Daily market update: Sept. 4, 2015

September Denver Metro Real Estate Market Trends Report

• Available homes for sale in Denver was reported at 7,587 at the end of August, a 1.6 percent increase in inventory month-over-month.
• 6,416 new listings came on the market in August, while 5,383 homes were placed under contract and 5,088 homes closed.
• Sold listings decreased 15 percent and total sales volume dropped 15 percent to $1.86 billion from July.

Northwest Multiple Listing Service housing activity in August:

• Pending sales outpaced the number of new listings added to inventory for the fifth month this year with a reported 10,603 mutually accepted transactions and 9,921 new listings.
• Total inventory dipped at the end of August with 20,749 total active listings in the MLS database, which is a slight drop from 21,069 in July and a 23.3 percent decline from a year ago.
• When considering supply, or months of inventory, August saw a slight uptick over July from 2.24 months to 2.38 months of inventory.

We’ll add more market news briefs throughout the day. Check back to read the latest.

Yesterday’s market news:

Freddie Mac’s Primary Mortgage Market Survey results:

• The 30-year fixed-rate mortgage increased slightly to 3.89 percent from last week’s 3.84 percent, but is still lower than 4.1 percent a year ago.
• The 15-year fixed-rate mortgage was reported at 3.09 percent, up slightly from 3.06 percent last week but down from last year’s 3.24 percent.
• The five-year adjustable-rate averaged 2.93 percent this week, up from 2.9 percent last week but down slightly from 2.97 percent last year.

Zillow Negative Equity Report for 2Q 2015:

• The negative equity rate in the U.S. dropped below 15 percent in the second quarter of 2015.
• Nearly 20 percent of condo owners were underwater, most notably in cities such as Chicago, Orlando and Las Vegas.
• 7.4 million homeowners were underwater at the end of the second quarter, down significantly from the worst of the housing bubble when underwater homeowners hit 15 million.

RealtyTrac’s released its second annual U.S. Natural Disaster Housing Risk Report:

• 43 percent of U.S. homes and condos, or an estimated market value of $6.6 trillion in property, are in counties with a high risk or very high risk for at least one type of natural disaster.
• California, Florida, New York, New Jersey and North Carolina have the most homes in high to very high risk counties for overall natural disasters.
• The 10-year home price growth is stronger in areas of low natural disaster risk, but home values are higher in counties with high risk.

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