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

Market Indexes for February 2019

House Price Index

+4.90% YoY

At 272.83 (+0.26% MoM)
Historical

List Price

+7.22% YoY

At $294,800 (+1.90% MoM)
Historical

List Price Per Sqft

+7.35% YoY

At $146 (+1.39% MoM)
Historical

30yr-Fixed Mortgage

+6.95% YoY

At 4.77% (-2.65% MoM)
Historical

Active Listings

+5.81% YoY

At 1,326,190 (+1.08% MoM)
Historical

New Listings

-4.09% YoY

At 404,514 (+1.35% MoM)
Historical

Days on Market

0.00% YoY

At 83 (-4.60% MoM)
Historical

New Construction

-2.61% YoY

At 89,700 (-4.98% MoM)
Historical

Headlines

Young Brits more likely to downsize homes than older generations, study says

May 24, 2019 via cnbc.com Young people in the U.K. are four times more likely to downsize their homes this year than those aged over 55, a new study found.

Millennials are Thriving--Personally and Professionally--in These Five Cities

May 24, 2019 via redfin.com Salt Lake City, Oklahoma City and Detroit Have among the Highest Rates of Millennial Homeownership and Business Ownership In many coastal metros, millennials have a hard time saving up enough money to own a home or start a business. But inland, where homes and costs of living are more affordable, millennials are able to lay […] The post Millennials are Thriving--Personally and Professionally--in These Five Cities appeared first on Redfin Real-Time.

Newly Listed Homes Get 3.4 Times More Online Views Than Those With a Price Drop

May 24, 2019 via redfin.com Homes get 3.4 times more online views the day they are listed than they do the day the seller drops the price. The post Newly Listed Homes Get 3.4 Times More Online Views Than Those With a Price Drop appeared first on Redfin Real-Time.

What Every Homebuyer Should Know Before Getting a Home Loan: What Type of Mortgage is Right for Me?

May 24, 2019 via redfin.com There is a range of mortgage choices available, so you have the ability to select the right one for you. The post What Every Homebuyer Should Know Before Getting a Home Loan: What Type of Mortgage is Right for Me? appeared first on Redfin Real-Time.

The iBuyer market is booming, and it's not slowing down anytime soon

May 24, 2019 via housingwire.com Some might say that so far, 2019 is looking to be the year of the iBuyer. The term has exploded across the internet as major companies like Redfin and Zillow expand their reach into the business of buying homes directly from sellers. Here's an up-close look at where these companies operate and where they're headed next.

Kushner Companies buys $1.1 billion in multifamily real estate

May 24, 2019 via housingwire.com Kushner Companies, the family real estate company of White House Senior Advisor Jared Kushner, is significantly expanding its multifamily portfolio thanks to the help of Berkadia Commercial Mortgage. This week, the real estate company closed on its $1.1 billion portfolio through financing provided from Warren Buffet's commercial lending company.

Tacoma, Washington is the Nation's Hottest Market With Half of Homes Selling Within 2 Weeks

May 24, 2019 via redfin.com Homes are selling in just 8 days in Tacoma, Washington, Seattle's neighbor to the south. Here's why Tacoma is the nation's hottest housing market. The post Tacoma, Washington is the Nation's Hottest Market With Half of Homes Selling Within 2 Weeks appeared first on Redfin Real-Time.

Freedom Mortgage to acquire RoundPoint Mortgage Servicing

May 24, 2019 via housingwire.com Freedom Mortgage and RoundPoint Mortgage Servicing are planning to merge, the companies announced Friday. The deal will make RoundPoint a wholly owned subsidiary of Freedom and boost its servicing portfolio to more than $300 billion. Click the headline to read more.

China is driving growth in Asia's real estate market despite trade war headwinds, report finds

May 24, 2019 via cnbc.com Despite a decline in global commercial real estate markets, Asia-Pacific continues to enjoy a record-breaking growth -- thanks to China, according to the Global Capital Flows report by JLL.

Mortgage rates fall sharply on China trade tensions

May 23, 2019 via cnbc.com Trade tensions with China may be a boon to the U.S. housing market. Investors are rushing into the relative safe-haven of the bond market, cause the yield on the U.S. 10-year Treasury to plummet. Mortgage rates loosely follow that yield.

Prime Mortgage Lending rebranding to GoPrime Mortgage

May 23, 2019 via housingwire.com Prime Mortgage Lending, a North Carolina-based mortgage company that is licensed in 30 states, will soon go by a new name. The company announced Thursday that it is rebranding and will adopt the name GoPrime Mortgage on June 1, 2019.

June 2019 mortgage rates forecast (FHA, VA, USDA, Conventional)

May 23, 2019 via themortgagereports.com Mortgage rates are dropping to new lows. June could provide some of the lowest rates seen since early 2018 or even late 2017. This is the chance mortgage rate shoppers have been waiting for.

April New Home Sales: Better Than They Seem

May 23, 2019 via zillow.com While the headline figures are disappointing, this decline in new home sales does not reflect the overall health of the housing market. The post April New Home Sales: Better Than They Seem appeared first on Zillow Research.

Sales of new homes drop 6.9% in April from March's 11-year high

May 23, 2019 via housingwire.com Sales of new houses dropped in April from an 11-year high in March, according to a report from the Census Bureau and the Department of Housing and Urban Development. New-house sales fell 6.9% to a 673,000 annualized pace last month from March's upwardly revised rate of 723,000. Even with the decline, April's level sits 7% higher than a year ago.

Freddie Mac: Mortgage rates at one-year low after falling four consecutive weeks

May 23, 2019 via housingwire.com Mortgage interest rates have fallen for the fourth week in a row, giving way to an uptick in purchase demand, according to the latest Freddie Mac Primary Mortgage Market Survey. Freddie Mac Chief Economist Sam Khater said the mix of demand is skewing to the higher end as more affluent consumers are typically more responsive to declines in rates.

Home values drop for first time in seven years

May 23, 2019 via themortgagereports.com There's yet another positive sign for up-and-coming homebuyers. According to a new report, home values have fallen for the first time in seven years.

Gayborhood Home Premiums Top 200% in Some Markets

May 23, 2019 via zillow.com Overwhelmingly, homes in gayborhoods come at a premium. The post Gayborhood Home Premiums Top 200% in Some Markets appeared first on Zillow Research.

6 Smart Home Devices for a Healthy and Happy Pet

May 22, 2019 via redfin.com Gadgets like pet cameras, self-cleaning litter boxes, and automatic dog doors are popular among homeowners. The post 6 Smart Home Devices for a Healthy and Happy Pet appeared first on Redfin Real-Time.

Blue Ridge Bank launches reverse mortgage division

May 22, 2019 via housingwire.com North Carolina-based Blue Ridge Bank announced this week that it has partnered with HECM technology provider ReverseVision to launch a reverse mortgage division. The bank, which said it has closed $25 billion in forward loans, is implementing ReverseVision's RV Exchange loan origination system to support its launch.

HousingWire News Podcasts: A conversation with Wings Financial

May 22, 2019 via housingwire.com HousingWire Editor-in-Chief Jacob Gaffney interviews Norm Creveling, the chief lending officer for Wings Financial Credit Union. In this episode, Creveling talks about the emergence of digital mortgages, the current housing market, and trends in consumer credit scores. Don't miss it!

Bay Area techies plan to ditch San Francisco for these 5 cities: Survey

May 22, 2019 via cnbc.com Even the tech crowd thinks San Francisco is too expensive for homeownership. That's according to the findings from a recent survey by robo-advisor Wealthfront. Here's where they would rather be.

Celebrity surgeon went 'all in' on $180 million Bel Air mansion, then came the high-end housing glut

May 22, 2019 via cnbc.com The high-end real estate market is suffering, with a glut of overbuilt and overpriced mansions in many of the country's most affluent ZIP codes.

Do you consider your home a great investment? Think again

May 22, 2019 via cnbc.com Your home may be many things. A place to raise your family. An opportunity to put down roots. But one thing it is not is a great investment, according to expert Jonathan Clements.

More than 12 million homeowners have plans to sell their house

May 22, 2019 via themortgagereports.com More than 12 million homeowners are planning to sell their house in the next 1.5 years. And according to new data, many of them are speeding up their initial timelines due to recent market shifts.

Mortgage refinances surge 8%, as rates fall to the lowest level since January 2018

May 22, 2019 via cnbc.com Homeowners are taking advantage of lower interest rates, rushing to refinance their mortgages before rates potentially turn higher again.

HUD Secretary Ben Carson apparently doesn't know what an REO is

May 21, 2019 via housingwire.com HUD Secretary Ben Carson had a bit of a rough day on Wednesday. Carson appeared on Capitol Hill to testify before the House Financial Services Committee, and during questioning from the committee member with the most housing knowledge, turned himself into a punchline by confusing a common housing industry term with a cookie. Yes, you read that right.

Freddie Mac expands its multifamily executive team

May 21, 2019 via housingwire.com Freddie Mac recently announced it expanded its multifamily mortgage banking team, appointing Geri Borger Urgo, Catherine Evans, Michael Case and Amanda Nunnink to newly expanded VP positions. Freddie Mac Multifamily Executive Vice President Debby Jenkins says its essential to identify and develop skilled leaders as the GSE continues to transform its business.

WSJ: That wave of Millennial homebuyers may never come crashing

May 21, 2019 via housingwire.com The housing market has been in a bit of a slump, and a number of industry players are banking on a coming wave of Millennial homebuyers to prop it back up. But according to a recent article in The Wall Street Journal, those young buyers may never come knocking.

Plaza Home Mortgage rolls out new high-balance mortgage program

May 21, 2019 via housingwire.com Plaza Home Mortgage, which recently expanded its non-QM lending program to "allow brokers and correspondent lenders to qualify more non-traditional borrowers," is expanding its mortgage offerings again. The California-based lender announced this week that it is rolling out a new high-balance loan program that mimics the "high cost" loan amounts established by Fannie Mae, Freddie Mac, and the FHA.

The Amazon Effect: Home Prices Are Up Nearly 18% in Arlington, Virginia, Where the Typical Home Sells in Just 6 Days

May 21, 2019 via redfin.com Six months after Amazon announced it would open an HQ2 in Arlington, VA, home prices are up 18% and supply is at a six-year low. The post The Amazon Effect: Home Prices Are Up Nearly 18% in Arlington, Virginia, Where the Typical Home Sells in Just 6 Days appeared first on Redfin Real-Time.

Bank of America now offering $0 origination fee on certain mortgages

May 21, 2019 via housingwire.com With the mortgage business recently suffering its worst three-month stretch in more than four years, competition for borrowers appears to be heating up. Bank of America is now offering a $0 lender origination fee on certain mortgages.

HousingWire News Podcast: Blend bridges the digital lending gap

May 21, 2019 via housingwire.com HousingWire Editor-in-Chief Jacob Gaffney interviews Tim Mayopoulos, the President of Blend. In this episode, Mayopoulos discusses his transition from GSE to Fintech, as well as the current market outlook for mortgage lenders.

April Existing Home Sales: Continuing to Flounder

May 21, 2019 via zillow.com Despite encouraging buying conditions, existing home sales continue to flounder following a dismal fall and winter. The post April Existing Home Sales: Continuing to Flounder appeared first on Zillow Research.

NAR: Monthly existing home sales fall 0.4% in April

May 21, 2019 via housingwire.com In April, existing home sales fell slightly from the previous month, but growing inventory signaled improvement in the market, according to the latest report from the National Association of Realtors. NAR Chief Economist Lawrence Yun said he is not overly concerned about April's 0.4% dip in sales and expects moderate growth very soon.

Home sales fell in April despite a big drop in mortgage rates

May 21, 2019 via cnbc.com Sales of existing U.S. homes fell 0.4% in April compared with March to a seasonally adjusted annualized rate of 5.19 million units, according to the National Association of Realtors. Sales were 4.4% lower compared with April 2018.

New report: The move toward a buyer's market continues

May 21, 2019 via themortgagereports.com Is a buyer's market on the horizon? According to a new analysis, the housing market is "gradually shifting in favor of buyers" -- especially on the high-priced West Coast.

Here's how to build a hurricane-resistant house and here's how much it costs

May 21, 2019 via cnbc.com June marks the official start of hurricane season in the U.S, and after years of increasingly powerful storms wreaking record destruction, homeowners and builders are looking intensely at ways to fortify their homes for the future.

Forecasts for Existing and New Sales Forecast (April 2019)

May 20, 2019 via zillow.com Recent months have been challenging for U.S. home sales, but signs of recovery in the sector are emerging. The post Forecasts for Existing and New Sales Forecast (April 2019) appeared first on Zillow Research.

Home Gym Ideas: 7 Fitness Experts Weigh In

May 20, 2019 via redfin.com Exercising on a regular basis is an essential part of staying fit and healthy, but sometimes finding the motivation to go to the gym can be tricky. Creating a space in your home that can be used as a home gym will make working out more convenient. Whether your workout involves yoga, lifting weights, pilates, […] The post Home Gym Ideas: 7 Fitness Experts Weigh In appeared first on Redfin Real-Time.

Ellie Mae announces layoffs of 10% of its staff

May 20, 2019 via housingwire.com Ellie Mae recently completed restructuring its team after its acquisition by Thoma Bravo, a restructuring that includes the layoff of about 10% of its staff. The company explained those let go are being offered severance packages to help with the transition.

Kraninger: Department of Education refusing to cooperate with CFPB

May 20, 2019 via housingwire.com The U.S. Department of Education has refused to cooperate with the Consumer Financial Protection Bureau, according to CFPB Director Kathy Kraninger. Kraninger recently sent a letter to Sen. Elizabeth Warren, D-MA, in response to the senator's questions about the bureau's efforts to protect student loan borrowers through its oversight of student loan servicers.

Mortgage Tech Rundown: Calyx Software, Finastra and Optimal Blue

May 20, 2019 via housingwire.com This week's mortgage tech rundown highlights the latest news in mortgage technology, featuring product updates, integrations and announcements.

FHA's Montgomery says "more flexible" condo rules are coming

May 20, 2019 via housingwire.com FHA Commissioner Brian Montgomery said the agency is currently working to revise its condominium approval rules and that he expects a final rule to be announced soon. After a near three-year wait, Montgomery said the industry can expect a final ruling on the proposed revisions that will be "less prescriptive and more reflective of the current market."

Want to make more money selling your home? Don't move out

May 20, 2019 via housingwire.com Redfin says America's vacant homes are not only selling for less money, but they're also spending more time on the market. In fact, Redfin's data indicates the average vacant home now sells for $11,306 less and spends six more days on the market than comparable occupied homes.

Want to make more money selling your home? Well don't move out

May 20, 2019 via housingwire.com Redfin says America's vacant homes are not only selling for less money, but they're also spending more time on the market. In fact, Redfin's data indicates the average vacant home now sells for $11,306 less and spends six more days on the market than comparable occupied homes.

Celink names Robert Sivori new chairman, CEO

May 20, 2019 via housingwire.com Celink, the largest subservicer of reverse mortgages in the U.S., announced that Robert Sivori will take over as its new chairman and CEO. The HECM industry veteran is credited with building one of the strongest and most robust reverse servicing platforms.

Without student debt, Morehouse graduates will have more options, from careers to homes

May 20, 2019 via cnbc.com Nearly 400 young men at Morehouse College learned on Sunday that their commencement speaker - billionaire investor Robert F. Smith - would pay off their student loans. Here's how that could change their lives.

4 Affordable Spring DIY Updates You Can Try This Weekend

May 20, 2019 via redfin.com Spring is a popular time to sell a home and upping your curb appeal is one of the best ways to stand out. HGTV's Chip Wade reveals his tips and trades to design on a budget. The post 4 Affordable Spring DIY Updates You Can Try This Weekend appeared first on Redfin Real-Time.

How expertise-on-demand can improve quality control for servicers

May 20, 2019 via housingwire.com Loan servicers have to navigate a continuously changing mortgage landscape. New regulatory requirements, turnover of experienced talent and other factors are all making the mortgage servicing business more turbulent than ever. But perhaps the biggest challenge, especially for small, growing and non-bank servicers, is ensuring that quality control is maintained even when new demands emerge.

Incomes are finally outpacing housing costs in all major cities

May 20, 2019 via themortgagereports.com American incomes are on the rise. According to a new analysis, income growth has outpaced housing costs in all 100 of the country's biggest cities.

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: 272.83 (February 2019), MoM change: +0.26%, YoY change: +4.90%

Source: Federal Housing Finance Agency

List Prices

Median List Price Latest: $310,000 (April 2019), MoM change: +3.33%, YoY change: +6.93%

Average List Price Latest: $515,800 (April 2019), MoM change: +1.34%, YoY change: +4.65%

Source: Realtor.com

Median List Price Per Square Foot

Latest: $150 (April 2019), MoM change: +0.67%, YoY change: +6.38%

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: 4.69% (March 2019), MoM change: -1.68%, YoY change: +1.52%

Mortgage Contract Rate Latest: 4.61% (March 2019), MoM change: -1.28%, YoY change: +1.54%

Mortgage Initial Fees Latest: 1.06% (March 2019), MoM change: -6.19%, YoY change: -7.02%

Source: Federal Housing Finance Agency

Listings

Active and New Listings

Active Listings Latest: 1,415,510 (April 2019), MoM change: +4.88%, YoY change: +4.44%

New Listings Latest: 540,856 (April 2019), MoM change: +13.21%, YoY change: +2.69%

Source: Realtor.com

Median Days on Market

Latest: 58 (April 2019), MoM change: -10.77%, YoY change: -1.69%

Source: Realtor.com

Price Changes

Price Decreases Latest: 308,530 (April 2019), MoM change: +14.24%, YoY change: +15.16%

Price Increases Latest: 27,684 (April 2019), MoM change: +0.14%, YoY change: -9.65%

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: 118,700 (April 2019), MoM change: +12.30%, YoY change: -1.00%

Source: U.S. Census Bureau

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