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

Market Indexes for September 2018

House Price Index

+5.96% YoY

At 266.92 (+0.18% MoM)
Historical

List Price

+7.29% YoY

At $295,000 (0.00% MoM)
Historical

List Price Per Sqft

+7.52% YoY

At $143 (+0.70% MoM)
Historical

30yr-Fixed Mortgage

+14.89% YoY

At 4.86% (-0.21% MoM)
Historical

Active Listings

-0.04% YoY

At 1,560,830 (+0.54% MoM)
Historical

New Listings

+7.80% YoY

At 463,208 (-5.16% MoM)
Historical

Days on Market

-5.80% YoY

At 65 (+6.56% MoM)
Historical

New Construction

-3.78% YoY

At 99,400 (-14.97% MoM)
Historical

Headlines

Sabal announces new president and COO

Dec 10, 2018 via housingwire.com Sabal Capital Partners, a financial services firm specializing in commercial real estate, lending and investing, announced Monday that it appointed Jason Pendergist as president and chief operating officer of term lending.

Redfin: Number of sight-unseen home offers retreat

Dec 10, 2018 via housingwire.com As inventory increases and home price growth slows down, homebuyer competition has begun to ease, according to the latest data from Redfin. Redfin Agent Jessie Culbert said now that most homes are staying on the market for longer than a week, there just isn't as much pressure for buyers to make offers so hastily.

Homeowners are seeing the smallest equity gains in two years

Dec 10, 2018 via cnbc.com The drop in equity gains has been sharpest in the third quarter of this year . In fact, after hitting a record high, the amount of tappable equity fell quarter-to-quarter for the first time since the housing recovery began.

Americans now have less equity to tap

Dec 9, 2018 via housingwire.com According to the latest report from Black Knight, tappable equity on mortgaged properties is now $5.9 trillion - down from last quarter's record-breaking $6 trillion. American homeowners with a mortgage lost about $2,300 in equity this quarter and now have $136,000 available to tap as a slowdown in home price appreciation dampens growth.

A new study shows 89 percent of millennials want to be homeowners--but this keeps them back

Dec 8, 2018 via cnbc.com A new study from Apartment List highlights the overall feelings millennials have towards purchasing a home.

US mall owners have been slow to change for years. But now they're trying to embrace it

Dec 7, 2018 via cnbc.com As 2018 comes to an end, it's been announced that more than 146 million square feet of retail space will be shut across the U.S. in malls and shopping centers, according to real estate research group CoStar.

Freddie Mac: Housing market is short 2.5 million units

Dec 7, 2018 via housingwire.com The housing market needs an additional 2.5 million units just to match what is needed for long-term demand. As it turns out, housing inventory is far behind what is needed for the housing market, driving up rent and home prices, which will continue to outpace income growth.

Unemployment rate holds ground at 3.7%

Dec 7, 2018 via housingwire.com The unemployment rate held its ground at 3.7% in November, according to the latest Employment Situation Summary report from the U.S. Bureau of Labor Statistics. One expert said this week's stock market volatility has markets watching November's job report closer than usual.

Unemployment rate holds ground at 3.7%

Dec 7, 2018 via housingwire.com The unemployment rate held its ground at 3.7% in November, according to the latest Employment Situation Summary report from the U.S. Bureau of Labor Statistics. One expert said this week's stock market volatility has markets watching November's job report closer than usual.

Millennials and money: These homebuyers' habits aren't as bad as they seem

Dec 7, 2018 via themortgagereports.com It turns out Millennials aren't as bad with money as most assume. In fact, according to a new report from Bank of America, the Millennial generation is actually just as good -- if not better -- at managing their money than past cohorts were.

Home price appreciation is slowing down

Dec 6, 2018 via housingwire.com The average homeowner gained $12,400 in equity in one year's time, according to CoreLogic's Home Equity Report for the third quarter of 2018. And while that's not exactly nothing, it's the smallest annual increase in two years, reflecting a slowdown in home price growth.

Congress funds government through December 21

Dec 6, 2018 via housingwire.com Congress voted Thursday to fund the government through December 21, 2018, and in doing so extended the National Flood Insurance Program for two weeks. A government shutdown will most likely be avoided this week, but it will fall to Congress once again to keep the lights on just before Christmas.

Reverse mortgage securities fall to 4-year low

Dec 6, 2018 via housingwire.com The latest data on HECM-backed securities reveals that issuance fell in November to $521 million, hitting the lowest level in four years thanks to low origination volume. According to a report from New View Advisors, only 84 pools were issued in November, the lowest number since February 2015.

Mortgage rates drop to 2-month low--an unexpected holiday gift to housing

Dec 6, 2018 via cnbc.com Mortgage rates are falling sharply, as investors head to the relative safe-haven of the bond market. The average rate on the 30-year fixed has fallen 21 basis points in the past week to 4.73 percent today, according to Mortgage News Daily.

AAG hires new senior VP of operations

Dec 6, 2018 via housingwire.com American Advisors Group has named Joe Stephenson senior vice president of operations. As such, he will oversee operations for all of AAG's sales channels, including its call center, national field sales division and wholesale division. The hire comes not long after the leading reverse mortgage lender launched a massive rebrand that involved an expansion of the company's offerings in an effort to help seniors "retire better."

Freddie Mac: Mortgage rates finally fall

Dec 6, 2018 via housingwire.com After weeks of moderation, mortgage rates have finally fallen, according to the latest Freddie Mac Primary Mortgage Market Survey. Freddie Mac Chief Economist Sam Khater said mortgage rates declined this week amid a steep sell-off in U.S. stocks

Jobs Report: American jobs reach a plateau

Dec 6, 2018 via housingwire.com Although U.S. employment rates rose in nearly every sector in November, experts believe American jobs have reached a plateau, according to the ADP and Moody's Analytics National Employment Report. ADP Vice President and Co-head Ahu Yildirmaz said although the labor market performed well, job growth decelerated slightly.

Natural disasters are up, but homeowners aren't prepared, survey shows

Dec 6, 2018 via themortgagereports.com Natural disasters are on the rise -- and according to a new survey, homeowners are woefully underprepared. Few have flood insurance, most don't have generators and even fewer have a safe room or shelter in case of emergency.

LendingTree: Americans are moving south

Dec 5, 2018 via housingwire.com LendingTree's latest migration analysis revealed that 12.1% of American homebuyers who relocate to different states prefer to call the south home. Notably, Florida is the No. 1 destination for homebuyers moving from 15 of the 50 states.

Class Appraisal changes name to Class Valuation

Dec 5, 2018 via housingwire.com Class Appraisal, a Michigan-based appraisal management company, has announced that it's changing its name to Class Valuation to better describe its expanded focus. The company said its services will now include "new and disruptive" collateral valuation products, a move it is making to keep up with technological advancements impacting the space.

Digitizing real estate: Experts predict these tech trends in 2019

Dec 5, 2018 via themortgagereports.com Digitization is on the rise across the real estate industry. According to a new survey of experts, homebuyers will likely encounter chatbots, eclosing processes, digital notaries and online communication portals as we head into 2019.

MBA: Mortgage applications rise 2%

Dec 5, 2018 via housingwire.com Mortgage applications climbed 2% for the week ending Nov. 30, 2018, according to new data from the Mortgage Bankers Association's weekly Mortgage Applications Survey. MBA's Associate Vice President of Economic and Industry Forecasting Joel Kan said average loan size for purchase applications fell to the lowest level since December 2017.

Mortgage applications rise 2%, but buyers seem unimpressed by lower rates

Dec 5, 2018 via cnbc.com While price gains are now shrinking, affordability is still at the lowest level in a decade and proving to be the biggest barrier to housing demand. Sales of newly built and existing homes continue to suffer.

Reverse mortgages plummet to 14-year low

Dec 4, 2018 via housingwire.com After months of uneven recovery following last October's program changes, reverse mortgage volume has fallen to a low it hasn't seen since 2004. The latest data from analytics firm Reverse Market Insight reveals that HECM endorsements fell 17.4% in November - reaching its lowest point since new policy guidelines were implemented last fall.

[VIDEO] Goldman Sachs: 2020 will NOT bring a recession

Dec 4, 2018 via housingwire.com Many economists are predicting the next recession could occur in 2020 or even 2019, but that's not what Goldman Sachs is predicting. However, Goldman Sachs' chief U.S. equity strategist did point out what he sees as three near-term concerns.

These will be the top 5 housing markets in 2019

Dec 4, 2018 via housingwire.com While coastal tech hubs have been home to some of the hottest real estate markets in recent years, Trulia expects that affordable inland cities will reign all in 2019. According to Trulia's data, these are the markets to watch next year.

These will be the top 10 housing markets in 2019

Dec 4, 2018 via housingwire.com While coastal tech hubs have been home to some of the hottest real estate markets in recent years, Trulia expects that affordable inland cities will reign all in 2019. According to Trulia's data, these are the markets to watch next year.

Luxury home sales could see long winter chill

Dec 4, 2018 via cnbc.com The heat in housing demand is cooling across the nation and across most price points, but luxury is really feeling the chill. Luxury homebuilder Toll Bros. reported weaker demand, especially in California, where home prices are highest.

The 10 best neighborhoods for retirees in America

Dec 4, 2018 via cnbc.com When it comes to living the lifestyle they imagined, today's retirees spend a lot of time worrying about how they will afford their golden years.

Toll Brothers stock dives after disappointing guidance; CEO blames media for housing slowdown

Dec 4, 2018 via cnbc.com CEO Douglas Yearley says reports about the souring house market are causing the slowdown.

Thee cities boast the nation's youngest and oldest homeowners

Dec 4, 2018 via themortgagereports.com Where are the nation's oldest and youngest homeowners? According to a new analysis, older homebuyers flock to warmer climes in Florida, Arizona and Hawaii. Younger ones? You'll find them in Utah, Iowa and Texas.

Rejected Amazon HQ2 Finalists to be Among Nation's Fastest-Growing Markets in 2019

Dec 4, 2018 via zillow.com Home value growth in several markets ultimately rejected for Amazon's coveted second headquarters is expected to outpace the national average next year. The post Rejected Amazon HQ2 Finalists to be Among Nation's Fastest-Growing Markets in 2019 appeared first on Zillow Research.

What You Need to Buy a House in 2019

Dec 4, 2018 via redfin.com You are about to embark on one of the most amazing and rewarding experiences that can ever come from spending money: buying a home. If you are buying a home in 2019, you should know that the entire process is not quick, but when all is said and done, there are few things more exhilarating […] The post What You Need to Buy a House in 2019 appeared first on Redfin Real-Time.

Mungo Homes acquired by Clayton Properties Group

Dec 3, 2018 via housingwire.com Clayton Properties Group, a Berkshire Hathaway company and a division of Clayton Home Building Group, announced it acquired South Carolina-based homebuilder Mungo Homes on Monday.

Mortgage lender profits reach new low for Q3

Dec 3, 2018 via housingwire.com Mortgage lenders reported a lower net production income in the third quarter this year, down from the previous quarter and the previous year and reaching a new low for the third quarter. But one sector may have saved lenders and increased profits during the quarter.

House Hunting at Work: The Most Popular Time to Search for Homes is 10 a.m. on Friday

Dec 3, 2018 via redfin.com Nearly 64 percent more people are on Redfin.com at 10 a.m. on Friday than any other time, on average. That peak percentage is followed closely by 11 a.m. on Monday. The post House Hunting at Work: The Most Popular Time to Search for Homes is 10 a.m. on Friday appeared first on Redfin Real-Time.

LenderClose adds to sales, developer teams

Dec 3, 2018 via housingwire.com LenderClose, a digital lending platform for credit unions and community banks, has hired two associates to its team, naming Erika DeMers sales associate and David Stiennon senior front-end developer.

Hometap finds traction with the house-rich, cash-poor

Dec 3, 2018 via housingwire.com As home prices rise and wages remain stagnant, a growing number of Americans are finding themselves house-rich but cash-poor. And, with interest rates trending upward, American homeowners are increasingly likely to stay put. This all spells opportunity for Hometap, a homeownership investment company that's summer launch was met with unexpected demand.

Apartment tenants receive rent hike for the holidays

Dec 3, 2018 via housingwire.com For both one- and two-bedroom apartments, rents began increasing in June 2018. Rent prices then dropped again in October and November before increasing again in December - just in time for the holidays.

Flagstar finalizes acquisition of Wells Fargo branches

Dec 3, 2018 via housingwire.com Flagstar Bank announced it finalized its acquisition of 52 Wells Fargo branches on Monday. The branches are located across four Midwest states and include approximately $2 billion in deposits, along with certain related assets.

December is usually the slowest month for home sales, but that might not be the case this year

Dec 3, 2018 via cnbc.com Rates are now about a full percentage point higher than they were a year ago, hovering now just below 5 percent. They are expected to move higher in 2019, however.

Notable Numbers From November 2018

Nov 30, 2018 via zillow.com Check out the most eye-popping numbers from Zillow's November research, including how the "Amazon effect" could affect New York, how student debt affects home buyers' choices, and the number of homes expected to be inundated if greenhouse gas emissions climb unchecked. The post Notable Numbers From November 2018 appeared first on Zillow Research.

More trouble for malls: A new wave of closures from Gap, Victoria's Secret and others

Nov 29, 2018 via cnbc.com Now, a slew of specialty retailers like Gap and L Brands are getting serious about trimming their real estate footprints.

Pending home sales fall 2.6% in October as more buyers are priced out

Nov 29, 2018 via cnbc.com Expectations for a stronger housing market in October fell short. Pending homes sales, a measure of signed contracts to buy existing homes, fell 2.6 percent compared with September, according to the National Association of Realtors.

Luxury Home Prices Up 3.2 Percent Annually in the Third Quarter, the Lowest Growth Rate in Nearly Two Years

Nov 29, 2018 via redfin.com Supply of homes priced $2 million or more fell 6 percent from a year earlier, as inventory overall inched up. Luxury home prices rose 3.2 percent year over year to an average of $1.7 million in the third quarter of 2018. This is the lowest growth rate since the fourth quarter of 2016, when prices […] The post Luxury Home Prices Up 3.2 Percent Annually in the Third Quarter, the Lowest Growth Rate in Nearly Two Years appeared first on Redfin Real-Time.

Parents more willing to help with children's debts -- particularly housing-related ones

Nov 29, 2018 via themortgagereports.com Want help paying down that mortgage loan? Just ask your parents. According to a new study, most would U.S. parents would give their children nearly $6,000 to pay down debts -- without expecting any sort of repayment at all.

UK's largest housebuilder calls on lawmakers to move forward with Brexit and stop the uncertainty

Nov 29, 2018 via cnbc.com Brexit uncertainty is "unhelpful" for those seeking to buy a home, the CEO of the U.K.'s largest housebuilder by volume told CNBC Thursday.

SoftBank-backed US home insurance start-up Lemonade looks to Europe for its first expansion abroad

Nov 29, 2018 via cnbc.com Lemonade CEO Daniel Schreiber said the long-term aim would be take the home and renters insurance start-up global "one bit at a time."

Mortgage Rates Still Snacking on Thanksgiving Leftovers, Remain Flat This Week

Nov 28, 2018 via zillow.com Markets are usually quiet leading up to and immediately following Thanksgiving, and mortgage rates this year were no different. The post Mortgage Rates Still Snacking on Thanksgiving Leftovers, Remain Flat This Week appeared first on Zillow Research.

October New Home Sales: The 2018 Slide Continues

Nov 28, 2018 via zillow.com October new home sales fell 8.9 percent from September and 12 percent form a year ago, to 544,000 sales (SAAR), according to the Census Bureau. The post October New Home Sales: The 2018 Slide Continues 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 (October 2018), MoM change: -100.00%, YoY change: -100.00%

Source: Federal Housing Finance Agency

List Prices

Median List Price Latest: $293,000 (November 2018), MoM change: -0.68%, YoY change: +8.50%

Average List Price Latest: $488,300 (November 2018), MoM change: +0.47%, YoY change: +5.30%

Source: Realtor.com

Median List Price Per Square Foot

Latest: $143 (November 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: 4.97% (October 2018), MoM change: +2.26%, YoY change: +19.47%

Mortgage Contract Rate Latest: 4.87% (October 2018), MoM change: +2.10%, YoY change: +18.49%

Mortgage Initial Fees Latest: 1.06% (October 2018), MoM change: -5.36%, YoY change: -15.20%

Source: Federal Housing Finance Agency

Listings

Active and New Listings

Active Listings Latest: 1,515,489 (November 2018), MoM change: -2.76%, YoY change: +3.92%

New Listings Latest: 383,110 (November 2018), MoM change: -13.72%, YoY change: +3.30%

Source: Realtor.com

Median Days on Market

Latest: 71 (November 2018), MoM change: +4.41%, YoY change: -6.58%

Source: Realtor.com

Price Changes

Price Decreases Latest: 335,744 (November 2018), MoM change: -15.43%, YoY change: +20.25%

Price Increases Latest: 22,118 (November 2018), MoM change: -6.51%, YoY change: -9.91%

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: 112,600 (October 2018), MoM change: +13.28%, YoY change: -3.18%

Source: U.S. Census Bureau

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