Housing Market Update | Latest Trends

Market Perspective - Fast Facts About the Housing Market

New Home Sales Climb to Highest Level In a Decade1

Increased 19% from Aug to Sep (Up 17% YOY), 667,000 new houses sold (Seasonally adjusted annual rate), Highest level since Oct 2007

After months of low inventory and downturn from hurricanes, surge in new homes signals a healthy recovery.

Home Prices Up Across All Regions2

West: $362,700, Midwest: $195,800, South: $215,100, Northeast: $274,100

Out West, Listings See Shortest Time on Market 2

Hurricane Harvey and Irma have driven down mortgage applications and closings in the South

Seller’s Market Driving Up Home Prices for Millennial Borrowers

Average Loan Amount: Sep 2016, $182,505 | Sep 2017, $186,591 | First-Time Buyers 29% of sales in September

 

Many of today’s homebuyers may be faced with paying a premium for the same home they might have bought for less last year.

— Joe Tyrrell, EVP of Corporate Strategy, Ellie Mae

 

Mortgage Origination Highlights4

Refinances Rose Slightly in September

38% Sept 2017

Credit Risk Factors Remain Steady for Fourth Consecutive Month

FICO

724

LTV

79

DTI

25/39

Figures represent averages on all closed loans

Looking for ways to grow your business in today’s housing market? Let’s discuss how we can work together!
Sources:
[1] U.S. Census Bureau, HUD, New Residential Sales, September 2017.
[2] National Association of Realtors® (NAR) Existing-Home Sales, September 2017.
[3] Ellie Mae® Millennial Tracker, September 2017.
[4] ] Ellie Mae® Origination Insight Report, September 2017.

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Jason R. Richardson Photo Jason R. Richardson
NMLS# 256859
Mid America Mortgage, Inc.
27413 Tourney Road Suite #150
Valencia, CA 91355
(866) 575-9993
EMAIL ME
Visit my website

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Economic Observer
This letter is for information purposes only and is not an advertisement to extend customer credit as defined by Section 12 CFR 1026.2 Regulation Z. Program rates, terms and conditions are subject to change at any time.

Housing Market Update | Latest Trends [INFOGRAPHIC]

Market Perspective

Sources:
[1] Ellie Mae® Millennial Tracker, April-July 2017.
[2] CoreLogic, a data and analytics company, Loan Performance Insights, May 2017.
[3] Federal Housing Finance Agency, U.S. House Price Index Report – 2Q 2017.
[4] U.S. Census Bureau, HUD, New Residential Sales, July 2017.
[5] Mortgage Bankers Association, Builder Applications Survey, July 2017.

 
 

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Looking for ways to grow your business in today’s housing market? Let’s discuss how we can work together!

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Jason R. Richardson Photo Jason R. Richardson
NMLS# 256859
Mid America Mortgage, Inc.
27413 Tourney Road Suite #150
Valencia, CA 91355
(866) 575-9993
EMAIL ME
Visit my websiteFacebookTwitterLinkedIn Google+YouTube channel
Mid America Mortgage, Inc. Logo
Economic Observer
This letter is for information purposes only and is not an advertisement to extend customer credit as defined by Section 12 CFR 1026.2 Regulation Z. Program rates, terms and conditions are subject to change at any time.

Summer Housing Market Remains Strong [INFOGRAPHIC]

Market Perspective
Looking for ways to grow your business in today’s housing market? Let’s discuss how we can work together!
Share this article:

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Jason R. Richardson Photo Jason R. Richardson
NMLS# 256859
Mid America Mortgage, Inc.
27413 Tourney Road Suite #150
Valencia, CA 91355
(866) 575-9993
EMAIL ME
Visit my website

FacebookTwitterLinkedIn Google+YouTube channel

Mid America Mortgage, Inc. Logo
Economic Observer
This letter is for information purposes only and is not an advertisement to extend customer credit as defined by Section 12 CFR 1026.2 Regulation Z. Program rates, terms and conditions are subject to change at any time.

June Market Perspective [Infographic]

Market Perspective
Need help finding qualified buyers for today’s
purchase market? Let’s talk!

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Jason R. Richardson Photo Jason R. Richardson
NMLS# 256859
Mid America Mortgage, Inc.
27413 Tourney Road Suite #150
Valencia, CA 91355
(866) 575-9993
EMAIL ME
Visit my website

FacebookTwitterLinkedIn Google+YouTube channel

Mid America Mortgage, Inc. Logo
Economic Observer
This letter is for information purposes only and is not an advertisement to extend customer credit as defined by Section 12 CFR 1026.2 Regulation Z. Program rates, terms and conditions are subject to change at any time.

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