Each month, the U.S. Department of Housing and Urban Development and the Department of the Treasury collect key data on the housing market and the federal government’s foreclosure prevention programs. The Housing Scorecard is a comprehensive report and a snapshot of the housing market’s health from month to month. In March, the scorecard found many encouraging signs. For example, it highlights the fact that, despite severe weather in much of the country, February new home sales were at their fastest pace in seven years. Also, homeowners’ equity continues to rise. Equity – which refers to a property’s total value minus the amount still owed on the mortgage – has now risen $5.1 trillion since 2009 and jumped another 2.4 percent in the fourth quarter of last year. The continued improvement is good news for current and prospective homeowners. The report also shows home prices continuing to stabilize and foreclosure starts trending downward year-over-year. However, despite the many positive signs, the report cautions that there is still considerable geographic variation in market conditions and work to be done to foster home sales, help underwater homeowners, and reduce mortgage delinquency rates. More here.

According to the Mortgage Bankers Association’s Weekly Applications Survey, the number of Americans requesting applications for loans to buy homes rose again last week. The 7 percent improvement marks the third-consecutive week of gains and may be a good indication of an upcoming rise in home sales. “Purchase mortgage application volume last week increased to its highest level since July 2013, spurred on by still low mortgage rates and strengthening housing markets,” Mike Fratantoni, MBA’s chief economist, said. But, though mortgage rates remain historically low, the survey found a 3 percent decline in refinance activity last week. In fact, refinance activity fell to just 57 percent of total application demand, even as rates dropped across all loan categories. According to the survey, average mortgage rates were down on 30-year fixed rate loans with both conforming and jumbo balances, loans backed by the Federal Housing Administration, and 15-year fixed-rate mortgages. The MBA’s weekly survey has been conducted since 1990 and covers 75 percent of all retail residential mortgage applications. More here.

For many months, real estate analysts and economists have been forecasting improved home sales and housing activity this spring and throughout 2015. Part of the reason for the optimistic outlook has been the improving job market and the expectation that Americans would begin to see increasing incomes this year. However, the year got off to a slower than expected start and subdued economic reports have led to a dip in overall sentiment, according to the latest National Housing Survey from Fannie Mae. The survey found fewer respondents saying they expect their personal financial situation to improve over the next 12 months. There were also fewer participants who said their income was significantly higher than it was one year ago. Doug Duncan, Fannie Mae’s senior vice president and chief economist, said the results emphasize how critical attitudes about income growth are to Americans’ feelings about the housing market. “We’ve seen modest improvement in total compensation resulting from a strengthened labor market,” Duncan said. “However, income growth perceptions and personal financial expectations both eased off of recent highs … Simultaneously, the share of consumers expecting to buy on their next move has declined. We believe the recent setback in consumer sentiment should be short lived if early signs of income growth bear out and occur in proportion to expected interest rate increases.” More here.

According to the results of the National Association of Realtors’ most recent Realtors Confidence Index, surveyed real estate professionals across the country have an optimistic take on what’s ahead for the housing market over the next six months. In fact – when measured on a scale where any number above 50 indicates more respondents view the market as strong rather than weak – the outlook for single-family homes has risen to 75. That’s a three-point improvement over the previous month and a seven-point gain over last year’s level. In particular, Realtors said that home buyers should be helped by the reduction in monthly mortgage insurance premiums and the offering of 3 percent down-payment loans. The positive forecast is in line with what many industry analysts have been saying for the past several months. Expectations for a strong spring selling season are based largely on the fact that mortgage rates are still historically low, the economy and labor market have been improving, and there is growing demand among young adults who hope to become homeowners. More here.

When shopping for a house to buy, there are a number of features that could rank highly on a home buyer’s must-have list. Anything from a pool to energy-efficient appliances, a big kitchen, or extra storage space might rank near the top. And houses with the day’s hottest features are sure to sell quickly and at a premium. But, according to a new analysis from RealtyTrac, the number of bathrooms a home has may be among the best indicators of how easily it will sell and for what price. Between 2001 and 2014, homes with two bathrooms saw a 43 percent rise in value, while six bathrooms helped a house nearly double its worth. In fact, the average sales price of a home with six bathrooms was $530,433 in 2001 and, by 2014, the average rose to $1,014,964. Granted, since the high-end of the housing market rebounded more quickly from the housing crash – in addition to the fact that extra bathrooms mean more square footage – that may not be that surprising. However, it can’t be denied that a home with more bathrooms will be more attractive to most buyers. As evidence of that, 40 percent of American homes had a bath-and-a-half or less at one time. Now, just 5 percent of homes have less than one-and-a-half baths. More here.

Increasingly, home buyers say energy efficient features, such as low-E windows, Energy Star-rated appliances, and programmable thermostats, top the list of things they most want to have in their new house. And, according to a release from the National Association of Home Builders, more builders are including these features to meet that demand. “Our builder members are telling us that more and more buyers are looking at new homes for their efficiency in design and functionality,” Tom Woods, NAHB’s chairman, said. “Whether it’s improved insulation or sustainable building materials, today’s new homes can reach higher energy performance and greater durability than was possible even 20 years ago.” In fact, a recent survey of single-family home builders found nearly 25 percent of builders installed alternative energy-producing equipment in new construction, including geothermal heat pumps and photovoltaic solar panels. And the trend should continue to grow as more first-time buyers enter the market. That’s because the vast majority of Millennial buyers say they’re willing to pay 2 to 3 percent more for an energy-efficient home as long as they will see a return on their utility bills. More here.

According to the Mortgage Bankers Association’s Weekly Applications Survey, demand for loans to buy homes rose 6 percent last week from the week before and is now 8 percent higher than the same week one year ago. The improvement may be an indication that potential buyers are ready to start looking for a home to purchase. “There was a broad based increase in mortgage applications last week relative to the week prior,” Lynn Fisher, MBA’s vice president of research and economics, said. “The increase in purchase volume was led by a nearly 6 percent increase in both conventional and government markets, perhaps signaling that households are finally ready to begin the home-buying season.” In addition to increasing purchase demand, refinance activity was also up last week, rising 4 percent from the week before. The jump in refinance applications came despite mortgage rates being relatively unchanged from the previous week. In fact, rates were up slightly for loans backed by the Federal Housing Administration, loans with jumbo balances, and 15-year fixed-rate mortgages. Interest rates on 30-year fixed-rate loans with conforming loan balances were down but not significantly. The MBA’s weekly survey has been conducted since 1990 and covers 75 percent of all retail residential mortgage applications. More here.