The Federal Housing Finance Agency (FHFA), Home Price Index (HPI) reports that U.S. house prices rose 6.5% from July 2019 to July 2020 and were up 1% for the month.
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Mortgage Banker Associations Reports The Share of Mortgage Loans in Forbearance Drops to 6.3% for Week Ending September 13th, 2020
The latest Mortgage Banker Association’s Forbearance and Call Survey reports that the total number of loans in forbearance decreased by 9 basis points from 7.01% of servicers’ portfolio volume in the prior week to 6.93% as of September 13th, 2020.
U.S. Census Bureau Reports COVID-19 Pandemic Impacted Absorption Rate of Rental Units and Condos
The latest data from the U.S. Census Bureau’s Survey of Market Absorption (SOMA) reveals that the absorption rate of unfurnished and unsubsidized apartments (the share rented out in the first three months following completion) fell to 45% in Q1 of 2020, down from 53% in Q1 2019.
Existing Home Sales in August Hit Highest Level Since December 2006
The National Association of Realtors® (NAR) has reported that total existing-home sales in August, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, increased 2.47% above July, to a seasonally-adjusted annual rate of 6.00 million in August.
New Home Prices in Canada See their Largest Monthly Increase in 3-years
Statistics Canada reported on Monday (9/21) that its New House Price Index (NHPI), which tracks the price of newly built homes, rose by 0.5% in August. The fourth straight month of increases and the largest increase in NHPI since May of 2017.
U.S. Household’s Market Values Increase in Q2 2020, Despite COVID-19 Pandemic
According to the second quarter of 2020 Federal Reserve Flow of Funds Report, the COVID-19 pandemic did not impact household’s market values. On the contrary, household market values continued to rise throughout all of Q2 of 2020.
Construction Time to Build a New Single-Family Home Increases in Latest U.S. Census Bureau Survey
The U.S. Census Bureau’s 2019 Survey of Construction (SOC) is reporting that the average time from start to completion of a single-family house was around 8.1 months.
U.S. Forest Service Announces the Re-Opening of Nine of the Eighteen Closed California National Forests in Varying Degrees
The U.S. Forest Service (USFS) announced on Saturday that they were opening 9 of the 18 California National Forests, after having shut them all down to “unprecedented’ fire dangers earlier in the month.
U.S. Retail Sales and Consumer Spending Slowed in August
According to a recent report from the U.S. Commerce Department, U.S. consumer spending slowed in August.
Mortgage Loans in Forbearance Decreases for 14th Week in a Row
The Mortgage Bankers Association’s (MBA) latest Forbearance and Call Volume Survey revealed that the total number of loans now in forbearance decreased by 15 basis points from 7.16% of servicers’ portfolio volume in the prior week to 7.01% as of September 6, 2020.