January 2016 Script - The Judi Wright Team · January 2016 January 2017 January 2018 January 2019 January 2020 January 2021 $42,075 Increased home equity based on price appreciation

JANUARY 2016

NAR 1/2016

EXISTINGHome Sales

Since January 2014

Chart1

Jan 2014

Feb

Mar

Apr

May

Jun

July

Aug

Sept

Oct

Nov

Dec

Jan 2015

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Series 1

4620000

4600000

4590000

4660000

4910000

5030000

5140000

5050000

5180000

5250000

4930000

5070000

4820000

4890000

5190000

5090000

5320000

5480000

5580000

5300000

5550000

5320000

4760000

Sheet1

Series 1

Jan 20144,620,000

Feb4,600,000

Mar4,590,000

Apr4,660,000

May4,910,000

Jun5,030,000

July5,140,000

Aug5,050,000

Sept5,180,000

Oct5,250,000

Nov4,930,000

Dec5,070,000

Jan 20154,820,000

Feb4,890,000

Mar5,190,000

Apr5,090,000

May5,320,000

Jun5,480,000

Jul5,580,000

Aug5,300,000

Sep5,550,000

Oct5,320,000

Nov4,760,000

Y-O-Y by regionEXISTING Home Sales

Northeast

NAR 1/2016

Chart1

U.S.

Northeast

South

Midwest

West

Series 1

1.5%

-5.7%

-2.7%

-4.8%

-0.038

0.015

-0.057

-0.027

-0.048

Sheet1

Series 1

U.S.-3.8%

Northeast1.5%

South-5.7%West0.064

Midwest-2.7%Midwest0.13

West-4.8%South0.036

To resize chart data range, drag lower right corner of range.

Average days needed to close a loan…49 days is the longest time needed to close a loan since February 2013.

All closed loans as per Ellie Mae

Chart1

June

July

August

September

October

November

Series 1

48

48

47

46

46

49

Sheet1

Series 1

June48

July48

August47

September46

October46

November49


New Home Sales Annualizedin thousands

Chart1

Jun-14

Jul

Aug

Sep

Oct

Nov

Dec

Jan-15

Feb

Mar

Apr

May

Jun

Jul

Aug

Sept

Oct

Nov

Column1

408

403

454

459

472

449

495

521

545

485

508

513

469

500

507

442

470

490

Sheet1

Column1

Jun-14408

Jul403

Aug454

Sep459

Oct472

Nov449

Dec495

Jan-15521

Feb545

Mar485

Apr508

May513

Jun469

Jul500

Aug507

Sept442

Oct470

Nov490

NAR

Number of Home SalesJanuary through November

in millions

Chart1

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

Series 1

6.01

4.7

3.82

3.99

3.84

3.91

4.28

4.7

4.52

4.82

Sheet1

Series 1

20066.01

20074.7

20083.82

20093.99

20103.84

20113.91

20124.28

20134.7

20144.52

20154.82


Foot Traffic

NAR 1/2016

indicator of future sales

Chart1

September

October

November

Series 1

53.7

57.1

59.7

Sheet1

Series 1

September53.7

October57.1

November59.7

2015 Return on Investment

SP 500

NASDAQ REAL ESTATEVALUES

Stocks

Precious Metals

-.7%

GoldPrice.org, CNBC, CoreLogic

Chart1

Silver

Gold

Dow Jones

-0.007

NASDAQ

Home Prices

Series 1

-11.5%

-10.4%

-2.2%

5.7%

6.8%

-0.115

-0.104

-0.022

0.057

0.068

Sheet1

Series 1

Silver-11.5%

Gold-10.4%

Dow Jones-2.2%

-0.7%

NASDAQ5.7%

Home Prices6.8%

NAR’s December 2015 H.O.M.E. Survey

HousingOpportunities &

MarketExperience

H.O.M.E.


Homeownership is a Good Financial Decision by age of household head

Chart1

All U.S. Households

34 or under

35 to 44

45 to 54

55 to 64

65 or over

Series 1

0.88

0.85

0.86

0.9

0.89

0.91

Sheet1

Series 1

All U.S. Households88%

34 or under85%

35 to 4486%

45 to 5490%

55 to 6489%

65 or over91%



Homeownership is Part of the American Dream by household income

87% 83% 85% 87%90% 88% 91%

Chart1

All HouseholdsAll Households

Under $30KUnder $30K

$30-50K$30-50K

$50-75K$50-75K

$75-100K$75-100K

$100-200K$100-200K

More than $200KMore than $200K

Strongly Agree

Moderately Agree

0.72

0.15

0.69

0.14

0.71

0.14

0.75

0.12

0.73

0.17

0.72

0.16

0.76

0.15

Sheet1

Strongly AgreeModerately Agree

All Households72%15%

Under $30K69%14%

$30-50K71%14%

$50-75K75%12%

$75-100K73%17%

$100-200K72%16%

More than $200K76%15%


Among all U.S. households who believe homeownership is part

of their American Dream, the most appealing aspects of

homeownership were…

Chart1

A place to raise a family

Owning a place of your own

A nest egg for retirement

Financial security now

Being Part of a community

Settling down

Series 1

0.36

0.26

0.14

0.13

0.08

0.04

Sheet1

Series 1Series 2Series 3

A place to raise a family36%

Owning a place of your own26%

A nest egg for retirement14%

Financial security now13%

Being Part of a community8%

Settling down4%



Why Homeowner Purchased a Home

Chart1

Lifestyle: marriage, having a child, retirement

Desire to settle down in one location

Improvement in financial situation

Better/more stable employment

Series 1

0.35

0.18

0.15

0.07

Sheet1


Lifestyle: marriage, having a child, retirement35%

Desire to settle down in one location18%

Improvement in financial situation15%

Better/more stable employment7%


% of Americans who say homeownership is part of achieving their PERSONAL AMERICAN DREAM

Trulia

Chart1

20112011

20122012

20132013

20142014

20152015

All U.S. Adults

18-34 Year-Olds

75%

0.7

0.65

0.72

0.72

0.74

0.73

0.74

0.78

0.75

0.8

Sheet1

All U.S. Adults18-34 Year-Olds

201170%65%

201272%72%

201374%73%

201474%78%

201575%80%


Top Concern of Home Buyers

Zillow

Chart1

Low Inventory

Saving for a Down Payment

Rising Mortgage Rates

Series 1

19%

14%

0.29

0.19

0.14

Sheet1

Series 1

Low Inventory29%

Saving for a Down Payment19%

Rising Mortgage Rates14%


NAR 1/2016

2015 Inventory Levels Compared to last year

HOUSINGSUPPLY

Chart1

Jan

Feb

March

April

May

June

July

August

Sept

Oct

Nov

%

-0.50%

-0.50%

2%

-0.90%

0.40%

-4.7%

-1.7%

-3.1%

-0.005

-0.005

0.02

-0.009

0.018

0.004

-0.047

-0.017

-0.031

-0.045

-0.019

Sheet1

%

Jan-0.5%

Feb-0.5%

March2.0%

April-0.9%

May1.8%

June0.4%

July-4.7%

August-1.7%

Sept-3.1%

Oct-4.5%

Nov-1.9%

Percentage of Distressed Property

Sales

35%

9%9%

NAR 1/2016

January 2012 - Today

Chart1

Jan 2012

0.34

0.29

0.28

0.25

0.25

0.24

0.22

0.24

0.24

0.22

0.24

Jan 2013

0.25

0.21

0.18

0.18

0.15

0.15

0.12

0.14

0.14

0.14

0.14

Jan 2014

0.16

0.14

0.15

0.11

0.11

0.09

0.08

0.1

0.09

0.09

0.11

Jan 2015

0.11

0.1

0.1

0.1

0.08

0.07

0.07

0.07

0.06

November

Series 1

0.35

0.23

0.15

0.11

0.09

Sheet1

Series 1

Jan 201235%

34%

29%

28%

25%

25%

24%

22%

24%

24%

22%

24%

Jan 201323%

25%

21%

18%

18%

15%

15%

12%

14%

14%

14%

14%

Jan 201415%

16%

14%

15%

11%

11%

9%

8%

10%

9%

9%

11%

Jan 201511%

11%

10%

10%

10%

8%

7%

7%

7%

6%

November9%

CoreLogic

Foreclosure Inventory by State

Calculated Risk:“Low inventory is probably holding down sales in many areas.”

Capital Economics:“A lack of housing inventory continues to drive developments in the market. As demand has slowly recovered, low inventory levels have weighed on home sales and put upward pressure on house prices.”

Frank Nothaft, chief economist for CoreLogic:“Many markets have experienced a low inventory of homes for sale along with strong buyer demand, which is sustaining upward pressure on home prices. These conditions are likely to persist as we enter 2016.”

Doug Duncan, chief economist at Fannie Mae:“Several factors point to constrained housing affordability in 2016, particularly for first-time home buyers, including slow single-family supply response and limited inventory of starter homes on the market.”

Lawrence Yun, chief economist at NAR:“Sparse inventory and affordability issues continue to impede a large pool of buyers’ ability to buy, which is holding back sales.”

Top Concern of Home Buyers

Zillow

Chart1

Low Inventory

Saving for a Down Payment

Rising Mortgage Rates

Series 1

19%

14%

0.29

0.19

0.14

Sheet1

Series 1

Low Inventory29%

Saving for a Down Payment19%

Rising Mortgage Rates14%


Quarter Fannie MaeFreddie

Mac MBA NARAverage

of all four

2016 1Q 4.0% 4.1% 4.2% 4.1% 4.10%

2016 2Q 4.0% 4.3% 4.4% 4.3% 4.25%

2016 3Q 4.1% 4.5% 4.6% 4.6% 4.45%

2016 4Q 4.1% 4.7% 4.8% 4.9% 4.63%

Mortgage Rate Projections

1/2016

Where Are They Going in 2016

2016 Q1

2016 Q2

2016 Q3

2016 Q4

Where They Were in 2015

Freddie Mac

Mortgage RatesFreddie Mac 30 Year Fixed Rate

Chart1

2015 3Q

2015 4Q

2016 1Q

2016 2Q

Series 1

4.1

4.3

4.5

4.7

Sheet1

Series 1

2015 3Q4.1

2015 4Q4.3

2016 1Q4.5

2016 2Q4.7

Chart1

42005

42012

42019

42026

42033

42040

42047

42054

42061

42068

42075

42082

42089

42096

42103

42110

42117

42124

42131

42138

42145

42152

42159

42166

42173

42180

42187

42194

42201

42208

42215

42222

42229

42236

42243

42250

42257

42264

42271

42278

42285

42292

42299

42306

42313

42320

42327

42334

42341

42348

42355

42362

Series 1

3.87

3.73

3.66

3.63

3.66

3.59

3.69

3.76

3.8

3.75

3.86

3.78

3.69

3.7

3.66

3.67

3.65

3.68

3.8

3.85

3.84

3.87

3.87

4.04

4

4.08

4.08

4.04

4.09

4.04

3.98

3.91

3.94

3.93

3.84

3.89

3.9

3.91

3.86

3.85

3.76

3.82

3.79

3.76

3.87

3.98

3.97

3.95

3.93

3.95

3.97

3.96

Sheet1

Series 1

1/1/153.87

1/8/153.73

1/15/153.66

1/22/153.63

1/29/153.66

2/5/153.59

2/12/153.69

2/19/153.76

2/26/153.8

3/5/153.75

3/12/153.86

3/19/153.78

3/26/153.69

4/2/153.7

4/9/153.66

4/16/153.67

4/23/153.65

4/30/153.68

5/7/153.8

5/14/153.85

5/21/153.84

5/28/153.87

6/4/153.87

6/11/154.04

6/18/154

6/25/154.08

7/2/154.08

7/9/154.04

7/16/154.09

7/23/154.04

7/30/153.98

8/6/153.91

8/13/153.94

8/20/153.93

8/27/153.84

9/3/153.89

9/10/153.9

9/17/153.91

9/24/153.86

10/1/153.85

10/8/153.76

10/15/153.82

10/22/153.79

10/29/153.76

11/5/153.87

11/12/153.98

11/19/153.97

11/26/153.95

12/3/153.93

12/10/153.95

12/17/153.97

12/24/153.96

Which Group is Most Sensitive to Interest Rates?

First American Real Estate Sentiment Index

Chart1

First Time Buyers

"Move Up" Buyers

Second Home/Vacation Buyers

Luxury Buyers

Series 1

0.685

0.22

0.07

0.025

Sheet1

Series 1

First Time Buyers68.5%

"Move Up" Buyers22%

Second Home/Vacation Buyers7%

Luxury Buyers2.5%


The Impact of Mortgage Rates Jumping from 4 to 4.5%

Zillow

Chart1

% of buyers that will continue with their home buying plans

% that would reconsider a smaller home or less expensive community

Series 1

45%

0.7

0.45

Sheet1

Series 1

% of buyers that will continue with their home buying plans70%

% that would reconsider a smaller home or less expensive community45%


RealtyTrac

% of U.S. counties that would be unaffordable by their own historical affordability standards

Chart1

At Current Rate

At 4%

At 4.25%

At 4.5%

At 5%

Series 1

0.03

0.13

0.16

0.19

0.26

Sheet1

Series 1

At Current Rate3%

At 4%13%

At 4.25%16%

At 4.5%19%

At 5%26%


Mike Fratantoni, MBA's Chief Economist

MBA has been projecting a rate increase all year and we have factored rising mortgage rates into our 2016 mortgage finance forecast. Due to the strength of the economy, we still project 10% growth in the purchase market in 2016, despite gradually increasing rates. Overall, mortgage origination volume will be down next year due to a reduction in refinances, but the positive impact of the improving economy on home purchases will offset the reduction.

Top 4 Reasons It Is Difficult to Get a Mortgage

FannieMae

Chart1

Sheet1

Sales

21%+4%

20%11%

11-19%4%

6-10%21%

1-5%16%

0%3%

Don't Know40%

Chart1

Insufficient Income

Insufficient Credit Score

Too much debt

Down Payment

Series 1

0.21

0.2

0.17

0.16

Sheet1

Series 1

Insufficient Income21%

Insufficient Credit Score20%

Too much debt17%

Down Payment16%


Perceived Minimum Credit Score REQUIRED by Lenders

FannieMae

Chart1

Don't Know

Think You Need at Least 740

Series 1

54%

0.54

0.05

Sheet1

Series 1

Don't Know54%

Think You Need at Least 7405%



Average FICO Scorefor Closed Purchase Loans

by Loan Type

Chart1

All Loans

Conventional

FHA

VA

Series 1

754

721

754

687

706

Sheet1

Series 1

All Loans721

Conventional754

FHA687

VA706


FICO Score Requirements begin to inch downward

2015


Chart1

January

February

March

April

May

June

July

August

September

October

November

Series 1

731

732

731

729

730

727

725

724

723

722

721

Sheet1


January7312.42

February7324.42

March7311.83

April7292.85

May730

June727

July725

August724

September723

October722

November721

Perceived Minimum Back End DTI REQUIRED by Lenders

FannieMae

Chart1

Don't Know

Think You Need Less Than 25%

Think You Need Less Than 39%

Series 1

59%

0.59

0.25

0.07

Sheet1

Series 1

Don't Know59%

Think You Need Less Than 25%25%

Think You Need Less Than 39%7%


Average Back End DTIfor Closed Purchase Loansby Loan Type


Chart1

All Loans

Conventional

FHA

VA

Series 1

35

39

35

42

40

Sheet1

Series 1

All Loans39

Conventional35

FHA42

VA40


Perceived Minimum Down Payment REQUIRED by Lenders

FannieMae

Chart1

Don't Know



Series 1

40%

0.4

0.15

0.21

Sheet1

Series 1

Don't Know40%

Think You Need at Least 20%15%

Think You Need at Least 10%21%


Average Down Paymentfor Closed Purchase Loans

by Loan Type


Chart1

All Loans

Conventional

FHA

VA

Series 1

31%

0.21

0.31

0.04

0.02

Sheet1

Series 1

All Loans21%

Conventional31%

FHA4%

VA2%


Typical Down Payment

NAR

Chart1

All Buyers

Repeat Buyers

1st Time Buyers

Series 1

0.1

0.14

0.06

Sheet1


All Buyers10%2.42

Repeat Buyers14%4.42

1st Time Buyers6%1.83

Category 44.52.85


Builder.com

Years Needed To Save 10% DownBy State Median Income & Home Price

UNITED STATESalmost 8 years

KCM with data provided by Builder.com

Years Needed To Save 3% DownBy State Median Income & Home Price

Mortgage Credit Availability Index (MCAI), a report from the Mortgage Bankers Association

Mortgage Credit Availability

Chart1

April 2013

108.9

109.8

112.3

111.5

110.7

111.5

110.2

110.9

Jan 2014

113.5

114

113.8

115.1

115.8

116.4

116.1

116.1

113.4

114.6

115.7

Jan 2015

118.6

121.4

122

122.6

122

125.5

126.1

126.5

October

Series 1

108.6

113

117.8

128.4

Sheet1

Series 1

April 2013108.6

108.9

109.8

112.3

111.5

110.7

111.5

110.2

110.9

Jan 2014113

113.5

114

113.8

115.1

115.8

116.4

116.1

116.1

113.4

114.6

115.7

Jan 2015117.8

118.6

121.4

122

122.6

122

125.5

126.1

126.5

October128.4

1. Lenders continue to report expectations to ease credit standards over the next three months … with the net percentage of lenders reporting easingexpectations reaching a new survey high.

2. More lenders reported easing of credit standardsthan tightening them over the prior three monthsacross all loan types, continuing a trend seenthroughout the year.

2015 4Q Mortgage Lender Sentiment Survey

FannieMae

Home Price Expectation

Survey

A nationwide panel of over one hundred

economists, real estate experts and investment

& market strategists.

Average Annual % APPRECIATION

Pre-Bubble

Bubble

Bust

RecoveryTo Date

Home Price Expectation Survey 2015 4Q

Chart1

1987 - 1999

Jan 2000 - May 2007

Jun 2007 - Dec 2011

Jan 2012 - Sep 2015

Series 1

3.6

6.9

-5.2

4

Sheet1

Series 1

1987 - 19993.6

Jan 2000 - May 20076.9

Jun 2007 - Dec 2011-5.2

Jan 2012 - Sep 20154

PROJECTEDMean Percentage Appreciation


Chart1

2015

2016

2017

2018

2019

2020

Series 1

3.4

3.9

3.4

3.1

3.1

3.1

3.1

Sheet1

Series 1201520162017201820192020

20153.93.893.413.133.133.113.05

20163.43.93.43.13.13.13.1

20173.1

20183.1

20193.1

20203.1

Cumulative House Appreciation

by 2020

Bulls All Projections Bears

30.4%


Chart1

Bulls

All Projections

Bears

Series 1

0.304

0.216

0.138

Sheet1

Series 1

Bulls30.4%

All Projections21.6%

Bears13.8%


CoreLogic 12/2015

Forecasted Year-Over-Year % Change in Price by State

First American

The Real Estate Sentiment Index (RESI) also measures title agent sentiment on reasons for title policy order cancellations. The fourth quarter RESI found that title agents continue to believe that property valuation issues will be the most likely cause of title order cancellation over the coming year.

Quicken Loans

Appraiser Home Value Opinions Compared to Homeowner Estimates

2015

Chart1

January

February

March

April

May

June

July

August

September

October

November

December

%

1.43

0.18

-0.13

-0.4

-0.69

-1.15

-1.4

-2.33

-2.65

-2

-1.98

-1.87

Sheet1

%

January1.43

February0.18

March-0.13

April-0.4

May-0.69

June-1.15

July-1.4

August-2.33

September-2.65

October-2

November-1.98

December-1.87


$250,000

$258,500

$266,514

$274,775

$284,293

$292,075

January 2016 January 2017 January 2018 January 2019 January 2020 January 2021

$42,075

Increased home equity based on price appreciation projected by the Home Price Expectation Survey

potential growth in family wealth over the next fiveyears based solely on increased home equity


Chart1

January 2016

January 2017

January 2018

January 2019

January 2020

January 2021

Series 1

250000

258500

266514

274775

284293

292075

Sheet1

Series 1

January 2016$250,000

January 2017$258,500

January 2018$266,514

January 2019$274,775

January 2020$284,293

January 2021$292,075


Forbes

Median Years of Homeowner Tenure before Moving

Pent-Up Seller Demand

Chart1

2001

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

Series 1

6

6

6

6

6

6

6

7

8

9

9

9

10

9

Sheet1

Series 1

20016

20036

20046

20056

20066

20076

20086

20097

20108

20119

20129

20139

201410

20159


CoreLogic

Percentage of Homes with Positive Equity by State

Lawrence Yun, NAR’s Chief Economist

There are still many homeowners in the wrong home (as life events have affected their living situation) and they will naturally be seekingto find the right home.

from May 2011 until Today

HPSI

Fannie Mae’s Home Purchase Sentiment Index(HPSI)

The HPSI distills results from Fannie Mae’s consumer-focused National Housing Survey into a single, monthly, predictive indicator.

Fannie Mae

Chart1

Mar-11

Apr-11

May-11

Jun-11

Jul-11

Aug-11

Sep-11

Oct-11

Nov-11

Dec-11

Jan-12

Feb-12

Mar-12

Apr-12

May-12

Jun-12

Jul-12

Aug-12

Sep-12

Oct-12

Nov-12

Dec-12

Jan-13

Feb-13

Mar-13

Apr-13

May-13

Jun-13

Jul-13

Aug-13

Sep-13

Oct-13

Nov-13

Dec-13

Jan-14

Feb-14

Mar-14

Apr-14

May-14

Jun-14

Jul-14

Aug-14

Sep-14

Oct-14

Nov-14

Dec-14

Jan-15

Feb-15

Mar-15

Apr-15

May-15

Jun-15

Jul-15

Aug-15

Sep-15

Oct-15

Nov-15

Series 1

60

62.5

60.3

61

60

59.3

60.2

61.2

61.7

63.5

66.2

66.3

66.2

68.2

69.3

68.5

69.5

68

71.8

72.3

71.7

72.8

73.5

73.7

74.2

77.3

82.2

79.3

77.7

78.3

78.3

72.5

72.8

72.7

76.5

75

77.7

82.7

81.5

79.8

79

75.5

80.2

82.5

81

81.3

82.8

81.5

81.7

82.3

84.3

84.7

81.3

80.8

83.8

83.2

80.8

Sheet1

Series 1Series 2

Mar-1160.012

Apr-1162.512

May-1160.312

Jun-1161.021

Jul-1160.028

Aug-1159.3

Sep-1160.2

Oct-1161.2

Nov-1161.7

Dec-1163.5

Jan-1266.2

Feb-1266.3

Mar-1266.2

Apr-1268.2

May-1269.3

Jun-1268.5

Jul-1269.5

Aug-1268.0

Sep-1271.8

Oct-1272.3

Nov-1271.7

Dec-1272.8

Jan-1373.5

Feb-1373.7

Mar-1374.2

Apr-1377.3

May-1382.2

Jun-1379.3

Jul-1377.7

Aug-1378.3

Sep-1378.3

Oct-1372.5

Nov-1372.8

Dec-1372.7

Jan-1476.5

Feb-1475.0

Mar-1477.7

Apr-1482.7

May-1481.5

Jun-1479.8

Jul-1479.0

Aug-1475.5

Sep-1480.2

Oct-1482.5

Nov-1481.0

Dec-1481.3

Jan-1582.8

Feb-1581.5

Mar-1581.7

Apr-1582.3

May-1584.3

Jun-1584.7

Jul-1581.3

Aug-1580.8

Sep-1583.8

Oct-1583.2

Nov-1580.8


…according to the First-Time Buyer Mortgage Share Index by AEI’s International Center on Housing Risk

52% of all buyers were first time buyers this monthAEI’s International Center on Housing Risk

First Time Home Buyers

Number of primary owner-occupied, first-time buyerpurchase mortgages

19% increase

AEI’s International Center on Housing Risk

Chart1

November 2014

November 2015

Series 1

113.5K

135K

113500

135000

Sheet1

Series 1

November 2014113,500

November 2015135,000


Freddie Mac 1/2016

30 Year Fixed Rate Mortgages

Freddie Mac Actual Rates

January 2013 – January 2016

Chart1

41277

41284

41291

41298

41305

41312

41319

41326

41333

41340

41347

41354

41361

41368

41375

41382

41389

41396

41403

41410

41417

41424

41431

41438

41445

41452

41459

41466

41473

41480

41487

41494

41501

41508

41515

41522

41529

41536

41543

41550

41557

41564

41571

41578

41585

41592

41599

41606

41613

41620

41627

41634

41641

41648

41655

41662

41669

41676

41683

41690

41697

41704

41711

41718

41725

41732

41739

41746

41753

41760

41767

41774

41781

41788

41795

41802

41809

41816

41823

41830

41837

41844

41851

41858

41865

41872

41879

41886

41893

41900

41907

41914

41921

41928

41935

41942

41949

41956

41963

41970

41977

41984

41991

41998

42005

42012

42019

42026

42033

42040

42047

42054

42061

42068

42075

42082

42089

42096

42103

42110

42117

42124

42131

42138

42145

42152

42159

42166

42173

42180

42187

42194

42201

42208

42215

42222

42229

42236

42243

42250

42257

42264

42271

42278

42285

42292

42299

42306

42313

42320

42327

42334

42341

42348

42355

42362

42369

Series 1

3.34

3.4

3.38

3.42

3.53

3.53

3.53

3.56

3.51

3.52

3.63

3.53

3.57

3.54

3.43

3.41

3.4

3.35

3.42

3.51

3.59

3.81

3.91

3.98

3.93

4.46

4.29

4.51

4.37

4.31

4.39

4.4

4.4

4.58

4.51

4.57

4.57

4.5

4.32

4.22

4.23

4.28

4.13

4.1

4.16

4.35

4.22

4.29

4.46

4.42

4.47

4.48

4.53

4.51

4.41

4.39

4.32

4.23

4.28

4.33

4.37

4.28

4.37

4.32

4.4

4.41

4.34

4.27

4.33

4.29

4.21

4.2

4.14

4.12

4.14

4.2

4.17

4.14

4.12

4.15

4.13

4.13

4.12

4.14

4.12

4.1

4.1

4.1

4.12

4.23

4.2

4.19

4.12

3.97

3.92

3.98

4.02

4.01

3.99

3.97

3.89

3.93

3.8

3.83

3.87

3.73

3.66

3.63

3.66

3.59

3.69

3.76

3.8

3.75

3.86

3.78

3.69

3.7

3.66

3.67

3.65

3.68

3.8

3.85

3.84

3.87

3.87

4.04

4

4.02

4.08

4.04

4.09

4.04

3.98

3.91

3.94

3.93

3.84

3.89

3.9

3.91

3.86

3.85

3.76

3.82

3.79

3.76

3.87

3.98

3.97

3.95

3.93

3.95

3.97

3.96

4.01

Sheet1

Series 1

1/3/133.34

1/10/133.4

1/17/133.38

1/24/133.42

1/31/133.53

2/7/133.53

2/14/133.53

2/21/133.56

2/28/133.51

3/7/133.52

3/14/133.63

3/21/133.53

3/28/133.57

4/4/133.54

4/11/133.43

4/18/133.41

4/25/133.4

5/2/133.35

5/9/133.42

5/16/133.51

5/23/133.59

5/30/133.81

6/6/133.91

6/13/133.98

6/20/133.93

6/27/134.46

7/4/134.29

7/11/134.51

7/18/134.37

7/25/134.31

8/1/134.39

8/8/134.4

8/15/134.4

8/22/134.58

8/29/134.51

9/5/134.57

9/12/134.57

9/19/134.5

9/26/134.32

10/3/134.22

10/10/134.23

10/17/134.28

10/24/134.13

10/31/134.1

11/7/134.16

11/14/134.35

11/21/134.22

11/28/134.29

12/5/134.46

12/12/134.42

12/19/134.47

12/26/134.48

1/2/144.53

1/9/144.51

1/16/144.41

1/23/144.39

1/30/144.32

2/6/144.23

2/13/144.28

2/20/144.33

2/27/144.37

3/6/144.28

3/13/144.37

3/20/144.32

3/27/144.4

4/3/144.41

4/10/144.34

4/17/144.27

4/24/144.33

5/1/144.29

5/8/144.21

5/15/144.2

5/22/144.14

5/29/144.12

6/5/144.14

6/12/144.2

6/19/144.17

6/26/144.14

7/3/144.12

7/10/144.15

7/17/144.13

7/24/144.13

7/31/144.12

8/7/144.14

8/14/144.12

8/21/144.1

8/28/144.1

9/4/144.1

9/11/144.12

9/18/144.23

9/25/144.2

10/2/144.19

10/9/144.12

10/16/143.97

10/23/143.92

10/30/143.98

11/6/144.02

11/13/144.01

11/20/143.99

11/27/143.97

12/4/143.89

12/11/143.93

12/18/143.8

12/25/143.83

1/1/153.87

1/8/153.73

1/15/153.66

1/22/153.63

1/29/153.66

2/5/153.59

2/12/153.69

2/19/153.76

2/26/153.8

3/5/153.75

3/12/153.86

3/19/153.78

3/26/153.69

4/2/153.7

4/9/153.66

4/16/153.67

4/23/153.65

4/30/153.68

5/7/153.8

5/14/153.85

5/21/153.84

5/28/153.87

6/4/153.87

6/11/154.04

6/18/154

6/25/154.02

7/2/154.08

7/9/154.04

7/16/154.09

7/23/154.04

7/30/153.98

8/6/153.91

8/13/153.94

8/20/153.93

8/27/153.84

9/3/153.89

9/10/153.9

9/17/153.91

9/24/153.86

10/1/153.85

10/8/153.76

10/15/153.82

10/22/153.79

10/29/153.76

11/5/153.87

11/12/153.98

11/19/153.97

11/26/153.95

12/3/153.93

12/10/153.95

12/17/153.97

12/24/153.96

12/31/154.01

30 Year Fixed Rate Mortgages

Freddie Mac Actual Rates

2015

Freddie Mac 1/2016

Chart1

42005

42012

42019

42026

42033

42040

42047

42054

42061

42068

42075

42082

42089

42096

42103

42110

42117

42124

42131

42138

42145

42152

42159

42166

42173

42180

42187

42194

42201

42208

42215

42222

42229

42236

42243

42250

42257

42264

42271

42278

42285

42292

42299

42306

42313

42320

42327

42334

42341

42348

42355

42362

42369

Series 1

3.87

3.73

3.66

3.63

3.66

3.59

3.69

3.76

3.8

3.75

3.86

3.78

3.69

3.7

3.66

3.67

3.65

3.68

3.8

3.85

3.84

3.87

3.87

4.04

4

4.02

4.08

4.04

4.09

4.04

3.98

3.91

3.94

3.93

3.84

3.89

3.9

3.91

3.86

3.85

3.76

3.82

3.79

3.76

3.87

3.98

3.97

3.95

3.93

3.95

3.97

3.96

4.01

Sheet1

Series 1

1/1/153.87

1/8/153.73

1/15/153.66

1/22/153.63

1/29/153.66

2/5/153.59

2/12/153.69

2/19/153.76

2/26/153.8

3/5/153.75

3/12/153.86

3/19/153.78

3/26/153.69

4/2/153.7

4/9/153.66

4/16/153.67

4/23/153.65

4/30/153.68

5/7/153.8

5/14/153.85

5/21/153.84

5/28/153.87

6/4/153.87

6/11/154.04

6/18/154

6/25/154.02

7/2/154.08

7/9/154.04

7/16/154.09

7/23/154.04

7/30/153.98

8/6/153.91

8/13/153.94

8/20/153.93

8/27/153.84

9/3/153.89

9/10/153.9

9/17/153.91

9/24/153.86

10/1/153.85

10/8/153.76

10/15/153.82

10/22/153.79

10/29/153.76

11/5/153.87

11/12/153.98

11/19/153.97

11/26/153.95

12/3/153.93

12/10/153.95

12/17/153.97

12/24/153.96

12/31/154.01

Home Prices

S&P Case Shiller 1/2016

Year-Over-Year

PRICECHANGES

Case Shiller

Chart1

June 2012

0.011

0.02

0.036

0.043

0.055

0.068

January 2013

0.093

0.102

0.121

0.122

0.121

0.124

0.128

0.133

0.136

0.137

0.136

January 2014

0.129

0.124

0.108

0.093

0.081

0.067

0.056

0.048

0.045

0.043

0.044

Jan 2015

0.05

0.05

0.049

0.049

0.05

0.05

0.047

0.054

October

Year-over-Year Change in Prices

0.006

0.081

0.132

0.046

0.055

Sheet1


June 20120.6%

1.1%

2.0%

3.6%

4.3%

5.5%

6.8%

January 20138.1%

9.3%

10.2%

12.1%

12.2%

12.1%

12.4%

12.8%

13.3%

13.6%

13.7%

13.6%

January 201413.2%

12.9%

12.4%

10.8%

9.3%

8.1%

6.7%

5.6%

4.8%

4.5%

4.3%

4.4%

Jan 20154.6%

5.0%

5.0%

4.9%

4.9%

5.0%

5.0%

4.7%

5.4%

October5.5%

Year-Over-Year PRICE CHANGES20 City Composite

Case Shiller

S&P Case Shiller 1/2016

Chart1

Jan 2014

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Jan 2015

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct


4.8%

4.3%

4.5%

4.6%

5.0%

4.7%

5.4%

5.5%

0.132

0.129

0.124

0.108

0.093

0.081

0.067

0.056

0.048

0.045

0.043

0.044

0.046

0.05

0.05

0.049

0.049

0.05

0.05

0.047

0.054

0.055

Sheet1


Jan 201413.2%

Feb12.9%

Mar12.4%

Apr10.8%

May9.3%

Jun8.1%

Jul6.7%

Aug5.6%

Sep4.8%

Oct4.5%

Nov4.3%

Dec4.4%

Jan 20154.6%

Feb5.0%

Mar5.0%

Apr4.9%

May4.9%

Jun5.0%

Jul5.0%

Aug4.7%

Sep5.4%

Oct5.5%

Y-O-Y by region

EXISTING Home Prices

NAR 1/2016

Chart1

U.S.

South

West

Northeast

Midwest

Series 1

6.3%

6.3%

8.3%

3.2%

5.3%

0.063

0.063

0.083

0.032

0.053

Sheet1

Series 1

U.S.6.3%

South6.3%

West8.3%West0.064

Northeast3.2%Midwest0.13

Midwest5.3%South0.036


NAR 1/2016

EXISTINGHome Sales

Since January 2012

Chart1

Jan 2012

4520000

4460000

4530000

4590000

4410000

4600000

4840000

4780000

4830000

4960000

4900000

Jan 2013

4950000

4940000

4970000

5140000

5060000

5390000

5390000

5290000

5120000

4820000

4870000

Jan 2014

4600000

4590000

4660000

4910000

5030000

5140000

5050000

5180000

5250000

4930000

5070000

Jan 2015

4880000

5210000

5090000

5320000

5480000

5580000

5300000

5550000

5320000

November

Series 1

4510000

4940000

4620000

4820000

4760000

Sheet1

Series 1

Jan 20124,510,000

4,520,000

4,460,000

4,530,000

4,590,000

4,410,000

4,600,000

4,840,000

4,780,000

4,830,000

4,960,000

4,900,000

Jan 20134,940,000

4,950,000

4,940,000

4,970,000

5,140,000

5,060,000

5,390,000

5,390,000

5,290,000

5,120,000

4,820,000

4,870,000

Jan 20144,620,000

4,600,000

4,590,000

4,660,000

4,910,000

5,030,000

5,140,000

5,050,000

5,180,000

5,250,000

4,930,000

5,070,000

Jan 20154,820,000

4,880,000

5,210,000

5,090,000

5,320,000

5,480,000

5,580,000

5,300,000

5,550,000

5,320,000

November4,760,000

% Change in Sales from last yearby Price Range

NAR 1/2016

Chart1

$0-100K

$100-250K

$250-500K

$500-750K

$750K-1M

$1M+

%

-.9%

10.9%

13.3%

11.9%

10.4%

-0.068

-0.009

0.109

0.133

0.119

0.104

Sheet1

%

$0-100K-6.8%

$100-250K-0.9%

$250-500K10.9%

$500-750K13.3%

$750K-1M11.9%

$1M+10.4%


Existing Home Sales in thousands

Freddie Mac

Chart1

JanuaryJanuary

FebruaryFebruary

MarchMarch

AprilApril

MayMay

JuneJune

JulyJuly

AugustAugust

SeptemberSeptember

OctoberOctober

NovemberNovember

DecemberDecember

2014

2015

281

281

282

295

355

405

422

449

473

495

506

572

494

552

479

504

436

471

443

444

351

351

413

Sheet1

20142015

January281281

February282295

March355405

April422449

May473495

June506572

July494552

August479504

September436471

October443444

November351351

December413

100 = Historically Healthy Level

PENDING Home Salessince 2012

NAR 1/2016

Chart1

January 2012

96.6345105627

98.82151027

95.5249637759

100.1966054194

100.0200268269

102.6317368513

101.8134295223

102.8090451717

103.7771729578

103.3187353492

101.3

January 2013

104.1

105.7

105.2

111.3

110.9

109.4

107.6

102.7

101.5

101.2

94.9

January 2014

94.2

97.4

97.8

101.9

101.8

103.2

103

103.8

103.8

104

102.5

January 2015

107.4

108.7

111.6

112.6

110.4

110.9

109.3

107.5

107.9

106.9

Series 1

96.6859743435

105.2

94.7

103.7

Sheet1

Series 1

January 201296.7

96.6

98.8

95.5

100.2

100.0

102.6

101.8

102.8

103.8

103.3

101.3

January 2013105.2

104.1

105.7

105.2

111.3

110.9

109.4

107.6

102.7

101.5

101.2

94.9

January 201494.7

94.2

97.4

97.8

101.9

101.8

103.2

103.0

103.8

103.8

104.0

102.5

January 2015103.7

107.4

108.7

111.6

112.6

110.4

110.9

109.3

107.5

107.9

106.9

100 = Historically Healthy Level

NAR 1/2016

PENDINGHome Sales

since 2014

Chart1

January 2014

94.2

97.4

97.8

101.9

101.8

103.2

103

103.8

103.8

104

102.5

January 2015

107.4

108.7

111.6

112.6

110.4

110.9

109.3

107.5

107.9

107.5

107.9

November

Series 1

94.7

103.7

106.9

Sheet1

Series 1

January 201494.7

94.2

97.4

97.8

101.9

101.8

103.2

103.0

103.8

103.8

104.0

102.5

January 2015103.7

107.4

108.7

111.6

112.6

110.4

110.9

109.3

107.5

107.9

107.5

107.9

November106.9

PENDING Home SalesYear-over-Year by region

.5%

NAR 1/2016

Chart1

U.S.

Northeast

Midwest

South

West

Series 1

2.7%

4.3%

4.1%

4.1%

4.5%

0.027

0.043

0.041

0.005

0.045

Sheet1

Series 1

U.S.2.7%

Northeast4.3%

Midwest4.1%

South0.5%

West4.5%


13

% of sales by price range

New Home Sales

Chart1

Under $150K

$150-$199K

$200-$299K

$300-$399K

$400-$499K

$500-$749K

Over $750K

Column1

0.03

0.09

0.37

0.21

0.14

0.09

0.07

Sheet1

Column1

Under $150K3%

$150-$199K9%

$200-$299K37%

$300-$399K21%

$400-$499K14%

$500-$749K9%

Over $750K7%

New Home Sales in thousands

Freddie Mac

Chart1

JanuaryJanuary

FebruaryFebruary

MarchMarch

AprilApril

MayMay

JuneJune

JulyJuly

AugustAugust

SeptemberSeptember

OctoberOctober

NovemberNovember

DecemberDecember

2014

2015

33

39

35

45

39

46

39

50

43

48

38

45

35

43

36

43

37

36

38

38

31

34

35

Sheet1

20142015

January3339

February3545

March3946

April3950

May4348

June3845

July3543

August3643

September3736

October3838

November3134

December35

NAR 1/2016

Year-over-Year Inventory Levels

Chart1

Jan

Feb

Mar

Apr

May

June

July

Aug

Sept

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

%

-0.24

-0.208

-0.168

-0.14

-0.13

-0.076

-0.05

-0.062

0.018

0.009

0.05

0.016

0.073

0.053

0.032

0.065

0.06

0.055

0.058

0.045

0.06

0.052

0.05

-0.005

-0.005

-0.005

0.02

-0.009

0.018

0.004

-0.047

-0.017

-0.031

-0.045

-0.019

Sheet1

%

Jan-24%

Feb-20.8%

Mar-16.8%

Apr-14%

May-13%

June-7.6%

July-5%

Aug-6.2%

Sept1.8%

Oct0.9%

Nov5.0%

Dec1.6%

Jan7.3%

Feb5.3%

Mar3.2%

Apr6.5%

May6%

Jun5.5%

Jul5.8%

Aug4.5%

Sep6%

Oct5.2%

Nov5%

Dec-0.50%

Jan-0.50%

Feb-0.50%

Mar2%

Apr-0.90%

May1.80%

Jun0.40%

Jul-4.70%

Aug-1.70%

Sep-3.10%

Oct-4.50%

Nov-1.90%

Months Inventory of HOMES FOR SALE

NAR 1/2016

2011 - Today

Chart1

January 2011

8.6

8.3

9

9.1

9.2

9.5

8.4

8.3

7.7

7

6.2

January 2012

6.4

6.2

6.5

6.4

6.5

6.4

6

5.6

5.4

4.8

4.4

January 2013

4.7

4.6

5.2

5

5.1

5.1

4.9

5

4.9

5.1

4.6

January 2014

5

5.2

5.7

5.5

5.5

5.5

5.5

5.3

5.1

5.1

4.4

January 2015

4.7

4.6

5.2

5.1

5

4.8

5.1

4.8

4.8

5.1

Series 1

7.5

6

4.3

4.9

4.6

Sheet1

Series 1

January 20117.5

8.6

8.3

9.0

9.1

9.2

9.5

8.4

8.3

7.7

7.0

6.2

January 20126.0

6.4

6.2

6.5

6.4

6.5

6.4

6.0

5.6

5.4

4.8

4.4

January 20134.3

4.7

4.6

5.2

5.0

5.1

5.1

4.9

5.0

4.9

5.1

4.6

January 20144.9

5.0

5.2

5.7

5.5

5.5

5.5

5.5

5.3

5.1

5.1

4.4

January 20154.6

4.7

4.6

5.2

5.1

5.0

4.8

5.1

4.8

4.8

5.1


NAR 1/2016

last 2 years

Chart1

Dec

Jan '14

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Jan-15

Feb

Mar

Apr

May

Jun

July

Aug

Sep

Oct

Nov

Series 1

4.6

4.9

5

5.2

5.7

5.5

5.5

5.5

5.5

5.3

5.1

5.1

4.4

4.6

4.7

4.6

5.2

5.1

5

4.9

5.1

4.8

4.8

5.1

Sheet1

Series 1

Dec4.6

Jan '144.9

Feb5.0

Mar5.2

Apr5.7

May5.5

Jun5.5

Jul5.5

Aug5.5

Sep5.3

Oct5.1

Nov5.1

Dec4.4

Jan-154.6

Feb4.7

Mar4.6

Apr5.2

May5.1

Jun5.0

July4.9

Aug5.1

Sep4.8

Oct4.8

Nov5.1

Months Inventory of HOMES FOR SALElast 12 months

NAR 1/2016

Chart1

Dec

Jan-15

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Series 1

4.4

4.6

4.7

4.6

5.2

5.1

5

4.9

5.1

4.8

4.8

5.1

Sheet1

Series 1

Dec4.4

Jan-154.6

Feb4.7

Mar4.6

Apr5.2

May5.1

Jun5.0

Jul4.9

Aug5.1

Sep4.8

Oct4.8

Nov5.1


NAR 1/2016

2015

Chart1

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Series 1

4.9

4.6

4.7

4.6

5.2

5.1

5

4.8

5.1

4.8

4.8

5.1

Sheet1

Series 1

Jan4.6

Feb4.7

Mar4.6

Apr5.2

May5.1

Jun5.0

Jul4.8

Aug5.1

Sep4.8

Oct4.8

Nov5.1

New Home Inventory months supply

Chart1

June 2014

Jul

Aug

Sep

Oct

Nov

Dec

January 2015

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Column1

5.8

6.1

5.4

5.5

5.3

5.6

5.1

4.8

4.5

5.1

4.9

4.9

5.6

5.2

5.1

6.1

5.8

5.7

Sheet1

Column1

June 20145.8

Jul6.1

Aug5.4

Sep5.5

Oct5.3

Nov5.6

Dec5.1

January 20154.8

Feb4.5

Mar5.1

Apr4.9

May4.9

Jun5.6

Jul5.2

Aug5.1

Sep6.1

Oct5.8

Nov5.7

Foot Traffic

NAR 1/2016


Chart1

July 2013

51.2

50

50.6

47.8

27.7

January 2014

26.2

43.9

46.1

44.5

42.5

54.8

57

65.7

61

42.2

62

January 2015

51

61

61

59

68.8

69

72.4

53.7

57.1

November

Series 1

50.6

19.3

59.3

59.7

Sheet1

Series 1

July 201350.6

51.2

50

50.6

47.8

27.7

January 201419.3

26.2

43.9

46.1

44.5

42.5

54.8

57

65.7

61

42.2

62

January 201559.3

51

61

61

59

68.8

69

72.4

53.7

57.1

November59.7

Foot Traffic

NAR 1/2016


Chart1

January 2015

February

March

April

May

June

July

August

September

October

November

Series 1

59.3

51

61

61

59

68.8

69

72.4

53.7

57.1

59.7

Sheet1

Series 1

January 201559.3

February51

March61

April61

May59

June68.8

July69

August72.4

September53.7

October57.1

November59.7

Resources

KEEPINGCURRENTMATTERS.COM

Slide Slide Title Link

4, 8, 9, 18, 19

Existing Home Sales, Number of Sales Jan-Nov, Foot Trafic, Housing Supply, Distressed Sales

http://www.realtor.org

5 Existing Home Sales by Region http://www.realtor.org/news-releases/2015/10/existing-home-sales-regain-momentum-in-september

6 Average Days To Close http://elliemae.com/origination-insight-reports/Ellie_Mae_OIR_NOVEMBER2015.pdf

7, 71, 78 New Home Sales Annual, Price Range, Inventory http://www.census.gov/construction/nrs/pdf/newressales.pdf

10 2015 Return on Investmenthttp://silver-and-gold-prices.goldprice.orghttp://money.cnn.com/2015/12/31/investing/stocks-market-end-of-2015/www.corelogic.com

11 - 15 HOME Survey Results www.realtor.org/news-releases/2015/12/nar-home-survey-desire-to-buy-strong-despite-affordability-economic-concerns

16 Homeownership PersonalAmerican Dream http://www.trulia.com/blog/trends/2016-housing-predictions/#sthash.8V706Kqs.dpuf

17, 22 Top Concern Buyers http://zillow.mediaroom.com/index.php?s=28775&item=137202

20 Foreclosure Inventory http://www.corelogic.com/about-us/researchtrends/national-foreclosure-report.aspx#.VmhKqeMrJE4

21 Low Inventory Quotes

http://www.housingwire.com/articles/35860https://www.corelogic.com/about-us/news/corelogic-us-home-price-report-shows-home-prices-up-6.8-percent-year-over-year-in-october.aspxhttp://fanniemae.com/portal/about-us/media/corporate-news/2015/6328.html?sf17142059=1

http://www.realtor.org/http://www.realtor.org/news-releases/2015/10/existing-home-sales-regain-momentum-in-septemberhttp://elliemae.com/origination-insight-reports/Ellie_Mae_OIR_NOVEMBER2015.pdfhttp://www.census.gov/construction/nrs/pdf/newressales.pdfhttp://silver-and-gold-prices.goldprice.org/http://money.cnn.com/2015/12/31/investing/stocks-market-end-of-2015/http://www.corelogic.com/http://www.realtor.org/news-releases/2015/12/nar-home-survey-desire-to-buy-strong-despite-affordability-economic-concernshttp://www.trulia.com/blog/trends/2016-housing-predictions/#sthash.8V706Kqs.dpufhttp://zillow.mediaroom.com/index.php?s=28775&item=137202http://www.corelogic.com/about-us/researchtrends/national-foreclosure-report.aspx#.VmhKqeMrJE4http://www.housingwire.com/articles/35860https://www.corelogic.com/about-us/news/corelogic-us-home-price-report-shows-home-prices-up-6.8-percent-year-over-year-in-october.aspxhttp://fanniemae.com/portal/about-us/media/corporate-news/2015/6328.html?sf17142059=1

Resources



23 - 24 Mortgage Rate Projections, Freddie Mac Forecast

http://www.freddiemac.com/finance/ehforecast.htmlhttp://www.fanniemae.com/resources/file/research/emma/pdf/Housing_Forecast_121515.pdfhttps://www.mba.org/Documents/Research/Mortgage%20Finance%20Forecast%20Dec%202015.pdfhttp://www.realtor.org/sites/default/files/reports/2015/embargoes/phs-11-12-forecast/forecast-10-2015-us-economic-outlook-11-13-2015.pdf

25 Sensitivity to Rate Increase http://www.firstam.com/economics/real-estate-sentiment-index/

26 Impact of Rates Jump http://zillow.mediaroom.com/index.php?s=28775&item=137202

27 Afforabillity Standards http://www.realtytrac.com/news/home-prices-and-sales/how-home-affordability-will-suffer-as-interest-rates-rise-county-level-heat-map/?platform=hootsuite

28 Mike Fratantoni Quote https://www.mba.org/2015-press-releases/december/mba-chief-economist-home-purchase-market-strong-in-2016

29, 30, 33, 35

Difficult to Get A Mortgage, Perceived Credit Score, Back End Debt, Perceived Down Payment

http://www.fanniemae.com/portal/about-us/media/commentary/121015-palim.html

31, 32, 34, 36

Avg FICO Score, FICO Scores Over Time, Avg Back End Debt, Avg Down Payment

http://www.elliemae.com/origination-insight-reports/Ellie_Mae_OIR_NOVEMBER2015.pdf

37 Typical Down Payment http://www.realtor.org

38-39 Yrs To Save 10% 3% http://www.builderonline.com/money/how-long-will-buyers-save-up-for-the-down-payment-of-their-dream-home_o

40 Mortgage Credit Availability http://www.mba.org/ResearchandForecasts/MCAI.htm

41 2015 Q4 MLS Survey http://fanniemae.com/portal/about-us/media/corporate-news/2015/6328.html?sf17142059=1

http://www.freddiemac.com/finance/ehforecast.htmlhttp://www.fanniemae.com/resources/file/research/emma/pdf/Housing_Forecast_121515.pdfhttps://www.mba.org/Documents/Research/Mortgage%20Finance%20Forecast%20Dec%202015.pdfhttp://www.realtor.org/sites/default/files/reports/2015/embargoes/phs-11-12-forecast/forecast-10-2015-us-economic-outlook-11-13-2015.pdfhttp://www.firstam.com/economics/real-estate-sentiment-index/http://zillow.mediaroom.com/index.php?s=28775&item=137202http://www.realtytrac.com/news/home-prices-and-sales/how-home-affordability-will-suffer-as-interest-rates-rise-county-level-heat-map/?platform=hootsuitehttps://www.mba.org/2015-press-releases/december/mba-chief-economist-home-purchase-market-strong-in-2016http://www.fanniemae.com/portal/about-us/media/commentary/121015-palim.htmlhttp://www.elliemae.com/origination-insight-reports/Ellie_Mae_OIR_NOVEMBER2015.pdfhttp://www.realtor.org/http://www.builderonline.com/money/how-long-will-buyers-save-up-for-the-down-payment-of-their-dream-home_ohttp://www.mba.org/ResearchandForecasts/MCAI.htmhttp://fanniemae.com/portal/about-us/media/corporate-news/2015/6328.html?sf17142059=1

Resources



43-46, 50 HPES Survey Slides https://pulsenomics.com/Q4_2015_HPE_Survey.php

47 Forecasted Price Change http://www.corelogic.com/about-us/researchtrends/corelogic-home-price-insights.aspx#

48 First American Quote http://www.firstam.com/economics/real-estate-sentiment-index/

49 Appraisal Home Value vs. Homeowner Opinion http://www.quickenloans.com/press-room/2015/12/08/appraised-values-remain-lower/

51 Pent-Up Seller Demand http://www.forbes.com/sites/lawrenceyun/2015/12/11/rising-homeowner-equity-helping-to-buy-the-next-home/

52 Homes With Positive Equity http://www.corelogic.com/about-us/researchtrends/homeowner-equity-report.aspx#.VnuAKpMrJE4

53 Lawrence Yun Quote http://www.forbes.com/sites/lawrenceyun/2015/12/11/rising-homeowner-equity-helping-to-buy-the-next-home/

55 Fannie Mae’s HPSI http://fanniemae.com/portal/jsp/search.html?q=Home%20Price%20Sentiment%20Index

56, 57 Housing Risk 1st Time Buyers,

1st Time Mortgages http://www.housingrisk.org/

58, 59 30-Year Fixed Rate, 2015 http://www.freddiemac.com/pmms

61, 62 Case Shiller Price Index http://us.spindices.com/index-family/real-estate/sp-case-shillerhttps://www.spice-indices.com/idpfiles/spice-assets/resources/public/documents/282559_cshomeprice-release-1229.pdf

63,65,66,68-70,73-77,79-80

Existing Prices, Sales, % Change, Pending Sales, Regional, Inventory, Traffic

http://www.realtor.org

67-72 Existing & New Sales http://www.freddiemac.com/blog/research_and_analysis/

https://pulsenomics.com/Q4_2015_HPE_Survey.phphttp://www.corelogic.com/about-us/researchtrends/corelogic-home-price-insights.aspxhttp://www.firstam.com/economics/real-estate-sentiment-index/http://www.quickenloans.com/press-room/2015/12/08/appraised-values-remain-lower/http://www.forbes.com/sites/lawrenceyun/2015/12/11/rising-homeowner-equity-helping-to-buy-the-next-home/http://www.corelogic.com/about-us/researchtrends/homeowner-equity-report.aspx#.VnuAKpMrJE4http://www.forbes.com/sites/lawrenceyun/2015/12/11/rising-homeowner-equity-helping-to-buy-the-next-home/http://fanniemae.com/portal/jsp/search.html?q=Home%20Price%20Sentiment%20Indexhttp://www.housingrisk.org/http://www.freddiemac.com/pmmshttp://us.spindices.com/index-family/real-estate/sp-case-shillerhttps:/www.spice-indices.com/idpfiles/spice-assets/resources/public/documents/282559_cshomeprice-release-1229.pdfhttp://www.realtor.org/http://www.freddiemac.com/blog/research_and_analysis/

A wealth of information creates a poverty of attention. Herbert A. Simon

Any fool can make something seem complicated. It is hard to make something seem simple. Richard Branson, Founder of the Virgin Group

JANUARY 2016

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