Market Studies

April sales of Massachusetts single-family homes dropped 2.3 percent compared with the same month last year, according to the latest from the Warren Group. The percentage decline represents a decrease from 3,508 last year to 3,427 in April.

In its second annual survey of housing attitudes, the MacArthur Foundation found 51 percent of American consumers still believe the country is in the midst of its housing crisis, while another 19 percent believe the worst is yet to come. Only 25 percent said they believe "the housing crisis is pretty much over."

In its latest Home Price Index, CoreLogic reported that home prices continue to rise across the nation, with more increases to come in 2015. The company reported that home prices increased 10.5 percent in April from the previous year, including distressed sales. The company projects home prices will continue to increase by 1.0 percent month-over-month in May.

The Data and Analytics division of Black Knight Financial Services released its latest Mortgage Monitor Report, which analyzed data as of the end of April 2014. The report found that there were roughly 2 million modified mortgages facing interest rate resets, with 40 percent of those loan modifications currently underwater.

According to research results put out by TD Bank, 37 percent of homeowners who purchased within the last decade required mortgage insurance. Looking at just the last two years, that number is up to 43 percent, reflecting the troubles buyers are having meeting normal down payment minimums as home prices march up.

In its weekly released Primary Mortgage Market Survey, Freddie Mac found the average rate for a 30-year fixed-rate mortgage (FRM) was 4.12 percent (0.6 point) for the week ending May 29, down from 4.14 percent last week and the lowest 30-year fixed average since October 2013. The 15-year FRM also slid down, averaging 3.21 percent (0.5 point) compared to last week's 3.25 percent.

The National Association of Realtors (NAR) recorded a 0.4 percent gain in its Pending Home Sales Index (PHSI) for April, bringing it up to 97.8. A measure of contract signings, the index serves as a forward-looking indicator for future sales activity.

The Bureau of Economic Analysis (BEA) released Thursday its second look at gross domestic product(GDP) for Q1, estimating an annualized 1.0 percent decline as private inventory investment dropped further than originally reported. BEA’s first estimate, released late April, put growth at an estimated annual rate of 0.1 percent compared to Q4’s final rate of 2.6 percent.

CoreLogic released its National Foreclosure Report, looking at data as of the end of April 2014. The company found that completed foreclosures in April totaled 46,000, down 0.4 percent from March and down 18 percent year-over-year.

U.S. residential properties sold at an estimated annual pace of 5.2 million in April, according to RealtyTrac's April 2014 Residential & Foreclosure Sales Report. April's sales pace is a decrease of less than 1 percent from March, but an increase of 4 percent from April 2013.