1/31: MetroIntelligence Economic Update by P. DUFFY

December pending home sales index fell 2.2 percent from November, down 9.8 percent year-on-year

The Pending Home Sales Index decreased 2.2 percent to 99.0 in December, although it rose 1.7 percent in the West.  Additionally, year-over-year national contract signings fell 9.8 percent, making this the twelfth straight month of annual decreases.



November Case-Shiller Index:  5.2 percent annual gain vs. 5.3 percent in October

The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index reported a 5.2% annual gain in November, down from 5.3% in the previous month.  It was up 0.1% from October to November.



Mortgage applications dip 3.0 percent in weekly survey, rates nudge up slightly

The Market Composite Index decreased 3.0 percent on a seasonally adjusted basis from one week earlier, with purchase loans down 2.0 percent and refinance activity falling 6.0 percent. The average contract interest rate for 30-year fixed-rate mortgages increased to 4.76 percent from 4.75 percent.


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