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

Market Indexes for November 2018

House Price Index

+5.76% YoY

At 269.20 (+0.38% MoM)
Historical

List Price

+8.50% YoY

At $293,000 (-0.68% MoM)
Historical

List Price Per Sqft

+7.52% YoY

At $143 (0.00% MoM)
Historical

30yr-Fixed Mortgage

+21.58% YoY

At 5.07% (+2.01% MoM)
Historical

Active Listings

+3.92% YoY

At 1,515,489 (-2.76% MoM)
Historical

New Listings

+3.30% YoY

At 383,110 (-13.72% MoM)
Historical

Days on Market

-6.58% YoY

At 71 (+4.41% MoM)
Historical

New Construction

+2.23% YoY

At 101,000 (-10.30% MoM)
Historical

Headlines

Are zero-energy homes the new wave in housing?

Feb 15, 2019 via housingwire.com Americans are making an effort to be more environmentally cautious, especially in the wake of natural disasters that have ravished local communities across the country. This is especially so for De Young Properties, which has set a precedent that could be responsible for bringing 100,000 zero-energy homes a year to California.

What's the Yield Curve and How Can It Help You Recession-Proof Your Investments?

Feb 15, 2019 via biggerpockets.com There are dozens of pieces of data that can be used to assess when an economic shift might occur. But one, specifically, has proven to be the most reliable over the past 60+ years. It's called the yield curve. Learn how it can be used to predict an impending recession--and why that's the case. View the full article: What’s the Yield Curve and How Can It Help You Recession-Proof Your Investments? on The BiggerPockets Blog. This content is Copyright (C) 2017 BiggerPockets, Inc. All Rights Reserved.

Why Do 2020 Presidential Candidates Want to Change Zoning?

Feb 15, 2019 via redfin.com In the second in a series of blog posts examining candidates' housing policies, Redfin chief economist Daryl Fairweather breaks down the zoning proposals put forward by Cory Booker, Elizabeth Warren, and Andrew Yang 2020 presidential candidates are advocating for changes to zoning laws as a way to combat the housing affordability crisis. Senator Cory Booker […] The post Why Do 2020 Presidential Candidates Want to Change Zoning? appeared first on Redfin Real-Time.

'Million Dollar Listing' agent Ryan Serhant: Buyers are 'freaking out' about Amazon ditching NYC

Feb 15, 2019 via cnbc.com "Amazon coming, I think, was a great thing," says Ryan Serhant. "All they wanted to do was bring jobs."

These are the best places to work for in the housing space

Feb 15, 2019 via housingwire.com Fortune Magazine and Great Place to Work have announced the winners of its 2019 Best Companies to Work For list, ranking the nation's best workplace environments for large companies, and several industry leaders in the mortgage and housing space made the list. See which companies made the cut here.

6 Questions About What It's Like to Sell Your Home to an I-Buyer

Feb 15, 2019 via redfin.com Former Marine Clarence Tinney has sold several homes. Find out why selling to RedfinNow was completely different.   As a former Marine, Clarence Tinney and his family had to relocate many times. As new assignments arrived, so did the mandate to move, which meant selling their home and buying a new one. "We've moved five […] The post 6 Questions About What It's Like to Sell Your Home to an I-Buyer appeared first on Redfin Real-Time.

Alphabet's Sidewalk Labs wants a cut of Toronto taxes to build a smart city there

Feb 15, 2019 via cnbc.com Alphabet's Sidewalk Labs reportedly proposed receiving a cut of property taxes, development fees and increased land value for its work in Toronto.

Atlanta Home Prices Up 4.8%, Outpacing National Growth

Feb 15, 2019 via redfin.com In Atlanta, price growth is stronger and homes are selling faster than they are in the U.S. overall, trends explained in part by the surge in people looking to move inland. Atlanta area home prices were up 4.8 percent annually to a median of $229,900 in January, marking nearly seven years of growing prices. While […] The post Atlanta Home Prices Up 4.8%, Outpacing National Growth appeared first on Redfin Real-Time.

Long Island City Housing Market Bound for More Growth With or Without Amazon

Feb 14, 2019 via redfin.com The New York City neighborhood was already popular among residents seeking less expensive alternatives to Manhattan, and the void left by Amazon may be filled by other opportunistic employers. In the years before Amazon announced it would add up to 25,000 jobs in the area, Long Island City had been establishing itself as a hot […] The post Long Island City Housing Market Bound for More Growth With or Without Amazon appeared first on Redfin Real-Time.

A 'sad day' for New York: Democratic congressman says Amazon backed out of HQ2 deal 'too quickly'

Feb 14, 2019 via cnbc.com "I wish Amazon had stuck it out a little bit longer, because in the long term I believe that this would have been a good deal for both," said Rep. Gregory Meeks, D-N.Y.

Amazon's Exit from New York Most Likely to be Felt By Early Long Island Investors

Feb 14, 2019 via zillow.com Amazon's announcement that it will not build a new headquarters in Long Island City is expected to impact not only the local housing market, but also D.C. and Nashville. The post Amazon's Exit from New York Most Likely to be Felt By Early Long Island Investors appeared first on Zillow Research.

CNBC: JPMorgan to launch first bank-backed cryptocurrency

Feb 14, 2019 via housingwire.com JPMorgan Chase is rolling out the first cryptocurrency backed by a U.S. financial institution, according to a new report by CNBC. JPM Coin will be a digital token used to settle transactions between clients of the bank's wholesale payments business.

Amazon pulls plug on New York HQ2

Feb 14, 2019 via housingwire.com The rumors are true - Amazon has officially canceled plans to build a headquarters in Long Island City, New York, after facing significant opposition from local politicians who protested tax breaks for one of the world's more powerful companies. Amazon announced Thursday that is has opted to withdraw its plans for a Queens headquarters, saying it will not launch a search for a new location. Click the headline to read more.

These were the most loved housing markets in 2018

Feb 14, 2019 via housingwire.com Valentine's Day is a day that honors love, and at HousingWire what we really love are healthy housing markets. Luckily, Zillow has compiled a list of some of the most loved neighborhoods of 2018, which range from upscale enclaves, popular vacation and retirement communities and more. Find out which neighborhoods were the most loved.

Freddie Mac reports net income of $8.6 billion in 2018

Feb 14, 2019 via housingwire.com After taking out market-related losses due to rising interest rates, Freddie Mac reported an income of $1.5 billion in the fourth quarter of 2018. For the full year, Freddie Mac reported $8.6 billion of comprehensive income, an increase of 55% from the year before.

First-time homebuyers: The central U.S. makes it easiest to buy a house

Feb 14, 2019 via themortgagereports.com Americans looking to buy a house -- and do so affordably -- might want to head to inward. According to a new ranking, Pittsburgh, Cleveland and Oklahoma City are the best cities for first-time homebuyers, boasting affordable entry-level homes, low down payment averages and not-so-stringent credit score standards.

For First Time in 5 Years, Buyers Have More Selection to Start the Year (January 2019 Market Report)

Feb 14, 2019 via zillow.com There were slightly more than 1.6 million U.S. homes listed for sale on Zillow in January, up 1.2 percent from a year ago and the first annual gain recorded in January since prior to 2014. The post For First Time in 5 Years, Buyers Have More Selection to Start the Year (January 2019 Market Report) appeared first on Zillow Research.

Fannie Mae reports net income of $16B in 2018

Feb 13, 2019 via housingwire.com Fannie Mae reported comprehensive income of $3.2 billion in the fourth quarter of 2018, bringing its yearly earnings to $15.6 billion in 2018. Although the fourth quarter's income is down from the third quarter's $4 billion, its much higher than the fourth quarter of 2017, when it saw a comprehensive income of $2.3 billion.

What is Zillow's Buyer-Seller Index, and How is it Computed?

Feb 13, 2019 via zillow.com The Zillow Buyer-Seller Index (BSI) is a measure of the balance between sellers and buyers in a given market. The post What is Zillow's Buyer-Seller Index, and How is it Computed? appeared first on Zillow Research.

These markets are hotbeds for luxury real estate

Feb 13, 2019 via housingwire.com A new report by Coldwell Banker reveals where the country's wealthiest individuals are buying properties, listing the top 5 "power markets" for luxury real estate. Coldwell defines power markets as areas that offer the lifestyle amenities, education, and culture that the uber-rich seek out. Here are Coldwell's top five power markets for buyers and sellers, where you can find the greatest number of $1 million-plus homes sold.

Feeling the Winter Blues? Lust After These 13 Warm Weather Homes

Feb 13, 2019 via redfin.com If it's below freezing where you live–or even if it's not–these warm weather addresses are sure to raise your spirits, if not your thermostat. From a $2.25M Hollywood mansion, to a $425K desert abode, every day can feel like vacation.   Vacation is sacred time. Most Americans only get so many days each year to take […] The post Feeling the Winter Blues? Lust After These 13 Warm Weather Homes appeared first on Redfin Real-Time.

Google will spend $13 billion on U.S. real estate in 2019, expanding into Nevada, Ohio and Texas

Feb 13, 2019 via cnbc.com Google will expand into Nevada, Ohio, Texas and Nebraska for the first time, adding new data centers in those states and offices elsewhere.

Moody's: Mortgage delinquencies are on the rise

Feb 13, 2019 via housingwire.com Loan delinquencies for household debt have remained consistent over the past year, but Moody's Investors Service predicts this is about the change. New residential mortgage delinquencies clocked in at 3.55% last quarter, up 15 basis points from last year, Moody's said, calling this trend consistent with its prediction that delinquencies are on the rise.

Pavaso appoints new SVP of business development

Feb 13, 2019 via housingwire.com Pavaso recently appointed Tim Anderson to the position of senior vice president of business development, where he will be responsible for developing products and strategies that drive the implementation of Pavaso's suite of digital products and services.

Dollar buyers are the big winners as prime London property tumbles

Feb 13, 2019 via cnbc.com Brexit fears are keeping international investors on edge.

More married homeowners are bringing in renters to cover housing costs -- especially in the West

Feb 13, 2019 via themortgagereports.com The number of married couples living with roommates has more than doubled since 1995. According to new data, nearly 280,000 married homeowners had renters on their properties last year. In the costly Western housing markets, the trend is growing even more.

Mortgage applications drop 3.7% as homebuyers pull back

Feb 13, 2019 via cnbc.com The lowest interest rates in nearly a year were apparently not enough incentive to juice mortgage demand.

Cramer Remix: Don't let Wall Street convince you there's a 'Fed-induced bubble'

Feb 12, 2019 via cnbc.com Jim Cramer breaks down the real reasons behind the market's latest moves.

Blend looks to disrupt home equity lending

Feb 12, 2019 via housingwire.com Digital lending company Blend has set its sights on the home equity market, announcing Tuesday plans to apply its tech expertise to home equity loans and lines of credit with a new app that promises to drastically reduce turn times. The move is a bet on rapid growth for the home equity market as home prices continue to rise. Blend said that as the purchase market weakens, home equity lending will be the next big opportunity.

These are the least affordable U.S. housing markets

Feb 12, 2019 via housingwire.com Inventory for moderately priced starter homes is tight, and it's driving up home prices, making homes less affordable for America's middle class. A recent study by Realtor.com sought to pinpoint where homes were the least affordable, analyzing the monthly median cost of housing in 500 metros, and here's what it found.

California's housing affordability slightly increases

Feb 12, 2019 via housingwire.com According to the Traditional Housing Affordability Index from the California Association of Realtors, the percentage of homebuyers who could afford to purchase a median-priced, existing single-family home edged up to 28% in the fourth quarter of 2018. Although this is an increase from the third quarter, the percentage is still lower than the same period in 2017.

California, your affordable housing woes are far from over

Feb 12, 2019 via housingwire.com According to the Traditional Housing Affordability Index from the California Association of Realtors, the percentage of homebuyers who could afford to purchase a median-priced, existing single-family home edged up to 28% in the fourth quarter of 2018. Although this is an increase from the third quarter, the percentage is still lower than the same period in 2017.

Optimal Blue debuts Mortgage Market pricing indices

Feb 12, 2019 via housingwire.com Optimal Blue, a secondary marketing automation platform provider, announced the release of a new interactive pricing index for the mortgage market to provide consumers and mortgage professionals with better visibility into the drivers of mortgage pricing by providing daily insight into observed mortgage transactions.

This is how mortgage rates vary by state

Feb 12, 2019 via housingwire.com A new study by LendingTree sought to analyze how rates differ by state, revealing the most and least expensive states to obtain a mortgage loan. The study also looked at other aspects of the homebuying process, including average APRs, loan-to-value ratios, and loan and down payment amounts. Here's what it found.

Top Experts Answer the Most Urgent Home Security Questions

Feb 12, 2019 via redfin.com Redfin asked top experts the most urgent home security questions to help homeowners all over the U.S. The post Top Experts Answer the Most Urgent Home Security Questions appeared first on Redfin Real-Time.

Americans are steeped in debt

Feb 12, 2019 via housingwire.com American household debt continues to climb to record levels, reaching $13.54 trillion in the fourth quarter of 2018. According to the latest report from the Federal Reserve Bank of New York, household debt is now $869 billion higher than 2008's $12.68 trillion peak - and 21.4% above the debt levels seen in the wake of the financial crisis.

NAR: As housing inventory grows home prices rise at healthy pace

Feb 12, 2019 via housingwire.com The national median existing single-family home price increased 4% annually to $257,600 in the fourth quarter, according to the latest quarterly report from the National Association of Realtors. NAR Chief Economist Lawrence Yun said in light of the various hurdles for 2018, the close of the fourth quarter was promising.

Ellie Mae to be acquired by Thoma Bravo for $3.7 billion

Feb 12, 2019 via housingwire.com Ellie Mae announced Tuesday it entered into an agreement to be acquired by Thoma Bravo, a private equity investment firm. The deal is an all-cash transaction of $3.7 billion. Click the headline for more details on the acquisition.

Americans want to buy homes -- and these are the lengths they're willing to go to do it

Feb 12, 2019 via themortgagereports.com Aspiring homeowners are willing to do a lot in order to buy a house. According to new data, many would work an extra job or even add a roommate in order to realize their dreams of homeownership sooner.

Most-Loved Neighborhoods Showcase the Nation's Lust for Luxury, Leisure and Possibility

Feb 12, 2019 via zillow.com The Oaks, a luxury community in the LA area, was the nation's most-loved neighborhood in 2018. But it's not just swanky neighborhoods that get all the love. The post Most-Loved Neighborhoods Showcase the Nation's Lust for Luxury, Leisure and Possibility appeared first on Zillow Research.

Redfin Launches in Canada!

Feb 12, 2019 via redfin.com Torontonians can now sell homes at a 1 percent listing fee with full-service local Redfin agents The post Redfin Launches in Canada! appeared first on Redfin Real-Time.

How much is Amazon's birthplace worth?

Feb 11, 2019 via housingwire.com The house Jeff Bezos rented in the mid-1990s when he started Amazon is now on the market and listed for nearly $1.5 million. The Bellevue, Washington home features three bedrooms and 1.75 bathrooms and includes the oversized mailbox believed to be used by early employees of the retail behemoth.

Redfin: Bidding wars virtually vanish in January

Feb 11, 2019 via housingwire.com All signs point to a housing market slowdown and new data from Redfin indicates that competition is easing as well. According to the company, only 13% of offers written by Redfin agents faced a bidding war in January. This is a drastic drop from 53% in January 2018.

What Should Condo Unit Owners & Landlords Know About Pet Policy Laws?

Feb 11, 2019 via biggerpockets.com More Millennials today are less likely to have children and more likely to have pets. That puts condo owners in a tricky situation as they try to figure out what pet policies are fair to tenants, can cover any damages, and keep them well within the law. View the full article: What Should Condo Unit Owners & Landlords Know About Pet Policy Laws? on The BiggerPockets Blog. This content is Copyright (C) 2017 BiggerPockets, Inc. All Rights Reserved.

Zillow begins buying houses in Texas

Feb 11, 2019 via housingwire.com Homeowners in one of Texas' biggest cities can now sell their houses to Zillow, as the online real estate giant just announced that it is launching direct home buying operations in the Lone Star State.

Ellie Mae adds HELOC calculator to Encompass

Feb 11, 2019 via housingwire.com Mortgage technology provider Ellie Mae announced it launched a new release of its Encompass Digital Lending Platform. The new updates include expanded HELOC origination support, Americans with Disability Act capabilities within Consumer Connect, and enhancements for correspondent and wholesale lending.

Reverse mortgage securities continue downward march

Feb 11, 2019 via housingwire.com The reverse mortgage securities market continues to show the side effects of the HECM product's rough year. Issuance for HECM mortgage-backed securities, or HMBS, fell to just under $614 million in January, down from December's $619 million, according to recent data from New View Advisors. The numbers reflect a tough year for HMBS, which closed out 2018 with $9.6 billion, a drop from 2017's $10.5 billion.

'This is a union town' -- NYC councilman says Amazon's HQ2 is 'antithetical' to our values

Feb 11, 2019 via cnbc.com New York City Councilman Jimmy Van Bramer also says he is against Amazon's plans for HQ2 in Queens because of the company's stances on immigration control.

Only 1 in 8 Redfin Offers Faced Competition in January, Down From More than Half a Year Earlier

Feb 11, 2019 via redfin.com Just 13 percent of offers written by Redfin agents on behalf of their home-buying customers last month faced a bidding war, little changed from December's record low, and down from 53 percent in January 2018. Two of last spring's most competitive markets—Seattle and San Francisco—kicked off 2019 with fewer than one in five offers facing […] The post Only 1 in 8 Redfin Offers Faced Competition in January, Down From More than Half a Year Earlier appeared first on Redfin Real-Time.

These are the 10 Most Romantic U.S. Cities this Valentine's Day

Feb 11, 2019 via redfin.com New York, Houston and Chicago are ahead of the game with the most 1-800-Flowers deliveries planned for Valentine’s Day. Redfin helps you strategize the ultimate date night.   Whether or not you choose to embrace Valentine's Day, the surge of candy hearts, red roses, and panic over last minute dinner reservations has become somewhat synonymous […] The post These are the 10 Most Romantic U.S. Cities this Valentine's Day appeared first on Redfin Real-Time.

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: 269.20 (November 2018), MoM change: +0.38%, YoY change: +5.76%

Source: Federal Housing Finance Agency

List Prices

Median List Price Latest: $289,300 (January 2019), MoM change: +0.10%, YoY change: +7.35%

Average List Price Latest: $488,700 (January 2019), MoM change: +0.85%, YoY change: +4.16%

Source: Realtor.com

Median List Price Per Square Foot

Latest: $144 (January 2019), MoM change: +0.70%, YoY change: +7.46%

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: 5.10% (December 2018), MoM change: +0.59%, YoY change: +20.85%

Mortgage Contract Rate Latest: 4.98% (December 2018), MoM change: -0.20%, YoY change: +19.42%

Mortgage Initial Fees Latest: 1.17% (December 2018), MoM change: +13.59%, YoY change: -4.88%

Source: Federal Housing Finance Agency

Listings

Active and New Listings

Active Listings Latest: 1,312,073 (January 2019), MoM change: -6.33%, YoY change: +6.42%

New Listings Latest: 399,132 (January 2019), MoM change: +41.34%, YoY change: +8.13%

Source: Realtor.com

Median Days on Market

Latest: 87 (January 2019), MoM change: +8.75%, YoY change: -2.25%

Source: Realtor.com

Price Changes

Price Decreases Latest: 250,624 (January 2019), MoM change: +18.47%, YoY change: +24.77%

Price Increases Latest: 24,086 (January 2019), MoM change: +13.51%, YoY change: -9.90%

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: 101,000 (November 2018), MoM change: -10.30%, YoY change: +2.23%

Source: U.S. Census Bureau

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