.

Facebook is moving into more than 1.5 million square feet of office space in New York's Hudson Yards

Nov 14, 2019 via cnbc.com Facebook plans to start moving into the new offices in 2020.

New-Home Sales Up 5.6% in the Third Quarter

Nov 14, 2019 via redfin.com New-home sales are up 5.6% year over year, prices are down 1.5% and supply is down nearly 8%. The post New-Home Sales Up 5.6% in the Third Quarter appeared first on Redfin Blog.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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: 3.69% (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: 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: 114,900 (September 2019), MoM change: -10.09%, YoY change: +14.44%

Source: U.S. Census Bureau

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