Market Studies

Fixed mortgage rates this week moved down to their lowest levels so far in 2014, according to surveys from Freddie Mac and finance site Bankrate.com. Frank Nothaft, VP and chief economist for Freddie Mac, pointed to weaker housing data as the driving force behind this week’s rate movements.

Massachusetts home sales came down for the second month in December, while prices continued to increase at a steady clip, the Warren Group reported Wednesday. Single-family home sales in the Bay State dropped less than a percent last month to 3,712 from December 2012’s 3,725. According to the company, it was the lowest number of sales recorded in one month since April. “Sales and prices set a torrid pace in the third quarter of 2013 and through October. Now the market is taking a breather,” said Timothy M. Warren Jr., CEO of the Warren Group.

December's bitterly cold weather kept home shoppers away from the market in December, driving competition down further across most markets. Redfin's most recent Real-Time Bidding Wars report shows 52.0 percent of offers made by the company's agents faced competition last month, down from 52.8 percent in November and 62.4 percent a year earlier.

As the Super Bowl approaches, the sports world is abuzz with comparisons of the two teams facing off Sunday as analysts compare everything from the number of veteran players to yards gained during the season. At the same time, ZipRealty, a national online real estate brokerage based in Emeryville, California, looked at the stats to compare the two teams’ home housing markets. Denver’s market pulls ahead of Seattle at least marginally in four out of five categories.

James Weichert Jr., son of Weichert, Realtors president and founder Jim Weichert, is moving up in the family business, the company announced. Working alongside his father as co-president, James will be responsible for growing the firm’s business while providing its customers with “an exceptional, full-service experience through Weichert’s mortgage, title and insurance companies,” Weichert, Realtors said in a release.

Despite seeing their first monthly downturn in a year, home prices were strong in November, according to the latest S&P/Case-Shiller report released Tuesday. On a yearly basis, the 10- and 20-city composites were up 13.8 percent and 13.7 percent, respectively. Dallas outperformed with an annual return of 9.9 percent—the highest since its inception in 2000. Also standing out was Chicago, which posted an increase of 11.0 percent, its highest since 1988.

Delinquencies picked up slightly in December, according to early data released by Black Knight Financial Services (BKFS)--but overall trends indicate 2013 was a year of improvement. As of month-end, BKFS puts the total U.S. loan delinquency rate at 6.47 percent, an increase of 0.26 percent from November. The figure includes loans that are 30 or more days overdue but not in foreclosure. On an annual basis, however, delinquency was down 9.85 percent in 2013.

The latest Home Price Index (HPI) report from Black Knight Financial Services (BKFS) shows prices rising in November to a national index value of $232,000, up 0.3 percent from October. Compared to November 2012, the recent index was up 8.5 percent. Nationally, home prices remained down 13.9 percent compared to their peak of $270,000 in 2006. At the state level, Florida experienced the biggest increase at 1.0; the Sunshine State also dominated at the local level, accounting for nine of the top 10 markets for appreciation.

Home price growth bucked recent trends in December as sales numbers continued on a slower course, analytics provider DataQuick reported Monday. The firm's Property Intelligence Report (PIR) for December show month-to-month home price growth was positive in 36 out of 42 reporting counties, a downturn from months of growth across all markets. While the slowdown in growth was a change from the last few months, it's not necessarily a bad sign, says DataQuick's VP of analytics, Gordon Crawford. In the latest report, Crawford maintains that the previous pace of growth "was not sustainable given the fairly weak underlying economic drivers."

A recent survey from LendingTree shows the majority of current and potential homeowners have a bright outlook on the nation's housing market and economy for 2014—which may translate to a more active market. According to the findings, more than two-thirds—69 percent—of respondents have a positive outlook on housing this year, and 71 percent of current homeowners are thinking of selling their homes if trends remain positive.