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Houzz Renovation Barometer for Q3 2016:
- The barometer (which tracks industry optimism in market improvements) posted high readings for Q3 across all industry groups.
- Architects reported a five-quarter decline in confidence in market gains.
- Remodelers and design-build firms reported that labor shortages are driving cost increases.
First American Financial Corporation’s Potential Home Sales Model for September 2016:
- Potential existing-home sales increased to a 5.8 million seasonally adjusted, annualized rate (SAAR).
- In September, the market potential for existing-home sales grew by 6.5 percent compared with September 2015.
- The potential existing-home sales is 351,000 (SAAR) or 6.0 percent below the pre-recession peak of market potential, which occurred in July 2005.
Mortgage rates:
[graphiq id=”b2w6fmfIyNL” title=”30-Year Fixed Rate Mortgage Rates for the Past 6 Months” width=”600″ height=”400″ url=”https://w.graphiq.com/w/b2w6fmfIyNL” link=”http://mortgage-lenders.credio.com” link_text=”30-Year Fixed Rate Mortgage Rates for the Past 6 Months | Credio”]
[graphiq id=”2NvK9Bl9HIF” title=”15-Year Fixed Rate Mortgage Rates for the Past 6 Months” width=”600″ height=”400″ url=”https://w.graphiq.com/w/2NvK9Bl9HIF” link=”http://mortgage-lenders.credio.com” link_text=”15-Year Fixed Rate Mortgage Rates for the Past 6 Months | Credio”]
Home equity rates:
[graphiq id=”kPkTJrAnX5r” title=”Average Home Equity Loan Bank Rates by State” width=”600″ height=”465″ url=”https://w.graphiq.com/w/kPkTJrAnX5r” link=”http://mortgage-lenders.credio.com” link_text=”Average Home Equity Loan Bank Rates by State | Credio”]
[graphiq id=”dP0v3iYOnH” title=”Average Home Equity Loan Credit Union Rates by State” width=”600″ height=”465″ url=”https://w.graphiq.com/w/dP0v3iYOnH” link=”http://mortgage-lenders.credio.com” link_text=”Average Home Equity Loan Credit Union Rates by State | Credio”]
Most recent market news:
Re/Max’s October 2016 National Housing Report:
- Home sales fell 11.7 percentage points from August to September.
- However, home sales were up 2.0 percentage points form September 2015 to September 2016.
- The median sales price in September was $219,780, 5.1 percent above one year ago.
Email market reports to press@inman.com.