are you ready to buy a home in 2016?
TRANSCRIPT
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…according to the First-Time Buyer Mortgage Share
Index by AEI’s International Center on Housing Risk
% of all buyers
were first time
buyers this
month
AEI’s International Center on Housing Risk
First Time Home Buyers
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Typical First Time
Buyers
Percent of All
First Time (FT)
Buyers
Household
Income
Median Age
(in years)
All FT Buyers 100% $69,400 31
Married Couple 56% $77,500 31
Single Female 18% $49,400 32
Single Male 11% $58,100 30
Unmarried Couple 13% $74,600 28
Other 2% $63,800 45
NAR’s Profile of Home Buyers and Sellers
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Median Asking
RENTsince 1988
Census
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The Impact of Monthly Housing
Inventory on Home Prices
LESS THAN
6 MONTHS
BETWEEN
6-7 MONTHS
GREATER THAN
7 MONTHS
SELLERS
MARKETHomes prices
will appreciate
NEUTRAL
MARKETHomes prices
will only
appreciate with
inflation
BUYERS
MARKETHomes prices
will depreciate
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CoreLogic 2/2016
Forecasted Year-Over-Year % Change in Price by State
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Y-O-Y by region
EXISTING Home Prices
NAR 1/2016
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Q: When do most listingscome on the market?
A: The 2nd Quarter of each Year
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QuarterFannie
Mae
Freddie
MacMBA NAR
Average
of all four
2016 2Q 4.1% 4.2% 4.2% 4.2% 4.18%
2016 3Q 4.1% 4.4% 4.4% 4.4% 4.33%
2016 4Q 4.2% 4.5% 4.6% 4.7% 4.50%
2017 1Q 4.2% 4.6% 4.7% 4.8% 4.58%
Mortgage Rate Projections
2/2016
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Freddie Mac
Mortgage RatesFreddie Mac 30 Year Fixed Rate
- Actual
- Projected2015
2016
2017
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This research suggests
that there are too many
eligible homebuyers sitting
on the sidelines due to
misperceptions or anxiety
about being turned down for a loan.
Fannie Mae
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Mortgage Credit Availability Index (MCAI), a
report from the Mortgage Bankers Association
Mortgage Credit
Availability