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First American’s Q2 2016 Real Estate Sentiment Index:
Title agent expectations for growth in purchase and refinance transactions across all property types in the year ahead are 17.3 percent more positive year-over-year. Quarter over quarter, title agents’ confidence in purchase market growth increased 12.9 percent and 23.2 percent for refinance transactions. Title agents are now predicting 4.0 percent real estate price growth over the next 12 months, a slight drop from the Q1 prediction of 4.6 percent annualized price growth. First-time buyer volume increased 15 percent year-over-year. First-time buyers accounted for 59.1 percent of primary owner-occupied home purchase mortgages with a government guarantee. The combined first-time buyer mortgage share index was 53.2 percent, up from 52.9 percent in May 2015.Email market reports to press@inman.com.
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