Financial Real Estate News & Statistics

September 1, 2018CCG Financial Marketing Blog

Enjoy insider insights with this quick snapshot of key housing market data based on our proprietary research and analysis. Plus, get quick tips on what it all means to lenders. Come back for monthly updates!

September 2018 Housing Market News

After a slight drop in July, inventory headed upward during the month of August. An increase in both new listings and total active listings is a positive sign for homebuyers anxious to close on a new home before the end of the year. And there’s more good news for prospective buyers: Average home prices rose a mere half of a percentage point while median homes prices dipped slightly.

Note: All statistics are based on the U.S. real estate market.

Average Asking Price

0
AUGUST 2018 $374,563 | JULY 2018 $372,592

Median Asking Price

0
AUGUST 2018 259,900 | JULY $262,000

Number of New Listings

7
AUGUST 2018 463,606 | JULY 2018 429,573

Total Active Listings

8
AUGUST 2018 1,112,077 | JULY 2018 1,024,070

Quick tip: More inventory is a welcome relief for house hunters who have endured bidding wars over the last several months due to the tight market. And for first-time homebuyers, the jump in inventory may provide more bargaining power as they look to close on their first home. “Now is an ideal time to launch mortgage marketing campaigns to increase engagement and conversions,” says Greg Sultan, CCG senior vice president, financial strategist. “Start by leveraging your database to identify the right audience. Then reach out with personalized communication pieces that include pre-approved offers or an ITA. Remember to include value-added content, like a new homebuyer checklist, to help educate them about the home buying process.”

August 2018 Housing Market News

In July, home prices continued a downward trend begun in June, with both average and median asking price taking a 4% hit. While that’s a small boost to affordability, inventory also dropped after last month’s surge, leaving purchase opportunities limited. On the bright side, new listing numbers remain well above December 2017 figures and total active listings are holding above the million mark. So, while we aren’t out of the inventory squeeze yet, at least the belt didn’t notably tighten in July.

Note: All statistics are based on the U.S. real estate market.

Average Asking Price

4
JULY 2018 $372,592 | JUNE 2018 $392,162

Median Asking Price

4
JULY $262,000 | JUNE 2018 $274,999

Number of New Listings

10
JULY 2018 429,573 | JUNE 2018 481,664

Total Active Listings

2
JULY 2018 1,024,070 | JUNE 2018 1,046,698

Quick tip:  “With the seller’s market remaining hot and home values likely to be little impacted by the slight slips in property prices, many homeowners will choose to stay put and renovate rather than relocate,” says Greg Sultan, CCG senior vice president, financial strategist. “That makes now an ideal time to renew your home equity marketing efforts. Using real homeowner data to show estimates of how much an individual may be able to borrow is one great way to help make your mailings more personally relevant — and more effective — than ever.”

July 2018 Housing Market News

For the past three months we’ve watched home prices rise steadily. In June, the average asking price dropped by more than 5 percent, the largest drop to date in 2018. The number of new listings on the market peaked slightly, while the total number of active listings increased by more than 10 percent. After months of a hot seller’s market, this cool down could be a welcome relief for potential homebuyers.

Note: All statistics are based on the U.S. real estate market.

Average Asking Price

5
JUNE 2018 $392,162 | MAY 2018 $414,814

Median Asking Price

1
JUNE 2018 $274,999 | MAY 2018 $279,000

Number of New Listings

0
JUNE 2018 481,664 | MAY 2018 478,850

Total Active Listings

10
JUNE 2018 1,046,698 | MAY 2018 948,600

Quick tip: While the housing market is still hot across most of the country, the slight cool down means more opportunity — and bargaining power for buyers. “Take this opportunity to provide your customers with educational information about the homebuying process,” says Greg Sultan, CCG senior vice president, financial strategist. “Using content to inform, versus sell, positions your institution as a trusted resource and helps build and reinforce long-lasting customer relationships.”

June 2018 Housing Market News

In April, total active real estate listings took a big hit while prices kept climbing. In May, new listings dipped again, but total listings rebounded, if not quite to March’s year-to-date high of 1+ million. The rate of price increases slowed slightly, possibly in response to the nudge upward in inventory. As we head into the height of summer, this could open the door for a few more home seekers to become proud home owners.

Note: All statistics are based on the U.S. real estate market.

Average Asking Price

1
MAY 2018 $414,814 | APR 2018 $407,664

Median Asking Price

1
MAY 2018 $279,000 | APR 2018 $274,500

Number of New Listings

1
MAY 2018 478,850 | APR 2018 484,874

Total Active Listings

8
MAY 2018 948,600 | APR 2018 876,902

Quick tip: Sellers still hold the power in today’s real estate market, but that’s no reason to take them for granted, particularly since most sellers are also buyers. “It can be tricky juggling the complex process of selling one home and buying another—especially when finding a new home can be a challenge with today’s still-tight inventory,” says Greg Sultan, CCG senior vice president, financial strategist. “Use your marketing efforts to get the word out about how you can help, from education on managing the buy-sell situation smoothly to providing information on products like bridge loans that can help with financing challenges.”

May 2018 Housing Market News

After seeing encouraging gains during the first quarter of 2018, inventory numbers took a hit in April. We saw a small dip in new listings and a significant drop in active listings, indicating that houses are being purchased — but those spots aren’t being re-filled by additional homes for sale. Meanwhile, prices continue their steady upward trajectory. Together, these forces are keeping the squeeze on buyers and extending the sellers’ markets.

Note: All statistics are based on the U.S. real estate market.

Average Asking Price

4
APR 2018 $407,664 | MAR 2018 $391,453

Median Asking Price

3
APR 2018 $274,500 | MAR 2018 $264,999

Number of New Listings

2
APR 2018 484,874 | MAR 2018 498,528

Total Active Listings

17
APR 2018 876,902 | MAR 2018 1,066,903

Quick tip: “If you’re promoting purchase mortgages, now is a great time to share advice and resources to help home buyers gain a competitive advantage,” explains Greg Sultan, CCG senior vice president, financial strategist. For instance, get the word out about your preapprovals and provide articles or “do and don’t” lists with tips on winning a bidding war.

“In addition, with inventory down, we may see the number of mortgage applications decrease and more people staying put. That presents an opportunity to encourage home equity financing applications and utilization for home improvement projects,” says Sultan. That’s particularly true since incomes and job markets are both strong, meaning homeowners could be well positioned to qualify for and manage payments on home equity products.

April 2018 Housing Market News

The number of new and active home listings jumped significantly last month, according to CCG’s proprietary real estate research. That’s good news heading into what’s traditionally the busiest season for homebuyers and sellers. While home prices continue to climb, they’re not rising as fast as in previous months, more good news for buyers looking to make a move now.

Note: All statistics are based on the U.S. real estate market.

Average Asking Price

1
MAR 2018 $391,453 | FEB 2018 $385,547

Median Asking Price

2
MAR 2018 $264,999 | FEB 2018 $258,290

Number of New Listings

34
MAR 2018 498,528 | FEB 2018 370,386

Total Active Listings

15
MAR 2018 1,066,903 | FEB 2018 920,907

Quick tip: “As we head into the prime homebuying and selling season, it’s an ideal opportunity for lenders to educate homebuyers (especially first-timers) about mortgages as well as the entire homebuying process,” explains Greg Sultan, CCG senior vice president, financial strategist. “Providing value-added content can help you attract and retain loan prospects by positioning your institution as a trusted source of valuable information.”

March 2018 Housing Market News

Home prices increased at the beginning of 2018, while total inventory of homes for sale dropped significantly, according to CCG’s proprietary real estate research. That puts a squeeze on potential buyers and keeps us in a hot seller’s market. But new listings jumped — a positive sign that provides hope the housing market could find more balance this year.

Note: All statistics are based on the U.S. real estate market.

Average Asking Price

12
JAN 2018 $387,674 | DEC 2017 $343,626

Median Asking Price

4
JAN 2018 $250,000 | DEC 2017 $239,900

Number of New Listings

13
JAN 2018 301,454 | DEC 2017 265,391

Total Active Listings

19
JAN 2018 927,244 | DEC 2017 1.16 million

Quick tip: “As home prices increase and it becomes harder for people to enter the market, it’s more important than ever to refine your sales efforts,” says Greg Sultan, CCG senior vice president, financial strategist. “With our Premover Data, CCG can provide actionable data lists that help financial institutions target their purchase mortgage campaigns to reach the most promising candidates.”

Schedule a personal, complimentary discussion to see how CCG’s financial marketing experts can help you leverage data, strategy and creative to create more powerful, effective initiatives to meet your mortgage and home equity portfolio objectives.