Unexpectedly Intriguing!
June 26, 2019

Since peaking in late November 2018, mortgage rates in the United States have fallen sharply, dropping by more than a percentage point from a peak of an average of 4.87% to 3.83% in June 2019.

30-Year Fixed Rate Mortgage Average in the United States

For existing home sales, the falling interest rates have roughly coincided with a rebound in the U.S. real estate market. The following chart shows the estimated aggregate transaction values for existing home sales in the U.S. (for 41 states and the District of Columbia) from January 2016 through April 2019, which represents the most recent data available from Zillow's databases covering state level residential real estate transactions.

Estimated Aggregate Transaction Values for Existing Home Sales, 41 States and District of Columbia*, January 2016 to April 2019

Breaking these national aggregate sales totals down by U.S. Census region, we find the strongest rebounds have been taking place in the West and in the Northeast in the period since mortgage rates began dropping.

Estimated Aggregate Transaction Values for Existing Home Sales, U.S. Census West Region, January 2016 to April 2019
Estimated Aggregate Transaction Values for Existing Home Sales, U.S. Census Northeast Region, January 2016 to April 2019

Meanwhile, the U.S. South and Midwest regions have seen flat to small gains in the total valuation of existing home sales within them.

Estimated Aggregate Transaction Values for Existing Home Sales, U.S. Census South Region, January 2016 to April 2019
Estimated Aggregate Transaction Values for Existing Home Sales, U.S. Census Midwest Region, January 2016 to April 2019

We'll take a tour through individual states in the U.S. Census' South region in upcoming weeks, focusing on the states where the oil and gas industry accounts for a significant share of the state economies.


Labels:

About Political Calculations

Welcome to the blogosphere's toolchest! Here, unlike other blogs dedicated to analyzing current events, we create easy-to-use, simple tools to do the math related to them so you can get in on the action too! If you would like to learn more about these tools, or if you would like to contribute ideas to develop for this blog, please e-mail us at:

ironman at politicalcalculations.com

Thanks in advance!

Recent Posts

Stock Charts and News

Most Popular Posts
Quick Index

Site Data

This site is primarily powered by:

This page is powered by Blogger. Isn't yours?

CSS Validation

Valid CSS!

RSS Site Feed

AddThis Feed Button

JavaScript

The tools on this site are built using JavaScript. If you would like to learn more, one of the best free resources on the web is available at W3Schools.com.

Other Cool Resources

Blog Roll

Market Links

Useful Election Data
Charities We Support
Shopping Guides
Recommended Reading
Recently Shopped

Seeking Alpha Certified

Archives
Legal Disclaimer

Materials on this website are published by Political Calculations to provide visitors with free information and insights regarding the incentives created by the laws and policies described. However, this website is not designed for the purpose of providing legal, medical or financial advice to individuals. Visitors should not rely upon information on this website as a substitute for personal legal, medical or financial advice. While we make every effort to provide accurate website information, laws can change and inaccuracies happen despite our best efforts. If you have an individual problem, you should seek advice from a licensed professional in your state, i.e., by a competent authority with specialized knowledge who can apply it to the particular circumstances of your case.