The document contains statistics and analyses from various sources about the housing market in the United States. It includes data on average days to close a loan, new home selling times, distressed property sales, rental costs, home value appraisals, mortgage rates, and perceptions about obtaining mortgages. Experts quoted provide analyses that financial advantages of homeownership will still exist even if rates rise and that eligible buyers should purchase if their budget allows for it given today's rates.

1. Average Days on the Market
By State
NAR

2. June July August September October November December
4949
4646
47
4848
Average days needed to close a loan…
49 days is the longest time needed to
close a loan since February 2013
All closed loans as per Ellie Mae

3. Dec Jan-15 Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
3.03.0
2.9
3.2
3.53.5
4.0
3.0
4.0
3.8
3.3
3.2
3.0
New Homes Selling Fast
(median months from completion to sold)
Census

4. Jan 2012 Jan 2013 Jan 2014 Jan 2015
Percentage of
Distressed Property
Sales
35%
8%
11%
NAR 1/2016
January 2012 - Today

5. …according to the First-Time Buyer Mortgage Share
Index by AEI’s International Center on Housing Risk
57%of all buyers were
first time buyers
this month
AEI’s International Center on Housing Risk
First Time Home Buyers

6. $300
$350
$400
$450
$500
$550
$600
$650
$700
$750
$800
$850
1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
Median Asking
RENT
since 1988
Census

7. Quicken Loans
Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan-16
-1.8
-1.87
-1.98-2
-2.65
-2.33
-1.4
-1.15
-0.69
-0.4
-0.13
0.18
Appraiser Home Value Opinions
Compared to Homeowner Estimates
Last 12 Months

8. 2015 Q1 2015 Q3 2016 Q1 2016 Q3 2017 Q1 2017 Q3
Freddie Mac
Mortgage Rates
Freddie Mac
30 Year Fixed Rate
- Actual
- Projected2015
2016
2017

9. “In many markets, mortgage
rates would have to be
7, 8, 9, even 10%
for the cost of owning to roughly
equate to the cost of renting.
So the financial advantage for
home ownership will still persist
even if mortgage rates rise.”
Ralph McLaughlin
Chief Economist at Trulia

11. “If at today’s interest
rates and house prices
they can find the house
that can fit their budget,
they should buy.”
Doug Duncan
Fannie Mae’s Senior VP and Chief Economist

12. Difficult Easy
Respondents who think it would be …
to get a home mortgage today.
Fannie Mae HPSI

13. This research suggests
that there are too many
eligible homebuyers sitting
on the sidelines due to
misperceptions or anxiety
about being turned down for a loan.
Fannie Mae

14. All Buyers Repeat Buyers 1st Time Buyers
6%
14%
10%
Typical Down Payment
NAR