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

March New Home Sales: Back on Track

Apr 23, 2019 via zillow.com On the heels of a disappointing existing home sales report, the underlying fundamental strengths of the housing market came through clearly in March's new home sales figures. The post March New Home Sales: Back on Track appeared first on Zillow Research.

Falling mortgage rates propel 4.5% growth in new home sales

Apr 23, 2019 via housingwire.com In March, new home sales rose 4.5% from February's revised rate of 662,000, according to the latest report from the Census Bureau and the Department of Housing and Urban Development. Despite this growth, Navy Federal Credit Union Corporate Economist Robert Frick says there are still far too few homes being built.

US new home sales rise to near 1 1/2 -year high

Apr 23, 2019 via cnbc.com Sales of new U.S. single-family homes jumped to a near 1 1/2 -year high in March, boosted by lower mortgage rates and house prices.

FHFA: American home-price growth inches forward 0.3% in February

Apr 23, 2019 via housingwire.com Home prices crawled forward in February, rising only 0.3% from the previous month but up 4.9% from 2018, according to the latest monthly House Price Index from the Federal Housing Finance Agency.

Indiana claim's the nation's best cities for families

Apr 23, 2019 via themortgagereports.com Looking for a place to put down roots for your growing (or future) family? Apparently, Indiana is the place to do it. According to a new ranking, the state claims the nation's two best cities for families.

Home Value Cooling Is More About Changes in Demand Than Supply (March 2019 Market Report)

Apr 23, 2019 via zillow.com For the past four months, new for-sale inventory - the number of homes listed in a given month that were not on the market during the previous month - has fallen on an annual basis. The post Home Value Cooling Is More About Changes in Demand Than Supply (March 2019 Market Report) appeared first on Zillow Research.

Prices for mega-mansions in Miami Beach surge 61%

Apr 22, 2019 via housingwire.com The median price of a single-family home in the luxury segment of Miami Beach's real estate market soared 61% in the first quarter. "I explain it by saying: Americans from the northeast are the new foreign buyers in Miami Beach," said Jonathan Miller, president of Miller Samuel.

Capital Bank launches Capital Bank Home Loans

Apr 22, 2019 via housingwire.com Capital Bank, a Maryland-based bank that operates in and around the Washington, D.C., Northern Virginia, and Baltimore areas, is rebranding its mortgage business and launching Capital Bank Home Loans. Previously, the company's mortgage operation was called Church Street Mortgage.

Do Homes With Open Houses Sell for More Money?

Apr 22, 2019 via redfin.com Nationwide, homes with open houses sell for more and spend fewer days on the market than homes without open houses. See the metro areas where that's true, and where it's not. The post Do Homes With Open Houses Sell for More Money? appeared first on Redfin Real-Time.

Keller Williams to begin buying and selling houses

Apr 22, 2019 via housingwire.com Following in a path previously laid out by the likes of Zillow and Redfin, and taking a page out of the playbook of Opendoor, Offerpad, and others, Keller Williams is about to start buying and selling houses. Next month, Keller Williams will launch an iBuyer offering, which it is calling "Keller Offers."

Minneapolis, Chicago and Philadelphia Are the Most Affordable Sustainable Cities

Apr 22, 2019 via redfin.com Just Three of the Cities that Top the Ranks for Walkability, Bikeability, and Transit and Park Access Also Have Home Prices Below the National Median There are many ways that all of us as individuals can do our part for the environment. Limiting use of single-use plastics, recycling, and being mindful of things like energy […] The post Minneapolis, Chicago and Philadelphia Are the Most Affordable Sustainable Cities appeared first on Redfin Real-Time.

Expert: Here's how lenders can reach the Hispanic market

Apr 22, 2019 via housingwire.com Over the past 10 years, Hispanics counted for 62.7% of net U.S. homeownership gains - and that trend isn't expected to die down soon. There are several things that lenders can do in order to reach this expanding market, according to Marisa Calderon, National Association of Hispanic Real Estate Professionals executive director and 2018 HousingWire Women of Influence winner.

Sales of the cheapest and swankiest homes are tanking, but for very different reasons

Apr 22, 2019 via cnbc.com Sales of existing homes were weaker than expected in March, but behind the headline numbers, an even more disconcerting dynamic is playing out. Both the high end and the low end of the market are faring worst due to completely different factors.

Why Dense Housing is Green Housing

Apr 22, 2019 via redfin.com Redfin's chief economist argues that cities should encourage dense housing to reduce carbon emissions The way we tackle the housing affordability crisis will have a large impact on the environment. Currently, in the Los Angeles metro, a family earning the local median household income of $69,992 would have to live as far as 65 miles […] The post Why Dense Housing is Green Housing appeared first on Redfin Real-Time.

Home sales fall 4.9% in slow start to spring buying season

Apr 22, 2019 via cnbc.com Sales of existing U.S. homes fell in March after a huge gain the previous month, held back partly by a sharp slowdown among the most expensive properties.

March Existing Home Sales: Step Back, But Still Moving Forward

Apr 22, 2019 via zillow.com Existing home sales dropped 4.9% in March from February, to 5.21 million sales (SAAR), according to the National Association of Realtors. Sales were down 5.4% from a year ago. Inventory at the end of March was 1.68 million, up 3.1% from February and 2.4% from a year ago. The median (non-seasonally adjusted) price of existing... The post March Existing Home Sales: Step Back, But Still Moving Forward appeared first on Zillow Research.

Home Sales Surge in Florida as California Markets See Double-Digit Annual Declines in March

Apr 22, 2019 via redfin.com Home sales and prices fell year over year in San Francisco, San Jose and Orange County as housing activity surged in metros with lower home prices and tax burdens U.S. home-sale prices were essentially unchanged in March, ticking down by 0.1 percent from a year ago, to a median of $295,100 across the metros Redfin […] The post Home Sales Surge in Florida as California Markets See Double-Digit Annual Declines in March appeared first on Redfin Real-Time.

Homebuying power on the rise thanks to low rate and high incomes

Apr 22, 2019 via themortgagereports.com American homebuying power has reached its second-highest point in the last 20 years. According to a new analysis, the average buyer can now afford a home priced as high as $391,037.

Abu Dhabi's real estate investment law reforms are 'gaming changing,' developer says

Apr 21, 2019 via cnbc.com The relaxing of foreign real estate investment laws in Abu Dhabi will create jobs and stoke demand for property, according to Aldar Properties CEO Talal Al Dhiyebi.

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.

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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