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

Market Indexes for March 2019

House Price Index

+4.95% YoY

At 273.38 (+0.11% MoM)
Historical

List Price

+7.18% YoY

At $300,000 (+1.76% MoM)
Historical

List Price Per Sqft

+7.97% YoY

At $149 (+2.05% MoM)
Historical

30yr-Fixed Mortgage

+1.52% YoY

At 4.69% (-1.68% MoM)
Historical

Active Listings

+4.36% YoY

At 1,349,597 (+1.76% MoM)
Historical

New Listings

-0.43% YoY

At 477,740 (+18.10% MoM)
Historical

Days on Market

+3.17% YoY

At 65 (-21.69% MoM)
Historical

New Construction

-10.12% YoY

At 105,700 (+17.84% MoM)
Historical

Headlines

'Trump Heights': Netanyahu dedicates new settlement in Golan Heights to US president

Jun 16, 2019 via cnbc.com U.S. ambassador to Israel David Friedman called the gesture a "birthday present" to Trump, who turned 73 on Friday.

Millennials are stressed about home ownership: Here's how to ease those worries

Jun 15, 2019 via themortgagereports.com Millennials often experience buyer's remorse due to high repair costs and lower financial stability than their parents had at this age. How can generation combat buyer's remorse and realize the long-term benefits of homeownership?

Fitch: Home price growth slowest in 7 years

Jun 14, 2019 via housingwire.com Home price growth has clearly slowed down in recent months as the housing market cools after a near six-year hot streak. Now, a report released by Fitch Ratings this week details just how much the market has slowed, and predicts where prices will go from here.

Waterstone Mortgage names new general counsel

Jun 14, 2019 via housingwire.com Waterstone Mortgage has promoted Stephanie Ziebell to senior vice president, general counsel. As such, Ziebell participate in the development and execution and management of Waterstone Mortgage's strategic plans from its Pewaukee, Wisconsin, corporate office.

First American appoints new VP of information technology strategy

Jun 14, 2019 via housingwire.com First American, a title insurance company, recently appointed Paul Bandiera to the position of vice president of information technology strategy. Bandiera, who previously served as the president of a title and escrow software company, brings 18 years of leadership experience in retail title and settlement software development.

Alabama-based Hometown Lenders launches HECM division

Jun 13, 2019 via housingwire.com Alabama-based mortgage lender Hometown Lenders announced Thursday that it's launching a reverse mortgage division, employing ReverseVision's HECM technology to support its effort. This makes Hometown the second lender in the last month to launch a HECM division using ReverseVision technology, apparently finding merit in the "generational lending" strategy RV promotes.

Here's why top mortgage loan originators are also expert marketers

Jun 13, 2019 via housingwire.com At HousingWire's engage.marketing conference in Charleston, North Carolina, experts including Movement Mortgage Senior Loan Officer Lindsey Goins, MVB Mortgage Senior Loan Officer Daniel McCoy, Mount Diablo Lending top loan originator Ramon Walker discuss the relationship between loan originators and marketing.

Older homeowners are spending big on home improvements

Jun 13, 2019 via housingwire.com Home improvement spending continues to trend upward, with the latest data from Harvard's Joint Center for Housing Studies putting the aggregate total at a new high of $424 billion. The home improvement sector can thank the Baby Boomers for that, as research shows older homeowners are spending big on home renovations and aren't expected to slow down anytime soon.

A data-driven approach to neighborhood stabilization

Jun 13, 2019 via housingwire.com There's an opportunity to give data that opinion-shaping power when it comes to answering a specific question regarding neighborhood stabilization: is it better for a distressed foreclosure property to revert back to the foreclosing lender or be sold to a real estate investor at the foreclosure auction, if the primary goal is to most effectively stabilize the surrounding neighborhood?

House committee passes bill to make FHA loans less expensive

Jun 13, 2019 via housingwire.com The House Financial Services Committee passed a bill Wednesday that would limit mortgage insurance payments on loans backed by the Federal Housing Administration. The bill would repeal FHA's policy that requires borrowers to pay mortgage insurance for the life of the loan - something housing industry participants have lobbied for for years.

These 15 cities boast the best 20-year returns on home values

Jun 13, 2019 via cnbc.com From 1999 to 2019, home values have risen more than 90% nationwide. In some places, the gain is above 400%.

HUD declares FHA is no longer backing DACA mortgages

Jun 13, 2019 via housingwire.com After months and months of uncertainty about whether the FHA is backing mortgages for Deferred Action for Childhood Arrivals recipients or not, HUD has finally given an official answer. And that answer is no. Click the headline for the full story.

These home improvements can help shave money off your utility bills

Jun 13, 2019 via cnbc.com Here's where homeowners can start if they want to cut their energy use and utility bills.

Mortgage Tech Rundown: CoreLogic, TapCap, EXOS and Homebot

Jun 13, 2019 via housingwire.com This week's mortgage tech rundown highlights the latest news in mortgage technology, featuring product updates, integrations and announcements.

How trade wars affect the housing market

Jun 13, 2019 via themortgagereports.com Trade wars, ironically, can help the housing market by inducing rock-bottom rates. But they can also make building materials more expensive, driving up home prices. Are trade wars a net benefit for home buyers?

10 cities where a buyers market is near

Jun 13, 2019 via themortgagereports.com Housing is still on sellers' sides, but that doesn't mean it's a bad time to buy a home. In fact, according to new data, there are actually 10 cities where a buyers market might soon be on the horizon.

Leading mortgage lender Quicken Loans sees record loan volumes

Jun 12, 2019 via cnbc.com "We're having record months. This quarter will be the largest quarter in the company's history," Quicken Loans CEO Jay Farner says.

BB&T, SunTrust to rebrand as Truist

Jun 12, 2019 via housingwire.com When BB&T announced its pending "merger of equals" with SunTrust Banks in February, the companies said they would emerge together under a new name. On Wednesday, that name was revealed, as the two banks said they would be operating together as Truist - a moniker they said reflects their separate heritages and "shared belief in building a better future."

Citizens Bank unveils digital home buying and mortgage experience

Jun 12, 2019 via housingwire.com Citizens Bank, which became one of the country's largest mortgage companies when it acquired Franklin American Mortgage last year, is now diving headfirst into digital mortgages. This week, Citizens unveiled a new digital mortgage experience that will enable borrowers to both apply for and manage their mortgages online. But that's not the only part of the home buying journey that Citizens is digitizing. The bank is also now offering to help borrowers find their next house as well.

BB&T, SunTrust announce new Charlotte headquarters

Jun 12, 2019 via housingwire.com BB&T announced in February its pending merger with SunTrust Banks in a $66 billion deal that marked the largest big bank merger since the financial crisis. Now, the companies have revealed the location of their new headquarters - a 550,000-square-foot office located in a tower in Charlotte, North Carolina, set to house 2,000 employees from both banks.

Who wants to be CEO of Wells Fargo? No one, apparently

Jun 12, 2019 via housingwire.com It seems Wells Fargo is having trouble finding someone willing to take on the role of leading the embattled bank into a new, scandal-free era after its CEO stepped down in March. According to The Wall Street Journal, the bank's board has approached a select number of candidates, and no one appears to be taking the bait.

President Trump's former estate in Greenwich gets a 29% price cut

Jun 12, 2019 via housingwire.com It's not a good time to be selling a mansion in Greenwich, even if it was once occupied by the current president of the United States. The owners have been trying to sell the 20,000-square-foot Georgian mansion since 2009 when it first hit the market at $50 million. This week, the price was slashed to $38.5 million and the listing suggests it's an opportunity "to renovate or build new." "

Mortgage lenders finally see bigger profit margins ahead, as demand surges

Jun 12, 2019 via cnbc.com The mortgage application numbers this week just put an exclamation point on an already positive trend for mortgage lenders. Consumer demand for mortgages, both to purchase a home and to refinance, is way up.

Millennial refinances see jump amidst dropping mortgage rates

Jun 12, 2019 via themortgagereports.com It seems Millennial homeowners are taking advantage of lower mortgage rates. According to new data, Millennial refinances have officially hit their highest point in more than a year.

Weekly mortgage applications soar nearly 27% on a big rate drop

Jun 12, 2019 via cnbc.com Mortgage applications surged 26.8% in just one week. Volume was 41% higher than the same week one year ago.

MBA: Declining mortgage rates push refinances to a 3-year high

Jun 12, 2019 via housingwire.com Despite growing economic tension, mortgage applications continued to climb, according to the Mortgage Bankers Association. MBA Vice President of Economic and Industry Forecasting Joel Kan said purchase and refinance applications surged, driven mainly by lower mortgage rates.

Parents Buying Homes: Long on Wish Lists and Breaking the Budget

Jun 12, 2019 via zillow.com The home-shopping process for buyers with children who are under 18 and living at home is more arduous: They are more likely to see an offer or mortgage financing fall through, and they're more likely to go over budget. The post Parents Buying Homes: Long on Wish Lists and Breaking the Budget appeared first on Zillow Research.

How we chose a new appraisal vendor management platform

Jun 11, 2019 via housingwire.com Between upgrading versions of its own proprietary software and outside integrations with several appraisal vendor management providers, Academy had dealt with five different appraisal vendor management systems in two years. Find out what happened when the company went looking for technology that was the right fit for the long term.

Dream of spending your retirement on the beach? Here are the best towns

Jun 11, 2019 via cnbc.com Spending your days with your toes in the sand may sound like the perfect way to spend your retirement. Here are top beach towns for retirees from U.S. News & World Report.

Almost 1 in 5 American households expect to move in next year, Fed report says

Jun 11, 2019 via housingwire.com About 19% of American households surveyed in May expected to move in the next 12 months, according to the Survey of Consumer Expectations report from the Federal Reserve Bank of New York. Households also reported lower expectations of future income growth.

The majority of consumers are wildly wrong about what it takes to get a mortgage

Jun 11, 2019 via cnbc.com The majority of consumers think it is much harder to qualify for a home loan than it actually is, according to a recent Fannie Mae survey of more than 3,000 people.

San Francisco's housing market heats up as tech IPOs move in

Jun 11, 2019 via housingwire.com Although bidding wars are slowing as the housing market continues to cool, new data from Redfin suggests that San Francisco's housing market is heating back up. Redfin Chief Economist Daryl Fairweather said recent tech IPOs have reignited competition in the metro.

Need help putting together your marketing tech stack?

Jun 11, 2019 via housingwire.com New tech solutions continue to flood the mortgage industry, all promising to improve processes, increase efficiencies and save money. Marketers are being inundated with options, but it's difficult to know where to start, much less what to actually implement. That's why we asked industry experts to speak at engage.marketing in our session titled, How I Built This: Putting Together Your Marketing Tech Stack.

NRT names new executive vice president of operations

Jun 11, 2019 via housingwire.com NRT, the largest residential real estate brokerage by sales volume, recently appointed Tim Foley to the position of executive vice president of operations. NRT President and CEO M. Ryan Gorman said under Foley's leadership, NRT will be well-positioned to achieve operational excellence across all business segments.

Home flipping is getting less profitable; should you sell before it's too late?

Jun 11, 2019 via themortgagereports.com Though home flipping is actually making up a larger share of all home sales lately, investors are making less profit from their ventures. In fact, according to new data, home flipping profits have hit their lowest point since early 2016.

HousingWire Insiders Award now open for nominations

Jun 11, 2019 via housingwire.com The mortgage industry has a lot of moving parts, and sometimes operational superstars are the keys that drive a company forward, its secret to success. HousingWire Insiders recognizes these key players.

Here are the Most (And Least) Affordable Metros for Getting Married and Buying a Home in the Same Year

Jun 10, 2019 via redfin.com If you're torn between spending your wedding budget on a party or a down payment, our data compares the national average wedding cost with the median home list price and average down payments. The post Here are the Most (And Least) Affordable Metros for Getting Married and Buying a Home in the Same Year appeared first on Redfin Real-Time.

LenderClose expands its software development team

Jun 10, 2019 via housingwire.com Fintech startup LenderClose recently announced it expanded its team, welcoming three new software engineers to the company, including Matthew Brown, Phyllis Nelson and Jessica Wilson. LenderClose COO Ben Rempe said this team is directly responsible for making sure the company's rapid technology development is accompanied by the highest quality client care and attention.

NAR invests in blockchain startup Propy

Jun 10, 2019 via housingwire.com The National Association of Realtors is backing Propy, a Silicon Valley startup whose real estate software aims to automate real estate transactions and allows properties to be bought and sold using currency that includes cryptocurrency.

Inside Jeff Bezos' new 12-bedroom Manhattan mega-condo

Jun 10, 2019 via housingwire.com The CEO of the world's largest retailer is buying three condominiums near Madison Square Park for a combined price of about $80 million. The purchase includes a 10,000-square-foot triplex penthouse with five bedrooms and nearly 6,000 square feet of outdoor space overlooking the Empire State Building, the Flatiron Building, and the new World Trade Center. The other two other apartments, directly beneath the penthouse, bring the combined interior space to 17,000 square feet. CNBC has a video tour.

Redfin Opens Dallas Engineering Hub

Jun 10, 2019 via redfin.com Newly opened Frisco office is home to brokerage, mortgage, title and engineering teams The post Redfin Opens Dallas Engineering Hub appeared first on Redfin Real-Time.

Homeowners should turn themselves into real estate investors

Jun 10, 2019 via themortgagereports.com If you've ever been tempted by real estate investing, now might be the perfect time to turn your dream into reality. Because the factors that can lead to success rarely line up better than they do today.

Home equity rises again -- except in these two states

Jun 10, 2019 via themortgagereports.com House price growth may be slowing down, but American homeowners still have something to celebrate. According to new data, they've gained more than $485 million in home equity in just the past year.

9 Negotiation Tips Every Woman Needs to Read

Jun 7, 2019 via redfin.com If you're weighing a job offer or making one on a new home, read Redfin Chief Economist Daryl Fairweather's top 9 tips for negotiating before striking any deals. The post 9 Negotiation Tips Every Woman Needs to Read appeared first on Redfin Real-Time.

This Week's $530M Mega Millions Jackpot Winner Could Purchase Every Single Home For Sale in These Cities

Jun 7, 2019 via redfin.com With the $530 million Mega Millions jackpot, a winner could potentially buy every single home for sale in these cities. The post This Week's $530M Mega Millions Jackpot Winner Could Purchase Every Single Home For Sale in These Cities appeared first on Redfin Real-Time.

Home flippers hire Uber and Lyft drivers to scout properties in a pricey housing market

Jun 7, 2019 via cnbc.com Competition is so fierce in the home flipping market that some investors are hiring Uber and Lyft drivers to help them scour a wider territory for possible properties.

A Garage in Chicago Is Worth Nearly $47,000, More Than Any Other Metro

Jun 6, 2019 via redfin.com Buyers can expect to pay more for a home with a garage. How much more? Depends on the area. The post A Garage in Chicago Is Worth Nearly $47,000, More Than Any Other Metro appeared first on Redfin Real-Time.

White House invites Trump business allies to forum in search for a Middle East 'deal of the century'

Jun 6, 2019 via cnbc.com The meeting is part of Trump's plan to strike the "deal of the century" for Israeli-Palestinian peace. Colony Capital's Tom Barrack will attend.

Study shows student loan forgiveness plan would boost Millennial homebuying options

Jun 6, 2019 via themortgagereports.com Politicians have been tossing around the idea of student debt forgiveness for years. Though an official policy has yet to be passed, new data shows it would be monumental for Millennial homebuying prospects if enacted.

Mortgage Rates Fall Again as Investor Expectations Shift

Jun 5, 2019 via zillow.com Mortgage rates fell this week as trade tensions continue to dictate market movements. The post Mortgage Rates Fall Again as Investor Expectations Shift 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: 273.38 (March 2019), MoM change: +0.11%, YoY change: +4.95%

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: 4.50% (April 2019), MoM change: -4.05%, YoY change: -5.86%

Mortgage Contract Rate Latest: 4.39% (April 2019), MoM change: -4.77%, YoY change: -5.39%

Mortgage Initial Fees Latest: 1.12% (April 2019), MoM change: +5.66%, YoY change: -4.27%

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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