MARCH 2021 HOUSING REPORT

Seller Traffic Index

NAR

10.5

9.5 Months Inventory of
8.5 HOMES FOR SALE

7.5

2011 - Today

6.5

5.5

4.5

3.5

2.5

1.5 Jan uary Jan uary Jan uary Jan uary Jan uary Jan uary Jan uary Jan uary Jan uary Jan uary
J an uary 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
2011
NAR

Months Inventory of
HOMES FOR SALE
last 2 years 4.6

4.2 4.3 4.3 4.2

3.8 3.8 4.0 4.0 3.9 4.0 3.9
3.6 3.7

3.3 3.1 3.0
3.0 3.1 3.1

2.7
2.5
2.3

1.9 1.9

Jan -19 Feb Mar Apr May Jun e Jul y Aug Sep t Oct No v De c Jan -20 Feb Mar Apr May Jun Jul Aug Sep t Oct No v De c Jan -21

NAR

Months Inventory of HOMES FOR SALE
Last 12 Months
4.6

4.0 3.9

3.3 3.1 3.0
3.1
2.7
2.5
2.3

1.9 1.9

Feb Mar Apr May June July Aug Sept Oct Nov Dec Jan

NAR

Year-over-Year
Inventory Levels

Ja nu ar y Ja nu ar y Ja nu ar y Ja nu ar y Ja nu ar y Ja nu ar y Ja nu ar y Ja nu ar y
2014 2015 2016 2017 2018 2019 2020 2021

NAR% 7. 5. 3. 6. 6. 5. 5. 4. 6. 5. 5. -0 -0 -0 2. -0 1. 0. -4 -1 -3 -4 -1 -3 -2 -1 -1 -3 -9 -5 -5 -1 -6 -1 -9 -6 -7 -6 -6 -9 -8 -7 -9 -6 -6 -1 -9 -1 -9 -8 -7 -6 -6 0. 0. 2. 1. 2. 4. 6. 4. 2. 2. 1. 2. 0. -1 -2 -2 -4 -5 -9 -1 -9 -1 -1 -1 -1 -2 -1 -1 -1 -2 -2 -2

HOUSING SUPPLY
Year-Over-Year

Feb Mar Apr May June Jul Aug Sept Oct Nov Dec Jan 2021

-9.8% -10.20%

-19.70% -18.8% -18.2% -18.6% -19.2%

Last 12 Months -21.1% -19.8%

-22.0%

-23.8%

-25.7%

NAR

New Home Inventory
months supply
Last 12 Months

6.1 5.2
4.9
5.6
4.4
5.1
4.8

3.8 3.7 3.7
3.4 3.5

Feb Mar Apr May Jun Jul Aug Sept Oct Nov Dec Jan 21

Census

New Home Inventory
months supply
2020 2021

6.1

5.6 5.6

5.1 4.8 5.2
4.4 4.9

3.8 3.7 3.7
3.4 3.5

ene feb mar abr mayo jun jul ago sept oct nov dic

Census

BUYER

DEMAND

“Home shoppers carried their end-of-year showing activity
momentum into January, with home tours across the country up
55.1 percent year-over-year as more listings came on the market
in some metro areas.” - ShowingTime

Year-Over-Year Increase in Showing Activity

90.0%

55.1% 52.2% 57.3% 51.0%

U.S. Northeast Midwest South West

Buyer Traffic Index

NAR

INTEREST
RATES

Mortgage Rates 1/4
2/1
Freddie Mac 30-Year Fixed Rate 3/1

3.95% 4/5
5/3
3.02%
6/7
Freddie Mac 7/5
8/2

9/6
10/4
11/1

12/6
1/3

1/31

3/7
4/4
5/2

6/6
7/3
8/1

9/5
10/3

11/7
12/5

1/2

2/6
3/5
4/2

5/7
6/4
7/2

8/6
9/3
10/1

11/5
12/3

1/7
2/4

1/7/16 30-Year Fixed
2/4 Rate Mortgages
3/3 from Freddie Mac

4/7 3.97%
5/5
6/2 3.02%

7/7Freddie Mac
8/4
9/1

10/6
11/3
12/1

1/5/2017
2/2
3/2

3/30
4/27
5/25
6/22
7/20
8/17
9/14
10/12
11/9
12/7
1/4/2018

2/1
3/1

4/5
5/4

6/7
7/5
8/2

9/6
10/4
11/1

12/6
1/3/2019

1/31

3/7
4/4
5/2

6/6
7/3
8/1

9/5
10/3

11/7
12/5
1/2/2020

2/6
3/5
4/2

5/7
6/4
7/2

8/6
9/3
10/1

11/5
12/3

1/7/2021
2/4
3/4

Mortgage Rate Projections

Quarter Freddie Fannie MBA NAR Average
Mac Mae of All Four

2021 2Q 2.9 2.8 3.1 3.0 2.95%

2021 3Q 3.0 2.9 3.3 3.0 3.05%

2021 4Q 3.0 2.9 3.4 3.1 3.10%

2022 1Q 3.1 3.0 3.6 3.2 3.22%

- Actual 2018 Mortgage Rates
- Projected
Freddie Mac
2019 30-Year Fixed Rate

2017

2016 2020
2021

2022

2016 2016 2016 2016 2017 2017 2017 2017 2018 2018 2018 2018 2019 2019 2019 2019 2020 2020 2020 2020 2021 2021 2021 2021 2022 2022 2022 2022
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
Rate 3.7 3.6 3.5 3.8 4.2 4.0 3.9 3.9 4.3 4.5 4.6 4.8 4.4 4 3.7 3.7 3.5 3.2 3.0 2.8 2.9 2.9 3.0 3.0 3.1 3.1 3.2 3.2

Freddie Mac

Mortgage Rates
Freddie Mac
30-Year Fixed Rate

January 2018 – Today Where Are They Going?
Actual Interest Rates
3.1
1/4 3.0 3.0
2/1 2.9
3/1
4/5 2021 Q2 2021 Q3 2021 Q4 2022 Q1
5/3
6/7 Freddie Mac
7/5
8/2
9/6
10/4
11/1
12/6
1/3
1/31
3/7
4/4
5/2
6/6
7/3
8/1
9/5
10/3
11/7
12/5
1/2
2/6
3/5
4/2
5/7
6/4
7/2
8/6
9/3
10/1
11/5
12/3
1/7
2/4
3/4

Mortgage Credit Availability

YES NO MAYBE

Mortgage Credit
Availability

Mortgage Credit Availability Index (MCAI), a report
from the Mortgage Bankers Association

Apr Jan Jan Jan Jan Jan Jan Jan Jan
2013 2014 2015 2016 2017 2018 2019 2020 2021

MBA

900

800

700 Historic Data for the

600 MORTGAGE CREDIT
500 AVAILABILITY INDEX

(a report from the Mortgage Bankers Association)

400

300

200

100

0
Jun e 200 4 Jun e 200 5 Jun e 200 6 Jun e 200 7 Jun e 200 8 Jun e 200 9 Jun e 201 0 Jun e 201 1 Jun e 201 2 Jun e 201 3 Jun e 201 4 Jun e 201 5 Jun e 201 6 Jun e 201 7 Jun e 201 8 Jun e 201 9 Jun e 202 0 Jan uary
20 21
MBA

Average Days To Close A Loan

Last 12 Months

56 57
45 45 46 47 46 44 45 47 48 49

Feb Mar Apr May June July Aug Sept Oct Nov Dec Jan 21

All Closed Loans as per Ellie Mae

FICO® Score Requirements

Last 12 months

749 750 751 750 752 753 753 752 751 752
742
738

Feb Mar Apr May Jun Jul Aug Sept Oct Nov Dec Jan 21

All Closed Loans as per Ellie Mae

FICO® Score 38.01%

Distribution

23.29%

17.46% 15.01%

0.02% 0.21% 6.00% 650-699 700-749 750-799 800+

500-549 550-599 600-649

46.98% All Closed Loans as per Ellie Mae

Average FICO® Score
for Closed Purchase Loans
752 757 by Loan Type

723

683

All Loans Conventional FHA VA

All Closed Loans as per Ellie Mae

Average Back End DTI 41

for Closed Purchase Loans by Loan Type

43

34 35

All Loans* Conventional FHA VA

All Closed Loans as per Ellie Mae