National Association of Realtors – 2020 Weekly Housing Market Monitor
September 14th to September 17th
The National Association of Realtors just published the Weekly Housing Market Monitor for September 14th to September 17th. The highly detailed report provides updated data on the housing market, mortgage forbearance programs and general economic conditions.
According to this report, “The housing market continues to recover strongly, fueled by low mortgage rates. Contract signings during the past four weeks ended September 13 were up 23% from one year ago, a strong pace despite the slight decline from last week’s pace (26%) as we enter the Fall season.”
This report goes into detail regarding the year-over-year increase in home price growth with the Bridgeport – Stamford – Norwalk, CT leading the way at 29% followed by Atlantic City – Hammonton, NJ at 25%. There a number of markets in Florida experiencing substantial gains. These include:
- Miami – Fort Lauderdale – West Palm Beach, FL: 18%
- Tampa – St. Petersburg – Clearwater, FL: 14%
- North Port – Sarasota – Bradenton, FL: 11%
- Orlando – Kissimmee – Sanford, FL: 10%
- Jacksonville, FL: 5%
Residential mortgage loans in forbearance continue to decline and are currently at 7.2% of overall mortgage loans. Private label securities or those held in a portfolio are the highest at 10.43% with Fannie Mae / Freddie Mac being the lowest at 4.8%.
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