Market Studies

It appears more consumers have taken notice of reports of slowing home price gains. The share of consumers in Fannie Mae's January National Housing Survey who said they expect home prices to increase in the next year fell 6 percentage points to 43 percent, while the share expecting prices to stay the same increased 7 percentage points to 45 percent. The average 12-month home price change expectation was 2.0 percent.

The Five Star Institute announced Monday the formation of the National Appraisal Congress (NAC). In response to a developing need for thought leadership and the promotion of best practices and execution, the NAC will serve as a collection of subject matter experts to foster collaboration in the real estate appraisal industry.

A new commentary from Fannie Mae attempts to address a perplexing question: With mortgage rates down steadily in the last several years and greater opportunity for significant savings, why have so many borrowers elected not to refinance?

The National Association of Home Builders released new figures from their Leading Markets Index (LMI), revealing 58 out of approximately 350 metro areas have either returned to or exceeded their last normal levels of economic and housing activity. The index’s nationwide score registered at .87, meaning economic and housing activity is running at 87 percent of normal levels.

While "tech hub" metros have experienced elevated price gains compared to the rest of the nation, a recent analysis from Trulia chief economist Jed Kolko argues that the two may have little to do with one another. Rather, tech hubs "had steeper price declines during the bust and have fewer homes stuck in foreclosure today–and both of those factors are driving the current price rebound."

In its weekly published Primary Mortgage Market Survey, Freddie Mac put the average 30-year fixed mortgage rate at 4.23 percent (0.7 point) for the week ending February 6, down from 4.32 percent previously. Meanwhile, Bankrate reported a drop of 7 basis points in the 30-year fixed average to 4.43 percent, with the 15-year fixed falling 6 points to 3.50 percent.

The number of homes sold for more than $1 million in California increased 45.1 percent in 2013 against 2012, according to real estate information service DataQuick. Last year, 39,175 homes sold over the million dollar mark versus 2012's 26,993 homes. Of those homes, 10,602 were bought with cash. Those homes that were financed in this price bracket had a median down payment of 30 percent.

Pro Teck Valuation Services released on Tuesday January's Home Value Forecast (HVF), a measure of single family residential markets. The company ranked Long Island as the strongest market in the nation, citing its small share of foreclosures as total sales and its comparatively low housing inventory.

As home prices continue to soar year-over-year and commentators draw lines to historical averages, Clear Capital offers one piece of advice to all those waiting to see a national peak anytime soon: Don’t hold your breath. In its latest Home Data Index Market Report, the company says the market won’t reach peak prices again until 2021 at its current rate of growth.

While homeowners are feeling more confident about the prospect of selling their homes, they do harbor concerns regarding the availability of home financing and the low inventory available for their next purchases, according to the Redfin Real-Time Seller Survey released Tuesday.