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

Market Indexes for October 2018

House Price Index

+5.65% YoY

At 267.89 (+0.33% MoM)
Historical

List Price

+7.29% YoY

At $295,000 (0.00% MoM)
Historical

List Price Per Sqft

+7.52% YoY

At $143 (0.00% MoM)
Historical

30yr-Fixed Mortgage

+19.47% YoY

At 4.97% (+2.26% MoM)
Historical

Active Listings

+1.63% YoY

At 1,558,442 (-0.15% MoM)
Historical

New Listings

+3.69% YoY

At 444,032 (-4.14% MoM)
Historical

Days on Market

-6.85% YoY

At 68 (+4.62% MoM)
Historical

New Construction

-3.18% YoY

At 112,600 (+13.28% MoM)
Historical

Headlines

Price Cuts on Newly Constructed Homes Becoming More Common

Jan 17, 2019 via zillow.com Home shoppers across the nation may have an easier time finding a deal on a newly constructed home than they did a year ago. The post Price Cuts on Newly Constructed Homes Becoming More Common appeared first on Zillow Research.

Quick cash for homes: How iBuyer programs are changing the real estate industry

Jan 16, 2019 via redfin.com Technology is changing the face of real estate, and it looks like 2019 will be the year that iBuyers are put to the test. As the housing market cools off, home sellers are looking to get top dollar for their homes, especially in large markets like San Diego. The good news is that there are […] The post Quick cash for homes: How iBuyer programs are changing the real estate industry appeared first on Redfin Real-Time.

Home Prices and Sales Ended 2018 Not With a Bang, But a Whimper

Jan 16, 2019 via redfin.com December home sales fell 11 percent as prices turned in their smallest gain in over six years. Boston and San Jose both saw prices decline year over year. The post Home Prices and Sales Ended 2018 Not With a Bang, But a Whimper appeared first on Redfin Real-Time.

Get to Know Bridle Trails, Redfin's Hottest Neighborhood for 2019

Jan 16, 2019 via redfin.com See why Bridle Trails in Bellevue. Washington earned the top spot in our hottest neighborhoods report for 2019 with a Redfin agent's insider guide. The post Get to Know Bridle Trails, Redfin's Hottest Neighborhood for 2019 appeared first on Redfin Real-Time.

Student loan debt is keeping young people from buying homes, Fed study finds

Jan 16, 2019 via cnbc.com Home ownership among those in the 24-to-32 group plunged from 45 percent to 36 percent for the period in the Fed survey.

IBM lays off 310 mortgage servicing staff at Seterus

Jan 16, 2019 via housingwire.com More than 300 employees working for mortgage servicer Seterus in Durham, North Carolina, will be out of a job come March. The news comes just days after Mr. Cooper announced it had purchased Seterus from IBM in a deal expected to close in the first quarter of the year, and coincides with layoffs in Mr. Cooper's origination channel.

Home prices make smallest gains in nearly 4 years, but rents are hot

Jan 16, 2019 via cnbc.com The slowdown in home sales and home price gains in most major U.S. markets is causing the opposite effect in the rental market, especially for single-family rental homes. Those rent prices increased 2.9 percent annually in November 2018.

Reverse mortgage securities market shrinks

Jan 16, 2019 via housingwire.com Reverse mortgage volume has taken a nosedive in the past year, a fact that is glaringly evident by the product's performance in the secondary market. The latest from New View Advisors reveals that outstanding float of HECM-mortgage backed securities has fallen yet again. "At some point, declining float could affect HMBS liquidity and therefore pricing," said New View Partner Michael McCully.

Homebuilder confidence stabilizes in January

Jan 16, 2019 via housingwire.com Held steady by decreasing mortgage rates, homebuilder confidence in the market of new single-family homes stabilized in the month of January, increasing two points to 58, according to the latest National Association of Home Builders/Wells Fargo Housing Market Index.

Homebuilder sentiment turns higher in January after mortgage rates drop

Jan 16, 2019 via cnbc.com Builder sentiment rose 2 points to 58 in January according to the National Association of Home Builders. This came after two months of sharp drops in sentiment to the lowest level in more than two years. The index stood at 72 a year ago.

MBA: Mortgage applications push forward

Jan 16, 2019 via housingwire.com Despite U.S. economic volatility, mortgage applications pushed forward for the week ending Jan. 11, 2019, according to the newest data from the Mortgage Bankers Association's weekly Mortgage Applications Survey.

Mortgage applications surge 13.5% as borrowers rush to take advantage of lower rates

Jan 16, 2019 via cnbc.com That is its highest level since February 2018 and came after a 23 percent jump the previous week. Volume was just 0.5 percent lower compared with the same week one year ago

LendingTree finalizes ValuePenguin acquisition

Jan 15, 2019 via housingwire.com LendingTree announced Tuesday it has completed its acquisition of Value Holding Inc., the parent company of personal finance website ValuePenguin, paying $105 million for the company.

Analyst predicts weak year for HELOCs

Jan 15, 2019 via housingwire.com Many predict the Federal Reserve will raise interest rates in the year ahead, and this means HELOC borrowers can expect their loan payments to creep upward. Bankrate.com's Chief Financial Analyst Greg McBride predicts many HELOC borrowers will see their rates increase by 50 basis points this year.

These are the nation's most competitive housing markets

Jan 15, 2019 via housingwire.com Although the housing market is expected to experience a slowdown in 2019, some metropolitan areas are thriving. Because of this, LendingTree has ranked the 50 largest metros. Read to find out which cities are ahead of the pack.

Blackstone set to launch largest real estate fund ever

Jan 15, 2019 via housingwire.com Blackstone Group is set to finish raising capital for the largest-ever real estate fund. According to The Wall Street Journal, the $20 billion fund is expected to close in the first quarter of 2019 for most investors and may focus on tech hubs, remote resorts, rental properties and distribution centers.

Mr. Cooper laying off 109 mortgage employees in California

Jan 15, 2019 via housingwire.com Over the last several months, layoffs have hit companies across the housing industry as the industry works to find solid footing in a shifting mortgage market. One company that's been growing is Mr. Cooper Group, the nonbank formerly known as Nationstar Mortgage. But, layoffs are about to hit Mr. Cooper, too.

Trulia welcomes new chief economist

Jan 15, 2019 via housingwire.com Real estate and rental listing website Trulia recently announced Issi Romem joined the company as its new chief economist. Trulia's Senior Vice President and General Manager Tim Correia said Romem brings a fresh but experienced perspective on the U.S. economy, urban development and housing policy to Trulia's Housing Economics Research team.

Million-Dollar Mania: Redfin's 10 Hottest Neighborhoods of 2019 Are All in Costly Coastal Hubs

Jan 15, 2019 via redfin.com Many people are moving away from pricey coastal cities, but the ones that remain are searching for homes in high-priced pockets of already-expensive areas. The majority of Redfin's 10 hottest neighborhoods of 2019 have a median sale price of more than $1,000,000--and the others aren't far from the seven-figure mark. Redfin's annual hottest neighborhoods report […] The post Million-Dollar Mania: Redfin's 10 Hottest Neighborhoods of 2019 Are All in Costly Coastal Hubs appeared first on Redfin Real-Time.

Redfin Ranks the 10 Hottest Affordable Neighborhoods of 2019

Jan 15, 2019 via redfin.com Philadelphia and Baltimore feature heavily on this year's ranking of the hottest affordable neighborhoods in the country. Every city has in-demand neighborhoods where buyers are clamoring to find homes. But with hotness comes price growth, which can make it difficult for the typical homebuyer to afford a home in the most popular parts of expensive […] The post Redfin Ranks the 10 Hottest Affordable Neighborhoods of 2019 appeared first on Redfin Real-Time.

Hello, homebodies: Homeownership tenure jumps 10 percent over the year

Jan 15, 2019 via themortgagereports.com Homeowners are staying in their houses longer than ever. According to new data, the average homeownership tenure has jumped 10 percent in just the last year.

China's foreign direct investment into the US dropped precipitously in 2018, data show

Jan 15, 2019 via cnbc.com Trade tensions, along with pressure on companies from Beijing, have caused a decline in Chinese direct investment into the United States. Still, Chinese home purchases and venture capital funding continue to grow.

Job Opportunities Drive List of Hottest U.S. Markets for 2019

Jan 15, 2019 via zillow.com It's January, and while the weather may be getting colder, the U.S. housing market remains plenty warm. Some markets - fueled by rapid home value and rent appreciation, job opportunities, income growth and low unemployment - are red hot. The post Job Opportunities Drive List of Hottest U.S. Markets for 2019 appeared first on Zillow Research.

These are the best housing markets to pay off debt

Jan 14, 2019 via housingwire.com In 2018, American consumer debt reached a whopping $4 trillion, contributing to tightening affordability concerns in the housing sector. LendingTree recently released a report that highlighted the best U.S. metros for paying off debt. Find out which cities made the cut.

L.A. County Teachers Typically Spend Half Pre-Tax Salaries on Rent or Mortgages

Jan 14, 2019 via zillow.com Teachers in Los Angeles County typically need to spend about half their pre-tax salaries on rent or mortgage payments to afford a median-priced home or rental. The post L.A. County Teachers Typically Spend Half Pre-Tax Salaries on Rent or Mortgages appeared first on Zillow Research.

Supreme Court rejects Texas bank challenge to CFPB

Jan 14, 2019 via housingwire.com The Supreme Court declined to hear a Texas bank's constitutional challenge to the structure of the Consumer Financial Protection Bureau on Monday. The State National Bank of Big Spring, Texas, claimed the CFPB's "unprecedented, unchecked power" violates the Constitution's separation of powers.

Hello, Canada!

Jan 14, 2019 via redfin.com Buyers and sellers in Toronto and Vancouver will soon be able to work with Redfin agents The post Hello, Canada! appeared first on Redfin Real-Time.

Freddie Mac names Ricardo Anzaldua general counsel

Jan 14, 2019 via housingwire.com Freddie Mac has named Ricardo Anzaldua general counsel and corporate secretary. Anzaldua, who worked previously as general counsel at MetLife, joined Freddie Mac in May as executive vice president and senior legal advisor.

NAR: American dream of homeownership is still alive

Jan 14, 2019 via housingwire.com Although affordability continues to be a deterrence to homeownership, data suggests Americans still strongly consider it to be a part of the American dream, according to the National Association of Realtors.

Expert: A look under the hood of the mortgage industry

Jan 14, 2019 via housingwire.com While the front end of mortgage lending might look good, a look into the back end of operations shows a much different story. Mortgage lending is in desperate need of a technology update.

Thanks to lower mortgage rates, 550K homeowners could save by refinancing

Jan 14, 2019 via themortgagereports.com If you already own a home, it might be time to think about refinancing. According to new data, more than half a million homeowners could lower the mortgage rates by doing so.

A multibillion-dollar deal is creating one of the world's largest real estate investment managers

Jan 13, 2019 via cnbc.com Asian real estate developer CapitaLand said it will acquire Ascendas-Singbridge, which would create one of the world's largest real estate investment managers.

Trends show 2019 homebuyers will be largely female, Millennial and Hispanic

Jan 13, 2019 via themortgagereports.com Know a Hannah, Austin, Alexis, Logan or Taylor? According to new data, they might just become homebuyers this year.

A drop in home prices? Data shows it's not as impossible as it may seem

Jan 12, 2019 via themortgagereports.com Home price growth is expected to slow this year, but in some places? There's even a small chance that home prices might decline -- especially in the West.

Credit unions aid government employees affected by shutdown

Jan 11, 2019 via housingwire.com Credit unions across the U.S. are stepping up to help government employees affected by the shutdown, which is nearing the end of its third week. Here's is what credit unions are doing to help the impacted employees.

American homeownership tenure is climbing

Jan 11, 2019 via housingwire.com Americans are remaining in their homes longer than ever before, and recent data indicates that homeownership tenure has risen 10% just from 2017. But why are homeowners staying put and what does that mean for the housing market's future?

Jason Shapiro joins LOGS Network as chief revenue officer

Jan 11, 2019 via housingwire.com LOGS Network, a legal service provider for the residential mortgage and consumer credit industry, recently announced it appointed Jason Shapiro to the position of chief revenue officer. Shapiro will be responsible for managing the national sales, marketing and business development efforts for the company's law firms, title companies and affiliated entities.

Time to say goodbye to rate hike possibilities in 2019?

Jan 11, 2019 via housingwire.com As 2019 begins, many experts and even Federal Reserve members predict that the Fed is done raising interest rates, at least for 2019. While some think the Fed has at least a couple more rate hikes to go in 2019, others aren't so sure.

Experts: Government shutdown increasing lenders' risk exposure

Jan 11, 2019 via housingwire.com As the government shutdown drags on and 800,000 federal workers are going unpaid, experts at Moody's Investors Service issued a note of caution to mortgage lenders of all types, warning of an increase in mortgage delivery risk.

The housing market's future is female

Jan 11, 2019 via housingwire.com The housing market is projected to heat up in 2019 and new data from Realtor.com indicates this push will predominantly be driven by Millennial women. According to the company's latest study, 50% of the top 20 fastest growing buyer first names belong to Millennial women.

Mortgage shutdown problems: furloughed and face a late mortgage payment

Jan 11, 2019 via themortgagereports.com Government shutdown victims and others can find ourselves in impossible financial difficulties where we face a late mortgage payment. Here's what to do.

Market Data Report: Renting Looks More Attractive Than Ever in 2019

Jan 10, 2019 via biggerpockets.com America is facing a significant affordable housing shortage, something likely to deter lots of would-be buyers from making the leap from renter to owner this year. In fact, renting is more affordable than buying in about 60 percent of U.S. housing markets, according to recent research from ATTOM Data Solutions. View the full article: Market Data Report: Renting Looks More Attractive Than Ever in 2019 on The BiggerPockets Blog. This content is Copyright (C) 2017 BiggerPockets, Inc. All Rights Reserved.

Who is Maren Kasper, the new head of Ginnie Mae?

Jan 10, 2019 via housingwire.com Ginnie Mae said Wednesday that Maren Kasper, Ginnie Mae's current executive vice president, will serve as acting president in Michael Bright's absence. But what do we know about Kasper, who will soon be overseeing an agency that boasts a mortgage bond portfolio of more than $1 trillion? A look into Kasper finds housing experience, but also numerous issues during her time at HUD.

Gary Keller returns as CEO to lead Keller Williams

Jan 10, 2019 via housingwire.com In a note to employees this week, Keller Williams Co-founder Gary Keller announced he will be coming back to the company to serve as CEO. Keller announced that as the company continues its technology transformation, he is stepping back into the role to lead the real estate industry "into the future."

Mortgage rates drop below 4.5%. Consumers scramble to refinance

Jan 10, 2019 via themortgagereports.com Mortgage rates have been falling since November, but the American consumer is just now noticing. A mini refi boom has started as homeowners are starting to notice low rates.

United Wholesale Mortgage rolls out new pricing plan

Jan 10, 2019 via housingwire.com In 2018, United Wholesale Mortgage closed out the year with $41.5 billion in total loan volume, making up nearly a quarter of the entire wholesale industry's market share. But it looks like UWM is setting the bar even higher in 2019, as the company has recently announced plans to change its pricing philosophy in a bid to offer "the best prices and rates in America."

Freddie Mac: Mortgage rates fall to lowest level in nine months

Jan 10, 2019 via housingwire.com Mortgage rates took a dive across the board, reaching their lowest levels in months, according to the latest Freddie Mac Primary Mortgage Market Survey. Freddie Lower mortgage rates combined with continued income growth and lower energy prices are all positive indicators for consumers that should lead to a firming of home sales.

Check this map for cities with the most indebted seniors

Jan 10, 2019 via cnbc.com There's something about San Antonio -- and Austin and Houston. Seniors in these three Texas cities account have the highest median debt balances, excluding mortgages.

The dangers of DIY: These basic tools cause homeowners the more injury (and ER time)

Jan 10, 2019 via themortgagereports.com As a homeowner, DIYing some of your property repairs can mean serious savings. Apparently, it can also can also mean serious injury, too. According to a new analysis, even some of the most innocuous DIY repairs and tools can have painful, long-term repercussions for America's homeowners.

Rates Clock-In at Two-Week High Following Strong Jobs Data

Jan 9, 2019 via zillow.com Propelled upward by stellar jobs data, more cautious forward-looking statements from Federal Reserve officials and easing trade fears, rates reached their highest point in two weeks. The post Rates Clock-In at Two-Week High Following Strong Jobs Data 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: 0 (November 2018), MoM change: -100.00%, YoY change: -100.00%

Source: Federal Housing Finance Agency

List Prices

Median List Price Latest: $289,000 (December 2018), MoM change: -1.37%, YoY change: +7.06%

Average List Price Latest: $484,600 (December 2018), MoM change: -0.76%, YoY change: +4.31%

Source: Realtor.com

Median List Price Per Square Foot

Latest: $143 (December 2018), MoM change: 0.00%, YoY change: +7.52%

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: 5.07% (November 2018), MoM change: +2.01%, YoY change: +21.58%

Mortgage Contract Rate Latest: 4.99% (November 2018), MoM change: +2.46%, YoY change: +19.66%

Mortgage Initial Fees Latest: 1.03% (November 2018), MoM change: -2.83%, YoY change: -18.25%

Source: Federal Housing Finance Agency

Listings

Active and New Listings

Active Listings Latest: 1,400,810 (December 2018), MoM change: -7.57%, YoY change: +5.30%

New Listings Latest: 282,396 (December 2018), MoM change: -26.29%, YoY change: +3.00%

Source: Realtor.com

Median Days on Market

Latest: 80 (December 2018), MoM change: +12.68%, YoY change: -3.61%

Source: Realtor.com

Price Changes

Price Decreases Latest: 211,544 (December 2018), MoM change: -36.99%, YoY change: +23.66%

Price Increases Latest: 21,220 (December 2018), MoM change: -4.06%, YoY change: -1.67%

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: 101,700 (November 2018), MoM change: -9.68%, YoY change: +2.94%

Source: U.S. Census Bureau

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