Real Estate Daily Market Update: January 31, 2018

Real Estate Daily Market Update: January 31, 2018

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Inman Connect San Francisco, Jul 16-20, 2018

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

Most recent market news

Tuesday, January 30

First American Real House Price Index

  • Real house prices increased 0.5 percent between October and November 2017.
  • Real house prices increased 5.0 percent year over year.
  • Consumer house-buying power, how much one can buy based on changes in income and interest rates, was unchanged between October and November 2017, and grew 0.9 percent year over year.
  • Real house prices are 37.7 percent below their housing boom peak in July 2006 and 16.2 percent below the level of prices in January 2000.
  • Unadjusted house prices increased by 6.0 percent in November on a year-over-year basis and are 6.3 percent above the housing boom peak in 2007.

S&P CoreLogic Case-Shiller Indices

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  • The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index, covering all nine U.S. census divisions, reported a 6.2% annual gain in November, up from 6.1% in the previous month.
  • The 10-City Composite annual increase came in at 6.1%, up from 5.9% the previous month.
  • The 20-City Composite posted a 6.4% year-over-year gain, up from 6.3% the previous month.
    Seattle, Las Vegas, and San Francisco reported the highest year-over-year gains among the 20 cities.
  • In November, Seattle led the way with a 12.7% year-over-year price increase, followed by Las Vegas with a 10.6% increase, and San Francisco with a 9.1% increase. Six cities reported greater price increases in the year ending November 2017 versus the year ending October 2017.

Read the full report here.

Monday, January 29

Bankrate Mortgage Rates

  • The average 30-year fixed-rate mortgage increased 7 basis points to 4.27 percent.

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