Speed of January sales felt more like spring selling season.
Speed of January sales felt more like spring selling season.
West Region leads U.S. in showing activity with double-digit gains; other regions exhibit substantial growth
Chicago, IL – Feb. 22, 2018 (PRNewswire) The ShowingTime Showing Index, a leading indicator of confirmed homebuyer demand, revealed that home showings on the national level posted a 5.2 percent year-over-year increase in January as 2017’s high consumer demand continued into the new year.
All four regions experienced growth from the previous January, with the West Region seeing an 11.9 percent year-over-year increase in buyer interest. The Midwest (5.8 percent), South (4.7 percent) and Northeast (4.2 percent) regions also saw an increase in showing activity compared to the same period last year.
ShowingTime Chief Analytics Officer Daniil Cherkasskiy said January’s increase in showing activity is a direct reflection on buyer demand continuing to outpace inventory.
“Showing activity continued to increase overall as we moved into 2018, with several markets outpacing the National Index,” Cherkasskiy said. “Some areas in the South Region saw relative increases in showing activity in January, compensating for the slowdowns experienced in the fourth quarter due to Hurricane Irma.”
Although a number of real estate experts have adopted a “wait and see” perspective on the potential impact of a revised federal tax plan, this early indicator shows that consumers are potentially moving ahead regardless.
The ShowingTime Showing Index, the first of its kind in the residential real estate industry, is compiled using data from property showings scheduled across the country on listings using ShowingTime products and services, which facilitates more than 4 million showings each month.
It tracks the average number of appointments received on an active listing during the month. The Showing Index, released the third week of each month, will eventually be released on a weekly basis. Local MLS indices are also now available for select markets, and are distributed to MLS and association leadership to provide them with another resource to share with members and to communicate to local media.
To view the full report, visit www.showingtime.com/index.
ShowingTime is the leading market stats and showing management technology provider to the residential real estate industry. Its MarketStats division provides interactive tools and easy-to-read market reports for MLSs, associations, brokers, agents and other real estate companies, along with recruiting software that enables brokers to identify top agents. Its showing products and services take the inefficiencies out of the appointment scheduling process for real estate professionals, buyers and sellers, resulting in more showings, more feedback and quicker sales. ShowingTime products are used in more than 180 MLSs and associations representing more than 900,000 real estate professionals across the U.S. and Canada. Visit www.showingtime.com.
Foreclosure Rates Lower in Highest-Risk Zip Codes; Superfund Risk Bucks Trends With Weaker Price Appreciation in Highest Risk Zips
Irvine, CA – Feb. 22, 2018 (PRNewswire) ATTOM Data Solutions, curator of the nation’s premier property database, today released its 2017 Environmental Hazards Housing Risk Index, which shows that median home prices in U.S. zip codes in the highest 20 percent for environmental hazard risk appreciated at a faster pace than the overall U.S housing market over the past year, past five years and past 10 years.
For the report, ATTOM Data Solutions analyzed 8,665 U.S. zip codes with sufficient housing trend data for risk related to four environmental hazards: superfund sites, brownfields, polluters and poor air quality (see full methodology below).
Median home prices in zip codes in the top environmental hazard risk quintile increased 7.4 percent from a year ago on average (compared to 7.1 percent increase nationwide); increased 57.1 percent from 2012 (compared to 51.1 percent increase nationwide); and increased 22.2 percent from 2007 (compared to 12.3 percent increase nationwide).
“With housing inventory in short supply, even homes in higher-risk zip codes for environmental hazards are in high demand from buyers looking for lower-priced properties and investors looking for the next up-and-coming neighborhood,” said Daren Blomquist, senior vice president with ATTOM Data Solutions. “Buyer demand does seem to have a bit of a limit when it comes to environmental hazards, however. Homes in zip codes with superfunds on the EPA’s national priority list have seen weaker home price appreciation and have higher foreclosure rates than the overall housing market.”
Foreclosure rates lower in highest-risk zip codes
Home foreclosure rates in zip codes in the highest quintile for environmental hazard risk were slightly lower at 0.3 percent of all homes with a mortgage than in the overall market — 0.4 percent.
Superfund risk was the exception. The home foreclosure rate in zip codes in the highest risk category for superfund risk was on average 0.7 percent, more than 1.5 times the overall market foreclosure rate of 0.4 percent.
Highest-risk zips for superfunds post weaker price appreciation, higher foreclosure rates
Of the four environmental risk factors analyzed in the report, Superfund risk was the only factor where home prices in the highest-risk zip codes appreciated at a slower pace than the overall market. Median home prices in zip codes with Very High Superfund risk increased an average of 7.0 percent from a year ago (compared to 7.1 percent nationwide), increased an average of 44.1 percent from five years ago (compared to 51.1 percent nationwide) and were up an average of 7.6 percent from 10 years ago (compared to 12.3 percent nationwide).
Houston, Riverside, Portland markets with most combined home value in highest-risk zips
A total of 12.6 million U.S. single family homes and condos with a combined estimated market value of $3.4 trillion were in zip codes in the top quintile for environmental hazard housing risk. The average market value of those homes was $268,585 compared to an average market value of $329,217 for all 66.2 million U.S. single family homes and condos analyzed for the report.
Markets with the most combined value of homes in zip codes in the top quintile for environmental hazard risk were Houston, Texas ($415 billion); Riverside-San Bernardino, California ($344 billion); Portland, Oregon ($254 billion); Washington, D.C. ($161 billion); and Chicago, Illinois ($134 billion).
Top 10 zip codes for overall environmental hazard housing risk
Zip codes with the 10 highest total Environmental Hazard Housing Risk Index values in 2017 were in Denver, Southern California, Portland, St. Louis, Burlington, North Carolina, Tulsa, Oklahoma and Houston.
For the report, ATTOM Data Solutions analyzed 8,665 U.S. zip codes with sufficient housing trend data for risk related to four environmental hazards: superfund sites, brownfields, polluters and poor air quality.
A housing risk index was calculated for each of the four types of hazards in each of the 8,642 zip codes. The maximum index value for each index was 250 and the minimum value was 0.
A combined environmental hazard index comprised of these four factors and with a maximum possible score of 1,000 was assigned to each zip code. The highest actual score for any zip code was 497. Each individual natural hazard index accounted for 25 percent of the combined index.
Environmental Hazard Definitions and Sources
Poor Air Quality: This percentage is derived from the average percentage of days without significant traces of Carbon Monoxide, Fine Particles, Particulate Matter, Nitrogen Dioxide, Ozone, or Sulfur Dioxide in the air as reported by the Environmental Protection Agency. For more details, visit http://www.epa.gov/airquality/cleanair.html.
Superfunds on National Priorities List: is the list of national priorities among the known releases or threatened releases of hazardous substances, pollutants, or contaminants throughout the United States and its territories. The NPL is intended primarily to guide the EPA in determining which sites warrant further investigation. For more details, visit http://www.epa.gov/superfund/sites/npl/.
Brownfield Site: With certain legal exclusions and additions, the term “brownfield site” means real property, the expansion, redevelopment, or reuse of which may be complicated by the presence or potential presence of a hazardous substance, pollutant, or contaminant. For more details, visit http://epa.gov/brownfields/index.html.
Polluters: Data from the Toxic Release Inventory (TRI) Program that requires certain industrial facilities that manufacture or process more than 25,000 pounds of a TRI-listed chemical or otherwise uses more than 10,000 pounds of a listed chemical in a given year to report that to the Environmental Protection Agency. For more details, visit http://www2.epa.gov/toxics-release-inventory-tri-program.
Data Licensing and Custom Report Order
Investors, businesses and government institutions can contact ATTOM Data Solutions to purchase the full dataset behind the 2017 Environmental Hazards Housing Risk Index, including data at the state, metro, county and zip code level. The data is also available via bulk license or in customized reports. For more information contact our Data Solutions Department at 800.462.5193 or firstname.lastname@example.org.
About ATTOM Data Solutions
ATTOM Data Solutions blends property tax, deed, mortgage, foreclosure, environmental risk, natural hazard, and neighborhood data for more than 155 million U.S. residential and commercial properties multi-sourced from more than 3,000 U.S. counties. A rigorous data management process involving more than 20 steps validates, standardizes and enhances the data collected by ATTOM, assigning each property record with a persistent, unique ID — the ATTOM ID. With more than 29.6 billion rows of transactional-level data and more than 7,200 discrete data attributes, the 9TB ATTOM data warehouse powers real estate transparency for innovators, entrepreneurs, disrupters, developers, marketers, policymakers, and analysts through flexible delivery solutions, including bulk file licenses, APIs and customized reports.
Data and Report Licensing:
– Over the past year, U.S. home values rose 6.7 percent, the slowest rate of appreciation since November 2016
– Home values across the U.S. rose 6.7 percent since last January, to a median home value of $207,600. San Jose, California, Las Vegas and Seattle reported the greatest home value growth over the past year.
– U.S. home values are rising at their slowest pace since November 2016, which could help buyers going into home shopping season.
– Median rent in the U.S. rose 2.6 percent over the past year, to a median of $1,441. The fastest appreciating rental markets are along the West Coast.
– There are 10 percent fewer homes on the market to choose from than a year ago, with San Jose, Las Vegas and Indianapolis reporting the greatest drops.
Seattle, WA – Feb. 22, 2018 (PRNewswire) Home value growth across the country is increasing at the slowest pace in 15 months, according to the January Zillow® Real Estate Market Report(i). Over the past year, home values rose 6.7 percent to a median home value of $207,600.
In May 2017, national home values were rising at their fastest pace since the housing bubble, up 7.6 percent year-over-year, but have since slowed, dropping about a tenth of a percentage point each month since last summer.
While home value growth is slowing, mortgage rates are picking up, ending the month of January at 4.04 percent(ii) — the highest rate in four years(iii). Going into the spring home shopping season, buyers may find a slight relief on prices, but should expect higher mortgage rates to lead to an increase in monthly costs.
“The pace of home value appreciation we experienced during much of last year was not sustainable, and a slow glide path down to a more normal appreciation rate has been expected for some time,” said Zillow Senior Economist Aaron Terrazas. “This slowdown is nothing to be overly concerned with — demand from home buyers remains very high, and inventory remains tight. New home construction is growing, providing some relief to buyers who can afford the generally high price point of new homes. It’s important to note that home values are still growing very quickly relative to historic norms. After years of intense competition, some buyers may be more willing than previously to take more time with the process and to wait until the right home at the right price comes on the market, even if it’s not for several months. Removing a lot of this frenzy, especially as inventory remains incredibly tight, may prove to be good news for beleaguered buyers.”
Markets with the greatest home value appreciation are in the West — San Jose, California, Las Vegas and Seattle reported the greatest home value growth over the past year. In San Jose, home values rose about 23 percent – about three times faster than its historic pace – to a median home value of $1,202,900.
Tight inventory will put a strain on buyers this home shopping season, even more so than last year. There are almost 10 percent fewer homes on the market than a year ago, with San Jose, Las Vegas and Indianapolis reporting the greatest drop in inventory. New home starts have increased about 7 percent over the past year, a positive trend but still insufficient to meet demand.
Median rent across the nation rose 2.6 percent since last January, to a median payment of $1,441 per month. Sacramento, California, Riverside, California and Seattle reported the highest year-over-year rent appreciation among the 35 largest U.S. housing markets. Median rent in Sacramento rose just over 8 percent to a Zillow Rent Index(iv) (ZRI) of $1,845. Rent in Riverside rose 6 percent year-over-year, and rent in Seattle rose 5 percent.
Mortgage rates(v) on Zillow gradually increased throughout the month of January, starting at 3.77 percent and ending at 4.04 percent, the month high. Zillow’s real-time mortgage rates are based on thousands of custom mortgage quotes submitted daily to anonymous borrowers on the Zillow Mortgages site and reflect the most recent changes in the market.
Zillow is the leading real estate and rental marketplace dedicated to empowering consumers with data, inspiration and knowledge around the place they call home, and connecting them with the best local professionals who can help. In addition, Zillow operates an industry-leading economics and analytics bureau led by Zillow’s Chief Economist Dr. Svenja Gudell. Dr. Gudell and her team of economists and data analysts produce extensive housing data and research covering more than 450 markets at Zillow Real Estate Research. Zillow also sponsors the quarterly Zillow Home Price Expectations Survey, which asks more than 100 leading economists, real estate experts and investment and market strategists to predict the path of the Zillow Home Value Index over the next five years. Launched in 2006, Zillow is owned and operated by Zillow Group, Inc. (NASDAQ: Z and ZG), and headquartered in Seattle.
Zillow is a registered trademark of Zillow, Inc.
(i) The Zillow Real Estate Market Reports are a monthly overview of the national and local real estate markets. The reports are compiled by Zillow Real Estate Research. For more information, visit www.zillow.com/research/. The data in Zillow’s Real Estate Market Reports are aggregated from public sources by a number of data providers for 928 metropolitan and micropolitan areas dating back to 1996. Mortgage and home loan data are typically recorded in each county and publicly available through a county recorder’s office. All current monthly data at the national, state, metro, city, ZIP code and neighborhood level can be accessed at www.zillow.com/local-info/ and www.zillow.com/research/data.
(ii) Mortgage rates on Zillow.
(iii) Mortgage rates have increased further through the first three weeks of February. They are about 30 basis points higher than January month-end.
(iv) The Zillow Rent Index (ZRI) is the median Rent Zestimate® (estimated monthly rental price) for a given geographic area on a given day, and includes the value of all single-family residences, condominiums, cooperatives and apartments in Zillow’s database, regardless of whether they are currently listed for rent. It is expressed in dollars.
(v) Mortgage rates for a 30-year fixed mortgage.
(vi) The Zillow Home Value Index (ZHVI) is the median estimated home value for a given geographic area on a given day and includes the value of all single-family residences, condominiums and cooperatives, regardless of whether they sold within a given period. It is expressed in dollars, and seasonally adjusted.
(vii) The Zillow Rent Index (ZRI) is the median Rent Zestimate® (estimated monthly rental price) for a given geographic area on a given day, and includes the value of all single-family residences, condominiums, cooperatives and apartments in Zillow’s database, regardless of whether they are currently listed for rent. It is expressed in dollars.
Washington, D.C. – February 22, 2018 (nar.realtor) National Association of Realtors® President Elizabeth Mendenhall, a sixth-generation Realtor® from Columbia, Missouri and CEO of RE/MAX Boone Realty, issued the following statement regarding the IRS announcement clarifying tax deductions taken on home equity loans, lines of credit or second mortgages:
“The National Association of Realtors® is pleased with the IRS announcement clarifying and confirming that under the new tax law owners can continue to deduct the interest on a home equity loan, line of credit or second mortgage when the proceeds are used to substantially improve their residence. There has been much confusion on this issue, and the continued deductibility will bring real benefits to those who choose to take on remodeling projects to bring more resale value to their home or gain equity that may have been lost during the downturn.”
AgencyLogic PowerSites include detailed statistics to answer, among other questions, how many people visit your single property Websites.
Please follow these steps to access the data and reports – if you have additional questions give us a call on:
Log into your account and click the PowerSite you want to see reports on. You can also click “My PowerSites” to see a list of your single property Websites:
Click the “Marketing” tab:
Click the “PowerSite Statistics” link:
The default report is the “Overview” report – to select the “Page Activity” report simply click on the drop down box:
Note: You can change the date range to see activity over a longer or shorter period (make sure you click the “Refresh” button):
The “Page Activity” report details on how many times specific pages were viewed:
As you look at the statistics you need to understand the following key terms:
Visits: A count of each time someone viewed your PowerSite. They can look at dozens of pages, download documents, floor plans etc. but this still counts as 1 visit. That same person could view your PowerSite later the same day and would count as another visit.
Page View: Is a count of each PowerSite page displayed. The whole page (images and photos) counts as 1 view.
Hit: Is the number of items displayed to your clients including a Web page, graphic or a photo. Each one counts as 1 hit.
In addition to the graphical representation of the data it is also shown in tabular form: