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

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.

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.

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.

MBA Secondary: Bringing private equity back into the market

May 20, 2019 via housingwire.com The consensus from the first session of the MBA Secondary conference was that private capital practices today are wholly different than they were pre-crisis, and consumers will be well-served by a greater private-capital presence in the market. In fact, the performance of loans bought by private capital investors since the crisis have performed so well that the standards are probably leaving out a number of worthy borrowers.

MBA Secondary: Bringing private capital back into the market

May 20, 2019 via housingwire.com The consensus from the first session of the MBA Secondary conference was that private capital practices today are wholly different than they were pre-crisis, and consumers will be well-served by a greater private-capital presence in the market. In fact, the performance of loans bought by private capital investors since the crisis have performed so well that the standards are probably leaving out a number of worthy borrowers.

Should I Wait to Move Out Until After I Sell My Home?

May 17, 2019 via redfin.com Vacant homes fetch less money and spend more time on the market than occupied homes in every metro area. See where the difference is biggest. The post Should I Wait to Move Out Until After I Sell My Home? appeared first on Redfin Real-Time.

Why Redfin Is Syndicating Listing Data to Seattle

May 17, 2019 via redfin.com Redfin listings now appear on Zillow.com in Seattle, Charlotte, Des Moines and Nashville. The post Why Redfin Is Syndicating Listing Data to Seattle appeared first on Redfin Real-Time.

Scalable subservicing technology fuels LoanCare's growth

May 17, 2019 via housingwire.com Over the past three to four years, LoanCare has gone from servicing half a million loans to nearly 1.5 million loans. HousingWire sat down with LoanCare President Dave Worrall to find out what's fueling that growth, and what's next.

Architect I.M. Pei dies at age 102

May 16, 2019 via cnbc.com I.M. Pei, whose modern designs and high-profile projects made him one of the best-known and most prolific architects of the 20th century, has died.

SoFi CEO reveals what he learned about millennial stock investing habits

May 16, 2019 via cnbc.com Early investors are showing "that they don't want to put a lot of money at risk," SoFi CEO Anthony Soto says.

Tax Reform's Impact on Homebuyers Lower than Expected--Less than Half of Buyers Said it Has Affected Their Search

May 16, 2019 via redfin.com Over a year after the historic tax code overhaul, less than half of homebuyers say that tax reform has had an effect on their home search. The post Tax Reform's Impact on Homebuyers Lower than Expected--Less than Half of Buyers Said it Has Affected Their Search appeared first on Redfin Real-Time.

Redfin: April's home-price growth proves the market is heating up

May 16, 2019 via housingwire.com In April, the nation's home-sale prices stabilized, rising 2.8% from 2018 levels, according to new data from Redfin. Redfin chief economist Daryl Fairweather said homebuyers should take April's home-price rebound as a cue that the cooldown may be coming to an end.

Six months after California's Camp Fire, survivors still struggle to find temporary homes

May 16, 2019 via cnbc.com The Camp Fire disaster in November 2018 displaced nearly 35,000 residents in Paradise, California area, and even six months later, a large number of families are still unable to find homes.

Bobby Berk's Guide to Shopping for a Home: Design Features To Fix or Nix

May 16, 2019 via redfin.com Bobby Berk, Queer Eye's interior design expert, shares tips to help you find and design your dream home. The post Bobby Berk’s Guide to Shopping for a Home: Design Features To Fix or Nix appeared first on Redfin Real-Time.

U.S. Bank unveils digital mortgage experience

May 16, 2019 via housingwire.com U.S. Bank is now the latest in a growing list of mortgage lenders that are digitizing their lending process. This week, the bank unveiled a sweeping new digital mortgage experience that borrowers can use for traditional mortgages, home equity loans, and home equity lines of credit.

Taylor Morrison CEO on homebuilding at end of 2018: "It was that bad."

May 16, 2019 via cnbc.com The CEO of Arizona-based Taylor Morrison said, "In December, if you were to talk to anybody, there was, potentially, a house was never going to be sold in the U.S. again. It was that bad."

Coming wave of millennial homebuyers is a major opportunity for US housing market

May 16, 2019 via cnbc.com Nearly 45 million Americans will reach the general age of first-time home buyers in the next 10 years, 3.1 million more than in the 10 years prior, according to a recent analysis by Zillow.

[Pulse] We must improve the QM standard, and this is why

May 16, 2019 via housingwire.com The industry should pay attention to bipartisan legislation that would permit lenders to move away from outdated, static requirements and instead document borrower income and debt through the government-approved methodologies already in place in the GSE guides or the FHA, VA, and USDA handbooks.

April Housing Starts: Regained Momentum

May 16, 2019 via zillow.com Builders spotted a clear runway in April, coming on the heels of a March rebound in new home sales and in the midst of low mortgage rates, a robust labor market and none of the barriers presented by this winter's partial government shutdown and early signs of a trade war with China. The post April Housing Starts: Regained Momentum appeared first on Zillow Research.

After months of setbacks, housing starts rise nearly 6%

May 16, 2019 via housingwire.com Housing starts rose nearly 6% in April, according to the latest report from the U.S. Dept. of Housing and Urban Development and the U.S. Dept. of Commerce. Realtor.com Senior Economist George Ratiu said from rising inventory to lower mortgage rates and higher consumer confidence, new housing construction mirrored improvements in the housing market.

Living with your parents to save money might dim your chances of becoming a homeowner

May 16, 2019 via cnbc.com Young adults who lived with their parents between the ages of 25 and 34 were actually less likely to become homeowners after 10 years than those who didn't.

Home sellers do less than 3 hours of research, hire the first agent they meet

May 16, 2019 via themortgagereports.com Home sellers hate homework Thinking about selling your home? Prepare to do your proper seller research. Because rushing into the process without knowing the facts can lead to regret. It […]

Data shows a fifth of all Millennials are living with mom

May 16, 2019 via themortgagereports.com Rising rents are causing more and more Millennials to move in with mom. According to new data, the number of young adults living with their mom has nearly doubled since 2000.

Home Values Dip Month-Over-Month for First Time in Seven Years

May 16, 2019 via zillow.com The median U.S. home value fell 0.1% in April from March, the first monthly decline in seven years and another signal that the housing market continues to pump the brakes after several years of torrid growth. The post Home Values Dip Month-Over-Month for First Time in Seven Years appeared first on Zillow Research.

U.S. Home Prices Resume Growth, Up 2.8% in April

May 15, 2019 via redfin.com U.S. home-sale prices edged up in April, growing 2.8 percent from a year ago, to a median of $307,600 across the metros Redfin tracks. The post U.S. Home Prices Resume Growth, Up 2.8% in April appeared first on Redfin Real-Time.

Open Mortgage acquires South Dakota-based Premier Home Mortgage

May 15, 2019 via housingwire.com Open Mortgage has acquired Premier Home Mortgage, a South Dakota-based lender that specializes in financing for rural and small-town homes. Open said the deal will add new markets to its footprint and millions to its bottom line.

Nextdoor raises $123 million; now valued at more than $2 billion

May 15, 2019 via housingwire.com Nextdoor, the neighborhood social network, is now valued at more than $2 billion after a recent capital raise that saw the company bring in $123 million in new funding. The funding round is the company's first big move under Sarah Friar, who took over as CEO last year.

3 cities where you can get the most on a $100,000 salary

May 15, 2019 via cnbc.com Looking for a new home where you can squeeze the most use out of your paycheck? Consider Memphis, Tennessee, according to GOBankingRates.

Bank of America raises minimum wage to $17 per hour

May 15, 2019 via housingwire.com When Bank of America's employees received their bi-weekly paychecks this week, the lowest dollar amount that any of them earned per hour was $17 after the bank officially increased its minimum hourly wage from $15 to $17 this month.

Want your homebuyer to be able to afford more?

May 15, 2019 via housingwire.com Helping buyers purchase the best home for their hard-earned money has always been the key to real estate success--whether that's discovering the perfect neighborhood or negotiating the final sale price. The ability to stretch buying power is more crucial than ever, and savvy agents are encouraging buyers to partner with independent mortgage brokers. Here's why choosing a mortgage broker is your best option.

Stronger home sales boost builder confidence in May

May 15, 2019 via cnbc.com The nation's homebuilders are reporting a rebound in sales, and that is making them more optimistic about the housing market.

The top cities for Millennials: Where Generation Y is putting down roots

May 15, 2019 via themortgagereports.com Millennials aren't gravitating toward the huge urban centers like most would expect. According to new data, they're actually heading to smaller towns in the midwest -- like Madison, Wisconsin and Grand Rapids, Michigan.

MBA: Mortgage applications slide 0.6% from last week

May 15, 2019 via housingwire.com Although rising on an annual bias, mortgage applications fell slightly for the week ending May 10, 2019, according to the Mortgage Bankers Association.Vice President of Economic and Industry Forecasting Joel Kan said it's worth watching if the ongoing global trade disputes cause potential homebuyers to postpone their home searches.

Mortgage applications slightly lower despite three weeks of falling rates

May 15, 2019 via cnbc.com Mortgage hunters were not particularly impressed with the latest drop in interest rates.

How to Write a Winning Real Estate Offer Letter

May 15, 2019 via redfin.com The offer letter gives you the opportunity to connect with the sellers on a personal level, to explain to them why you want their home and why they should choose your offer. The post How to Write a Winning Real Estate Offer Letter appeared first on Redfin Real-Time.

8 Reasons Why Palm Springs Needs to be on Your Real Estate Radar

May 14, 2019 via redfin.com With an iconic history, art deco vibes, and a thriving real estate as hot as the year round temps-you should seriously consider moving to Palm Springs. The post 8 Reasons Why Palm Springs Needs to be on Your Real Estate Radar appeared first on Redfin Real-Time.

Fannie Mae announces winner of 11th reperforming loan sale

May 14, 2019 via housingwire.com Fannie Mae announced that DLJ Capital Mortgage, a Credit Suisse subsidiary, is the winner of its 11th reperforming loan sale. The deal includes more than 21,000 loans with an unpaid principal balance of $3.27 billion across four pools and is expected to close on June 21, according to Fannie Mae.

U.S. mortgage delinquency rate rises from 18-year low, MBA reports

May 14, 2019 via housingwire.com The share of U.S. homeowners who paid mortgages late in the first quarter rose from an 18-year low at the end of 2018, the Mortgage Bankers Association said on Tuesday. Even with the increase, the rate was the fourth-lowest on record. The so-called foreclosure inventory, meaning the share of all loans in foreclosure, was 0.92%, the lowest level since 1995.

MBA: Commercial mortgage originations fall short in Q1

May 14, 2019 via housingwire.com Although multifamily mortgage originations rose 12% year over year in Q1, they retreated 34% from the previous quarter, according to the Mortgage Bankers Association. Jamie Woodwell, MBA's vice president of commercial real estate research, said first quarter volumes were higher for nearly every property type, and double-digit growth in loan volume for Fannie and Freddie led the increase among capital sources.

Angel Oak plots expansion in non-QM correspondent lending

May 14, 2019 via housingwire.com Angel Oak Companies, an investment management firm that focuses on mortgage credit and made its name providing residential mortgages that don't fit into the Qualified Mortgage box, has grown its business significantly over the last several years. And now, the company is set to grow again. Angel Oak announced this week that it is planning an expansion of its correspondent lending channel.

NAR: Home prices are rising but at a much slower pace

May 14, 2019 via housingwire.com The national median existing single-family home price increased 3.9% annually to $254,800 in the first quarter of 2019. Despite this increase, Q1's total now sits just below the annual increase of 4% in the fourth quarter of 2018. NAR Chief Economist Lawrence Yun said in order to combat slower price gains, the construction industry needs to develop more affordable housing units.

Trump calls for Fed to reduce interest amid trade war with China

May 14, 2019 via housingwire.com President Donald Trump took to Twitter on Tuesday morning to air his thoughts on the trade war with China, where he hinted at monetary actions from the Federal Reserve. Trump explained that China would most likely manipulate its interest rates to keep its economy going during the trade war, but said that if the U.S. did the same, it would be "game over."

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: 119,300 (April 2019), MoM change: +12.87%, YoY change: -0.50%

Source: U.S. Census Bureau

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