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

Market Indexes for May 2021

Months Supply

-61.96% YoY

At 1.17 (-1.58% MoM)
Historical

New Listings

+14.02% YoY

At 731,085 (-3.36% MoM)
Historical

Homes For Sale

-43.89% YoY

At 739,393 (-0.46% MoM)
Historical

New Construction

+32.62% YoY

At 142,300 (-9.88% MoM)
Historical

Home Sales

+47.51% YoY

At 630,641 (+1.13% MoM)
Historical

Sale Price

+25.75% YoY

At $376,000 (+2.17% MoM)
Historical

Sale Price Per Sqft

+28.48% YoY

At $203 (+1.50% MoM)
Historical

30yr-Fixed Mortgage

-8.36% YoY

At 2.96% (-3.27% MoM)
Historical

Headlines

Michael Bright: Thoughts for the next FHFA director

Jul 19, 2021 via housingwire.com In this post, former Ginnie Mae President Michael Bright offers his thoughts to the new FHFA director. The post Michael Bright: Thoughts for the next FHFA director appeared first on HousingWire.

Forbearances decrease to 1.75M homeowners

Jul 19, 2021 via housingwire.com For the 20th straight week, servicers' forbearance portfolio volume dropped -- this time 26 basis points to 3.50%, per the Mortgage Bankers Association. The post Forbearances decrease to 1.75M homeowners appeared first on HousingWire.

Blend is now worth $4.6B. Now what?

Jul 19, 2021 via housingwire.com Blend was valued north of $4 billion following its IPO last week. We look at what's next for a fintech firm that processed $1.4 trillion worth of loans last year. The post Blend is now worth $4.6B. Now what? appeared first on HousingWire.

Homebuyers aren't seeing savings from falling lumber prices - here's why

Jul 19, 2021 via cnbc.com Lumber prices are falling sharply, but the savings are not yet trickling down to the retail market.

North American Title Insurance announces flurry of moves

Jul 19, 2021 via housingwire.com Margaret Redman has been named director of national commercial services and senior regional underwriting counsel for North American Title Insurance Co. The post North American Title Insurance announces flurry of moves appeared first on HousingWire.

Homebuilders descend on D.C. as confidence drops

Jul 19, 2021 via housingwire.com Builder confidence for newly built single-family homes fell to 80 in July, per the National Association of Home Builders. The post Homebuilders descend on D.C. as confidence drops appeared first on HousingWire.

Homebuilder confidence is still high, but it slipped this month as construction costs grew

Jul 19, 2021 via cnbc.com U.S. homebuilders are happy with buyer demand, but higher construction costs are starting to eat away at their confidence.

Refinance rates fall as Adverse Market Refi Fee is removed

Jul 19, 2021 via themortgagereports.com The Adverse Market Refinance Fee made it more expensive to refinance over the last year. Now, that fee has been removed. Learn more here.

Inventory Jumps Again, as the Market Continues to Sizzle (June 2021 Market Report)

Jul 19, 2021 via zillow.com The number of homes available for sale rose for the second straight month in June, an indication the market may be beginning to find more balance. The post Inventory Jumps Again, as the Market Continues to Sizzle (June 2021 Market Report) appeared first on Zillow Research.

Unicorn start-up Pacaso seeks to capitalize on surging vacation home prices

Jul 16, 2021 via cnbc.com Real estate unicorn start-up Pacaso is reforming Americans' ability to make second home purchases, the company's CEO told CNBC on Friday.

Ex-Zillow execs promise revolution in lending

Jul 16, 2021 via housingwire.com Tomo is a new mortgage platform backed by ex-Zillow executives Greg Schwartz and Carey Armstrong. Seventy million in seed fund was raised. The post Ex-Zillow execs promise revolution in lending appeared first on HousingWire.

eXp and Kind plan mortgage JV by October

Jul 16, 2021 via housingwire.com eXp World Holdings and Kind Lending will launch a mortgage joint venture called Success Lending. They are recruiting LOs and hope to launch by October. The post eXp and Kind plan mortgage JV by October appeared first on HousingWire.

OJO Labs expands into Canada's "tight" housing market

Jul 16, 2021 via housingwire.com Real estate platform OJO Labs is expanding into Canada, and Natalka Falcomer will take the reins, the company announced this week. The post OJO Labs expands into Canada’s “tight” housing market appeared first on HousingWire.

Cash buyers are scooping up homes like mad

Jul 16, 2021 via housingwire.com Cash buyers account for more than half of home sales in West Palm Beach, Naples in Florida and Nassau County in New York, according to Redfin. The post Cash buyers are scooping up homes like mad appeared first on HousingWire.

Mortgage refinance fee dropped by regulator, lowering costs for borrowers

Jul 16, 2021 via cnbc.com Fannie Mae and Freddie Mac are dropping a fee on mortgage refinances that was instituted during the pandemic.

Zillow June 2021-June 2022 Home Value & Sales Forecast

Jul 16, 2021 via zillow.com Current home value appreciation continues to set new records and is expected to continue to accelerate through the summer. The post Zillow June 2021-June 2022 Home Value & Sales Forecast appeared first on Zillow Research.

Create the Ultimate Backyard Retreat to Keep Your Kids Engaged this Summer

Jul 16, 2021 via redfin.com It's no secret that kids of all ages love summer vacation – the warm weather and change in routine bring adventure and imagination into their days. As parents, however, it's common to be concerned that your child isn't being challenged and presented with new learning opportunities while they are out of school. Rest assured, there … Create the Ultimate Backyard Retreat to Keep Your Kids Engaged this Summer Read More >> The post Create the Ultimate Backyard Retreat to Keep Your Kids Engaged this Summer appeared first on Redfin | Real Estate Tips for Home Buying, Selling & More.

Serena Williams invests in rent-reporting fintech Esusu

Jul 16, 2021 via cnbc.com Tennis superstar Serena Williams has invested an undisclosed amount in Esusu, a start-up with a mission to boost credit scores of underserved populations.

FHFA kills adverse market fee

Jul 16, 2021 via housingwire.com The Federal Housing Finance Agency (FHFA) is officially axing Freddie Mac and Fannie Mae's controversial adverse market refinance fee. The post FHFA kills adverse market fee appeared first on HousingWire.

Here's how Black Americans can begin building wealth right now

Jul 16, 2021 via cnbc.com While societal changes are needed to address the wealth gap, there are also steps Black Americans can take right now to start building wealth, experts say.

Freddie Mac now forecasts $3.9T in originations in 2021

Jul 15, 2021 via housingwire.com In Freddie Mac's estimation, still-low rates means 2021 will rival last year's incredible performance of $4 trillion in origination volume. The post Freddie Mac now forecasts $3.9T in originations in 2021 appeared first on HousingWire.

Homebuilders urge Congress to address inventory crisis

Jul 15, 2021 via housingwire.com Hampered by labor shortages, rising material costs & government regulation, homebuilders are looking to Congress to decrease the estimated "under-building gap" of 5.5 million homes. The post Homebuilders urge Congress to address inventory crisis appeared first on HousingWire.

Mortgage credit drops to lowest level since September

Jul 15, 2021 via housingwire.com Mortgage credit availability dipped 8.5% in June to 118.8, per the Mortgage Bankers Association Mortgage Credit Availability Index. The post Mortgage credit drops to lowest level since September appeared first on HousingWire.

How to Prepare Your Home for Drought

Jul 15, 2021 via redfin.com If you live in an area where the risk for drought is high, you'll want to start preparing your home – and yourself – for a drought. To help you get started, we've gathered information to help you assess your water needs and come up with a plan for conserving your water supply. Keep reading … How to Prepare Your Home for Drought Read More >> The post How to Prepare Your Home for Drought appeared first on Redfin | Real Estate Tips for Home Buying, Selling & More.

Morty announces $25 million Series B funding

Jul 15, 2021 via housingwire.com Online mortgage marketplace Morty announced the close of a $25 million Series B financing round, pushing the total company valuation to $150 million. The post Morty announces $25 million Series B funding appeared first on HousingWire.

Death toll rises to 97 in Surfside condo collapse; judge approves sale of site

Jul 15, 2021 via cnbc.com The number of confirmed deaths in the collapse of a condominium building in Surfside, Florida, climbed to 97 as a judge approved the sale of the site.

These are America's 10 most expensive states to live in

Jul 15, 2021 via cnbc.com Prices are rising for goods and services as the U.S. confronts its most serious inflation in decades. These most expensive states to live in had a head start.

These are America's 10 cheapest states to live in for 2021

Jul 15, 2021 via cnbc.com As inflation increases prices on everything from groceries to energy, these are the ten U.S. states where a dollar goes the furthest.

Mortgage rates dip slightly to 2.88%

Jul 15, 2021 via housingwire.com The average 30-year fixed-rate mortgage fell two basis points from the week prior to 2.88%, according to data released Thursday by Freddie Mac's PMMS. The post Mortgage rates dip slightly to 2.88% appeared first on HousingWire.

The hot Miami condo market is a lot more complicated after tragic Surfside collapse

Jul 15, 2021 via cnbc.com The deadly collapse of a residential tower spooked South Florida homebuyers and real estate investors into reassessing the risk of buying Miami-area condos.

Palm Beach is running out of mansions for sale

Jul 14, 2021 via cnbc.com Prices in Palm Beach hit an all-time high in the second quarter, as brokers grappled with a record-low number of mansions to sell.

Shareholder suit accuses Rocket of deceptive disclosures

Jul 14, 2021 via housingwire.com A shareholder sued Rocket Mortgage, the Detroit-based mortgage behemoth, for allegedly making misleading disclosures to conceal adverse market conditions. The post Shareholder suit accuses Rocket of deceptive disclosures appeared first on HousingWire.

Purchases of second homes declined in June

Jul 14, 2021 via housingwire.com The number of buyers who locked in mortgage rates to purchase a vacation or second home nationwide fell 11.1% year over year in June, per a Redfin study. The post Purchases of second homes declined in June appeared first on HousingWire.

How much of your income should you spend on housing? Here's how to tell

Jul 14, 2021 via cnbc.com Two rules can help you figure out if your current home is affordable.

Weekly mortgage refinances spike 20% after interest rates drop to February low

Jul 14, 2021 via cnbc.com A sudden and unexpected drop in mortgage rates sent borrowers to their lenders in droves, hoping to save on their monthly payments.

Mortgage applications jump 16%

Jul 14, 2021 via housingwire.com After several consecutive weeks of drops, mortgage applications jumped 16% for the week ending July 9, 2021, per the latest MBA report. The post Mortgage applications jump 16% appeared first on HousingWire.

'New York is back' -- broker says the city's real estate market is heating up at all levels

Jul 13, 2021 via cnbc.com Top New York real estate broker Christopher Kromer told CNBC the city's housing market is seeing higher demand and lowered prices.

Compass is Guaranteed Rate's latest dance partner

Jul 13, 2021 via housingwire.com Guaranteed Rate has found another dance partner. And Compass is borrowing from the playbook of its most visible direct competitor. The post Compass is Guaranteed Rate’s latest dance partner appeared first on HousingWire.

Redfin: Bidding wars drop slightly in June

Jul 13, 2021 via housingwire.com Per a recent Redfin study, 65% of home offers written by company agents faced competition in June, down from a rate of 72.1% in May. The post Redfin: Bidding wars drop slightly in June appeared first on HousingWire.

Is NAR ready to rumble with DOJ?

Jul 13, 2021 via housingwire.com The DOJ and the NAR are preparing for battle. At stake are the practical rules agents must follow to do their job - and the essence of how they earn money. HW+ Premium Content. The post Is NAR ready to rumble with DOJ? appeared first on HousingWire.

15 Backyard Oasis Ideas For Your Home This Summer

Jul 13, 2021 via redfin.com With summer finally here, there's no better time than now to upgrade your backyard and get your outside space in order. Here are 15 backyard oasis ideas to help you create your ideal summer sanctuary. The post 15 Backyard Oasis Ideas For Your Home This Summer appeared first on Redfin | Real Estate Tips for Home Buying, Selling & More.

Real estate billionaire-backed super PAC claims big wins over progressives in NYC council primaries

Jul 13, 2021 via cnbc.com A super PAC funded largely by Stephen Ross saw major victories targeting progressive New York City Council candidates.

Just a sliver of assistance has reached renters, with eviction ban about to expire

Jul 13, 2021 via cnbc.com Around 176,000 renter households had received assistance by the end of May, according to government data. However, more than 11 million renters are behind.

For housing, look at bonds over MBS or federal debt

Jul 12, 2021 via housingwire.com When we think about MBS, it's the historical downtrend in bond yields that matters, not federal debt and not tapering. HW+ Premium Content The post For housing, look at bonds over MBS or federal debt appeared first on HousingWire.

Forbearance exits are speeding up

Jul 12, 2021 via housingwire.com Servicers' forbearance portfolio volume dropped again, this time 11 basis points to 3.76% as of July 4, 2021, per the Mortgage Bankers Association. The post Forbearance exits are speeding up appeared first on HousingWire.

HUD finally confronts decades of staffing shortages

Jul 12, 2021 via housingwire.com HUD announced it has filled another round of positions, as it confronts decades of staffing shortages. Here's who the agency has brought on. HW+ Premium Content The post HUD finally confronts decades of staffing shortages appeared first on HousingWire.

For many Hispanics, homeownership built on family support

Jul 12, 2021 via housingwire.com Of a Redfin study of 1,500 homeowners, 52% of Hispanic homeowners have lived with family or friends rent-free to save money on housing costs. The post For many Hispanics, homeownership built on family support appeared first on HousingWire.

Homebuyers are finally catching a break as new listings rise and mortgage rates drop

Jul 12, 2021 via cnbc.com Strong demand and record-low supply in the housing market are starting to ease, which should alleviate the incredibly high competition in the market.

Confirmed deaths in collapsed Florida condo building climb to 86

Jul 10, 2021 via cnbc.com The number of confirmed deaths in the collapsed condominium building in Surfside, Florida, has climbed to 86

It's Harder to Save for a Down Payment, But Today's First-Time Buyers Have Some Unique Opportunities

Jul 8, 2021 via zillow.com The typical U.S. renter should expect it to take more than a quarter century to save for a 20% down payment on the typical U.S. starter home. The post It's Harder to Save for a Down Payment, But Today's First-Time Buyers Have Some Unique Opportunities appeared first on Zillow Research.

Housing Prices

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: 277.37 (August 2019), MoM change: +0.17%, YoY change: +4.61%

Source: Federal Housing Finance Agency

Sale Prices

Median Sale Price Latest: $387,000 (June 2021), MoM change: +2.93%, YoY change: +24.84%

Source: Redfin.com

Sale Price Per Square Foot

Median Price Per Square Foot Latest: $207 (June 2021), MoM change: +1.97%, YoY change: +27.78%

Source: Redfin.com

Sale to List Price

Latest: 102.58% (June 2021), MoM change: +0.37%, YoY change: +3.93%

Source: Redfin.com

Sold Above List Price

Latest: 56.38% (June 2021), MoM change: +5.27%, YoY change: +110.12%

Source: Redfin.com

Price Changes

Price Drops Latest: 10.06% (June 2021), MoM change: +32.25%, YoY change: -18.12%

Source: Redfin.com

Mortgage Rates

30-Year Fixed-Rate Loans

Only includes first-lien prime conventional conforming home purchase mortgages with a loan-to-value of 80 percent. For the past several decades, more than half of consumers choose 30-year, fixed-rate mortgages.

Rate Latest: 2.98% (June 2021), MoM change: +0.68%, YoY change: -5.70%

Points Latest: 0.70% (June 2021), MoM change: 0.00%, YoY change: -12.50%

Source: Freddie Mac Primary Mortgage Market Survey (PMMS)

Listings

Active, New, and Sold Listings

Active Listings Latest: 757,663 (June 2021), MoM change: +2.47%, YoY change: -39.59%

New Listings Latest: 776,291 (June 2021), MoM change: +6.18%, YoY change: +8.01%

Home Sales Latest: 717,474 (June 2021), MoM change: +13.77%, YoY change: +20.55%

Source: Redfin.com

Months Supply

Latest: 1.06 (June 2021), MoM change: -9.93%, YoY change: -49.89%

Source: Redfin.com

Days on Market

Median Days On Market Latest: 14 (June 2021), MoM change: -12.50%, YoY change: -64.10%

Source: Redfin.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: 142,300 (May 2021), MoM change: -9.88%, YoY change: +32.62%

Source: U.S. Census Bureau

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