Market Update For Week Ending January 9, 2020
The Mortgage Bankers Association’s (MBA) latest Forbearance and Call Volume Survey reported that 5.53% of mortgage loans remained in forbearance as of December 27, 2020. While the forbearance rate is down significantly from its highest levels in 2020, the MBA estimates the current rate represents 2.7 million homeowners currently in forbearance plans.
For the week ending January 9:
• New Listings decreased 0.7% to 279
• Pending Sales increased 6.5% to 261
• Inventory decreased 40.8% to 1,590
For the month of December:
• Median Sales Price increased 16.1% to $245,000
• Days on Market decreased 44.9% to 27
• Pct of List Price Rec’d increased 1.2% to 99.3%
• Months Supply decreased 47.8% to 1.2