AEI住房市场指标，2023年3月（英）

AEI Housing Market Indicators (HMI)Transforming data into information, information into knowledge, knowledge into action.Edward PintoDirector and Senior Fellow(Edward.Pinto@aei.org)Tobias Peter Assistant Director and Director of Research(Tobias.Peter@aei.org)AEI.org/housing | March 28, 2023Link to AEI HMIs:https://www.aei.org/housing/housing-market-indicators/Link to AEI HEAT Toolkit:https://heat.aeihousingcenter.org/toolkitWe grant permission to reuse this presentation, as long as you cite as the source: AEI Housing Center, www.aei.org/housing. Disclosure: The authors have a financial relationship with Places Platform LLC, which is interested in meeting housing supply shortages through walkable oriented development and in the development of metrics for all types of real estate.AEI Housing Market Indicators: An Introduction•Provide accurate and timely metrics for the housing market. These include:•Mortgage Risk/Leverage•Particular attention is paid to agency first-time buyer volume and risk•House price appreciation trends•Housing sales •New and existing sales whether institutionally financed, cash, or other-financed•Months’ inventory•The housing market is influenced by many different levers. Measuring and evaluating with the right metrics provides a clearer understanding of market trends.•AEI HMI adds geography and price points to the broad set of metrics:•Geography: national, state, and selected metros •House prices down to the census tract level•Price points: low, low-medium, medium-high, and high price tiers•Price tiers are defined based on the availability of leverage for borrowers at the metro level.•Expanded Housing Market Indicators use and connect many different datasets:•HMDA•Public Records Data•National Mortgage Risk Index (agency MBS data)•CoreLogic’s LLMA and Black Knight’s McDash (servicer data)•Fannie Mae’s Loan Performance data and Freddie Mac’s Loan-Level Data (acquisition data)•FHA Snapshot data (endorsement data)•Data from Zillow on existing home sales and unique listings•Advantages of the AEI Housing Market Indicators:•Most in-depth resource for key housing data and trends (select data available online for download)•Accurate, timely, and in-depth coverage of purchase trends•Connects the dots for many housing indicators, yielding the most comprehensive analysis of the housing market and boom/bust cycles•Detailed methodologies are available after “Remaining Briefing Dates” slide.23*Market share of all institutionally financed home sales in 2021 by tier.Note: Data excludes Rural Housing Service. In 2017, Rural Housing Service loans made up 3% of the low tier, 2% of the low-medium tier, and a negligible amount of the two upper tiers. Price tiers are set quarterly at the metro level and are defined as follows: Low: all sales at or below the 40th percentile of FHA sales prices; Low-Medium: all sales at or below the 80th percentile of FHA sales prices; Medium-High: all sales at or below the 125% of the GSE loan limit; and High: all ot