Latest news with #HomePriceIndex
Yahoo
3 days ago
- Business
- Yahoo
Cotality: Slower Home Price Growth Could Open Doors for More Buyers
Year-over-year price growth dipped to 1.7% in June 2025 and is now well below the rate of inflation and signals that real prices may be becoming slightly more affordable. Seasonal increases in home prices continue to be weak, up 0.1% compared to the month before, which is the slowest June monthly increase since 2008. Shop Top Mortgage Rates A quicker path to financial freedom Your Path to Homeownership Personalized rates in minutes West Virginia saw prices rise 5.5% year-over-year, entering the top 5 states with the highest home price growth. The full list includes Connecticut, New Jersey, Rhode Island, and Illinois, all of which continue to record more than triple the national rate of price growth. Florida, Texas, Montana, and Washington, D.C. reported negative home price growth. IRVINE, Calif., August 05, 2025--(BUSINESS WIRE)--Cotality™, a leader in property information, analytics, and data-enabled solutions, released its Home Price Index™ for June 2025 today. June saw home price growth remain below 2%, indicating a continued market slowdown. Housing markets in the Sun Belt have seen particularly noticeable declines, while the Midwest and the Northeast are seeing seasonal price gains that align with pre-pandemic trends. The Northeast has continued recording strong price growth as compared to the rest of the country. Connecticut, New Jersey, and Rhode Island topped the charts this month, posting 7.8%, 7.2%, and 6.6% growth, respectively. While most of the areas are experiencing a slowdown in annual appreciation, home price appreciation in New Jersey has accelerated in recent months. Similarly, Hawaii and Kansas are appreciating at a faster pace than in April of this year, and a few other states, including North Dakota, Indiana, and Maine, are seeing a similar trend. In addition to the Northeast, the Midwest continues to rank high with robust price growth as the region boasts the highest affordability nationwide. "Markets demonstrating strong fundamentals — such as those in West Virginia — where affordability remains attractive and domestic in-migration continues, are likely to see continued home price growth," explained Cotality Chief Economist Dr. Selma Hepp. "Slowing price growth and increased for-sale inventories are gradually improving affordability, which has recently been at its lowest levels in more than 30 years. These changes are creating new opportunities for potential homebuyers who were previously unable to enter the market due to high prices. But the extent to which buyers can enter the market is influenced by the stability of the labor market and the absence of major layoffs." Even though the housing market is seeing a slowdown in price increases, prices are still rising. This month's median sales price for a single-family home is $403,000. Still, price growth is now under the rate of inflation, which means that relative prices are inching closer to affordability and have laid the foundation for a buyers' market going forward. "With mortgage rates remaining elevated and concerns about a slowing U.S. economy, subdued demand and downward pressure on home prices is expected to persist, particularly in regions where prices have already decelerated or where recent appreciation has significantly limited local affordability. Additionally, greater price pressures are evident in markets with notable inventory increases, such as the Washington D.C. metro area and Denver, Colorado." The next Cotality Home Price Index will be released on September 2, featuring data for July 2025. For ongoing housing trends and data, visit the Cotality Insights blog: Methodology The Cotality HPI™ is built on industry-leading public record, servicing and securities real-estate databases and incorporates more than 45 years of repeat-sales transactions for analyzing home price trends. Generally released on the first Tuesday of each month with an average five-week lag, the Cotality HPI is designed to provide an early indication of home price trends by market segment and for the Single-Family Combined tier, representing the most comprehensive set of properties, including all sales for single-family attached and single-family detached properties. The indices are fully revised with each release and employ techniques to signal turning points sooner. The Cotality HPI provides measures for multiple market segments, referred to as tiers, based on property type, price, time between sales, loan type (conforming vs. non-conforming) and distressed sales. Broad national coverage is available from the national level down to ZIP Code, including non-disclosure states. Cotality HPI Forecasts™ are based on a two-stage, error-correction econometric model that combines the equilibrium home price—as a function of real disposable income per capita—with short-run fluctuations caused by market momentum, mean-reversion, and exogenous economic shocks like changes in the unemployment rate. With a 30-year forecast horizon, Cotality HPI Forecasts project Cotality HPI levels for two tiers — Single-Family Combined (both attached and detached) and Single-Family Combined Excluding Distressed Sales. As a companion to the Cotality HPI Forecasts, Stress-Testing Scenarios align with Comprehensive Capital Analysis and Review (CCAR) national scenarios to project five years of home prices under baseline, adverse and severely adverse scenarios at state, metropolitan areas and ZIP Code levels. The forecast accuracy represents a 95% statistical confidence interval with a +/- 2% margin of error for the index. About Market Risk Indicators Market Risk Indicators are a subscription-based analytics solution that provide monthly updates on the overall health of housing markets across the country. Cotality data scientists combine world-class analytics with detailed economic and housing data to help determine the likelihood of a housing bubble burst in 392 major metros and all 50 states. Market Risk Indicators is a multi-phase regression model that provides a probability score (from 1 to 100) on the likelihood of two scenarios per metro: a >10% price reduction and a ≤ 10% price reduction. The higher the score, the higher the risk of a price reduction. About the Market Condition Indicators As part of the Cotality HPI and HPI Forecasts offerings, Market Condition Indicators are available for all metropolitan areas and identify individual markets as overvalued, at value or undervalued. These indicators are derived from the long-term fundamental values, which are a function of real disposable income per capita. Markets are labeled as overvalued if the current home price indexes exceed their long-term values by greater than 10% and undervalued where the long-term values exceed the index levels by greater than 10%. The data provided are for use only by the primary recipient or the primary recipient's publication or broadcast. This data may not be resold, republished or licensed to any other source, including publications and sources owned by the primary recipient's parent company without prior written permission from Cotality. Any Cotality data used for publication or broadcast, in whole or in part, must be sourced as coming from Cotality, a data and analytics company. For use with broadcast or web content, the citation must directly accompany first reference of the data. If the data are illustrated with maps, charts, graphs or other visual elements, the Cotality logo must be included on screen or website. For questions, analysis or interpretation of the data, contact Charity Head at newsmedia@ Data provided may not be modified without the prior written permission of Cotality. Do not use the data in any unlawful manner. The data are compiled from public records, contributory databases and proprietary analytics, and its accuracy is dependent upon these sources. About Cotality Cotality accelerates data, insights, and workflows across the property ecosystem to enable industry professionals to surpass their ambitions and impact society. With billions of real-time data signals across the life cycle of a property, we unearth hidden risks and transformative opportunities for agents, lenders, carriers, and innovators. Get to know us at View source version on Contacts Media Contact Charity HeadCotalitynewsmedia@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Courier-Mail
4 days ago
- Business
- Courier-Mail
Sydney price gap: chance to buy units for half cost of houses
New data has revealed the price chasm between units and houses in Sydney, flagging units to be the next growth frontier in Sydney's property cycle. PropTrack's latest Home Price Index revealed Sydney houses are almost double the price of apartments in many areas, with the citywide median house price at $1,564,000 and the median unit price at $860,000. There was a similar trend nationally. The median price of a house across the nation is now sitting at $915,000, with units at $678,000. The disparity between prices shows the median unit price in Sydney sitting at just 56 per cent of house prices, creating opportunity for homebuyers and investors, experts claim. MORE: Gone in hours: Sydney's most popular suburbs Metropole National Director Brett Warren said 'we're witnessing a pivotal moment in the Sydney property cycle'. 'Units in premium suburbs are trading up to 70 per cent cheaper than houses and yet they're offering similar lifestyle access and even comparable internal space,' he said. 'That's not just value – it's strategic advantage.' Mr Warren said investors and homebuyers should be paying attention as many units are dramatically undervalued relative to historical norms, particularly in high-amenity areas. 'The key here is long-term capital growth,' he said. According to Mr Warren, as affordability tightens and house prices continue to outpace income growth in Sydney, units in desirable locations are primed for a rebound. MORE: 'Bittersweet' sale helps next generation This comes as opportunity for units is being fuelled by strong lifestyle demand for newer development offerings. A Metropole release pointed to building data from the City of Sydney suggesting there is also recovery from a post-pandemic dip in apartment completions with large-scale precincts such as in Green Square, Redfern and the CBD once again showing signs of development momentum. 'A lower entry price, smaller deposit and manageable mortgage gives younger buyers a sustainable way to step onto the property ladder in our most expensive capital city,' he said. 'It can be a strategic platform for growth.' According to Mr Warren, homebuyers should also consider townhouses and three-bedroom apartments in price-gap suburbs that offer space, functionality and long-term value without the premium of detached dwellings. 'The savvy move right now is to find the product that's flying under the radar but poised to benefit as the market recalibrates,' he said. 'With the current price dynamics opening a narrow window of opportunity, those with a strategic lens – and a willingness to look beyond traditional housing narratives – could reap the rewards for years to come.' MORE: Home prices soar again: biggest winners revealed
Yahoo
15-07-2025
- Business
- Yahoo
Canadian home sales rise 2.8% in June
TORONTO (Reuters) -Canadian home sales rose 2.8% in June from May and were up 3.5% on an annual basis, data from the Canadian Real Estate Association showed on Tuesday. The industry group's Home Price Index edged down 0.2% on the month and was down 3.7% annually, while the national average selling price was down 1.3% on the year.
Business Wire
07-07-2025
- Business
- Business Wire
ICE Mortgage Monitor: Amid a Cooling Housing Market, Early Signs of Homeowner Risk Emerge
ATLANTA & NEW YORK--(BUSINESS WIRE)--ICE Mortgage Technology, a neutral provider of a robust end-to-end mortgage platform and part of Intercontinental Exchange, Inc. (NYSE: ICE), today released its July 2025 Mortgage Monitor report. ICE data reveals that beneath the surface of a broadly cooling but stable housing market, early signs of financial stress are emerging among subsets of homeowners. Pockets of vulnerability can be seen in rising negative equity, increased use of mortgage products that improve short-term affordability, and exposure to student loan debt. Softening home prices expand from the Sunbelt to Western states, driving increased negative equity According to ICE's Home Price Index, annual home price growth slowed to 1.3% in early June, and 30% of the largest markets have seen prices dip by at least a full percentage point from their recent highs. While this deceleration may help affordability, it could potentially weaken the equity positions of borrowers who purchased more recently, particularly those using FHA and VA loans, which are low down payment products. Nationally, one in four seriously delinquent loans would be in a negative equity position if sold at distressed (REO) prices. In certain markets, the figures are more pronounced: in Cape Coral, Fla., 27% of all 2023 and 2024 vintage loans are now underwater, while in Austin, Texas, the rate is 18% among 2022 vintage loans. ARM and temporary buydown usage reflect affordability pressure More than 8% of borrowers financed homes with ARMs or temporary buydowns this year, which reduce monthly payments in the first years of the loan. While these loans provide short-term relief, they may introduce future payment shock, particularly if interest rates remain elevated or reset higher. Student loan delinquency greatly increases mortgage delinquency risk The return of both payments and collection efforts on defaulted federal student loans, which resumed in May after a five-year pause, may put additional financial strain on some homeowners. Analysis of ICE McDash data and ICE Tradelines data powered by TransUnion shows that nearly 20% of mortgage holders also carry student loan debt. Among FHA borrowers, that number rises to nearly 30%. Borrowers delinquent on student loans are four times more likely to be delinquent on their mortgage. 'While the slowdown in home price growth may be easing affordability pressures, and negative equity volumes remain low, we're beginning to see localized pockets of recent homebuyers becoming financially exposed,' said Andy Walden, Head of Mortgage and Housing Market Research at ICE. 'Borrowers with minimal equity — particularly those who purchased recently — are often the first to be exposed when home prices soften. These early signs of stress highlight the importance of monitoring borrower-level risk as market conditions evolve.' Meanwhile, ICE Home Price Dynamics is beginning to show the impact of softening home prices on equity positions in credit risk transfer (CRT) securitizations with the majority of CRT deals issued in 2023 and 2024 having seen modest upticks in negative equity rates in recent months. 'As figures from the July Mortgage Monitor bear out, national averages don't tell the full story,' said Tim Bowler, President of ICE Mortgage Technology. 'We're seeing early signs of risk building within specific markets and within specific borrower populations, like borrowers with limited equity or who are behind on student loans. This is when proactive monitoring and data-driven risk management become essential. Identifying and engaging these borrowers early may prevent hardship later.' The full July Mortgage Monitor report contains a deeper analysis of May mortgage performance, a housing market update featuring June ICE Home Price Index (HPI) data, an analysis of the impact of student loans on homeowners and a look at loan origination operational trends. Further detail, including charts, can be found in this month's Mortgage Monitor report. About the ICE Mortgage Monitor ICE manages the nation's leading repository of loan-level residential mortgage data and performance information covering the majority of the overall market, including tens of millions of loans across the spectrum of credit products and more than 160 million historical records. The ICE Home Price Index provides one of the most complete, accurate and timely measures of home prices available, covering 95% of U.S. residential properties down to the ZIP code level. In addition, the company maintains one of the most robust public property records databases available, covering 99.9% of the U.S. population and households from more than 3,100 counties. ICE's research experts carefully analyze this data to produce a summary supplemented by dozens of charts and graphs that reflect trend and point-in-time observations for the monthly Mortgage Monitor report. To review the full report, visit: About Intercontinental Exchange Intercontinental Exchange, Inc. (NYSE: ICE) is a Fortune 500 company that designs, builds, and operates digital networks that connect people to opportunity. We provide financial technology and data services across major asset classes helping our customers access mission-critical workflow tools that increase transparency and efficiency. ICE's futures, equity, and options exchanges -- including the New York Stock Exchange -- and clearing houses help people invest, raise capital and manage risk. We offer some of the world's largest markets to trade and clear energy and environmental products. Our fixed income, data services and execution capabilities provide information, analytics and platforms that help our customers streamline processes and capitalize on opportunities. At ICE Mortgage Technology, we are transforming U.S. housing finance, from initial consumer engagement through loan production, closing, registration and the long-term servicing relationship. Together, ICE transforms, streamlines, and automates industries to connect our customers to opportunity. Trademarks of ICE and/or its affiliates include Intercontinental Exchange, ICE, ICE block design, NYSE and New York Stock Exchange. Information regarding additional trademarks and intellectual property rights of Intercontinental Exchange, Inc. and/or its affiliates is located here. Key Information Documents for certain products covered by the EU Packaged Retail and Insurance-based Investment Products Regulation can be accessed on the relevant exchange website under the heading 'Key Information Documents (KIDS).' Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 -- Statements in this press release regarding ICE's business that are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see ICE's Securities and Exchange Commission (SEC) filings, including, but not limited to, the risk factors in ICE's Annual Report on Form 10-K for the year ended December 31, 2024, as filed with the SEC on February 6, 2025. Source: Intercontinental Exchange Category: Mortgage Technology ICE-CORP
Herald Sun
30-06-2025
- Business
- Herald Sun
Melbourne property prices rise again amid renewed demand
Melbourne is gaining momentum for home price growth in June, with new PropTrack data confirming the city's long-awaited property market recovery is finally taking hold. Photo: iStock Melbourne's housing market is gaining momentum, with new figures showing prices have risen for a second consecutive month and annual growth turned positive for the first time in more than two years. PropTrack's latest Home Price Index reveals home values climbed 0.3 per cent in June, taking Melbourne's annual growth to 1 per cent. The median home value now sits at $818,000, up $10,600 over the past year, despite remaining 1.1 per cent below the March 2022 peak. RELATED: Hamptons-style Melb home set to turn heads Auction twist as newcomers seize Greenvale keys Melb's ultimate $10m+ property checklist PropTrack senior economist Eleanor Creagh said it was a clear sign the city had turned the corner. 'Melbourne has been one of the weakest-performing capital city markets over the past five years, but we are now seeing momentum return,' Ms Creagh said. 'That's largely due to improved buyer confidence off the back of expected rate cuts and Melbourne's relative affordability, especially when compared to cities like Sydney and Brisbane.' PropTrack senior economist Eleanor Creagh says momentum is building in Melbourne's market, with confidence returning and values rising for a fourth straight month. New data reveals how Melbourne's property market is bouncing back, with values rising and buyer demand heating up across the city. Melbourne's $3000 month on month keeps the city's median dwelling price – combining houses and units – below Adelaide, Brisbane, Perth and Sydney in June. Ms Creagh said unit values, now just 3.6 per cent shy of their previous peak, are benefiting as buyers 'move down the value chain', she added. O'Brien Frankston director Mark Burke said outer-metro property markets were heating up, driven by increased activity from first-home buyers and interstate investors. 'There's definitely momentum building across the city,' Mr Burke said. Buyers are back in force at Melbourne auctions, with intense competition and rising confidence driving up home values across the city. 'Interest rates are expected to drop further, and we all know what happens then, prices go up. 'Buyer's agents are often bidding on behalf of Sydney clients now, at one auction we had 12 registered bidders, but a few big knockout bids quickly wiped out the competition.' While regional Victoria posted a slower 0.1 per cent rise in June, Ms Creagh said standout markets were Bendigo, Ballarat and northwest Victoria where annual growth was up to 4.25 per cent. This renovated Frankston North home sold for $852,000, showing Melbourne's gaining momentum. Geelong, the state's largest regional city, saw unit prices rise 1.1 per cent over the past quarter to a median of $555,000 and house prices rise 0.71 per cent in to $761,000. 'It's a value-driven shift that's reshaping growth across the state,' Ms Creagh said. Melbourne Property Advocates director Simon Murphy says buyers priced out of the city are turning to regional hubs like Bendigo for better value and growth potential. Melbourne Property Advocates director Simon Murphy said affordability was also drawing interest to regional areas. 'Buyers who once looked in suburbs like Sunshine are now turning to Bendigo, where $650,000 can buy a home, allow for renovations, and deliver $200,000 in equity gains before you even move in,' Mr Murphy said. Jellis Craig Bendigo director Matt Leonard said the regional city remained a hot spot, even with higher taxes in Victoria. 'We're now dealing with buyers' advocates from WA, QLD, SA and NSW, all chasing investment properties here,' Mr Leonard said. PROPTRACK HOME PRICE INDEX JUNE 2025 Region Monthly Growth % Annual Growth % Annual Growth $ Sydney 0.5% 3.3% $47,500 Melbourne 0.3% 1.0% $10,600 Brisbane 0.3% 8.3% $74,800 Adelaide 0.6% 9.8% $71,500 Perth 0.3% 7.8% $64,700 Hobart 0.5% 2.3% $14,300 Darwin 0.2% 5.8% $31,900 Canberra 0.3% 0.5% $15,200 Capital cities 0.4% 4.1% $43,900 Regional NSW 0.3% 4.3% $33,100 Regional Vic 0.1% 1.2% $13,200 Regional Qld 0.5% 9.2% $70,700 Regional SA 0.4% 12.9% $56,400 Regional WA 0.4% 10.9% $51,400 Regional Tas 0.1% 3.3% $19,700 Regional NT 0.1% 1.5% $1,700 Regional areas 0.3% 6.0% $40,900 Nationally 0.4% 4.6% $40,900 Source: PropTrack Sign up to the Herald Sun Weekly Real Estate Update. Click here to get the latest Victorian property market news delivered direct to your inbox. MORE: James Packer's new deal at Melbourne supermarket site Inside 'Hospitality Yoda's luxe Melb home Tragic side of Aus housing crisis exposed
