3 diamonds in the housing data rough
Despite a freezing winter and a slow start to the spring homebuying season, there are still bright spots in the economy.
This week provided some good tidbits for housing, with mortgage applications rising and record traffic for online real estate sites.
So here are a few shining gems for the housing market in 2014.
1. Record breaking online real estate site traffic
At least people are looking to buy homes.
Trulia consumer traffic accelerated to a new high and experienced more than 51 million unique visitors using the site in May.
“Trulia’s consumer audience is at an all-time high, which is a good indicator of a strong housing market heading into the summer,” said Pete Flint. “The release of our new mobile capabilities this spring, coupled with our national marketing campaign and $50,000 Home Give Away Sweepstakes, is delivering record traffic and a re-acceleration of growth heading into the peak real estate season.”
On the other side, Zillow is also trending higher each month, reaching over 81 million visitors, up from 79 million in April and 70 million at the start of the year in January.
And their stocks are reaping the reward, with Trulia’s stock up 20.12% year-to-date and Zillow’s up 51.83% YTD.
2. Mortgage rates at yearly lows
According to Freddie Mac’s latest Primary Mortgage Market Survey, although rates slightly edged higher for the week ended June 12, they are still low for the year.