DMS Reveals Western Region Dominated 2019 Mortgage Market With Highest Loan Amounts
2019 Purchase Mortgage Loan Amount Snapshot Report From DMS Highlights Purchase Trends In Mortgage Industry
Clearwater, FL – April 16, 2020 — Digital Media Solutions, LLC (DMS) unveiled the top purchase mortgage market trends of 2019 through the release of its 2019 Purchase Mortgage Loan Amount Snapshot Report. The detailed report, published by DMS Consumer FinanceTM, uses expert insight to identify loan amounts by region, division and month and astutely predicts what mortgage marketers could expect for the future of the mortgage industry.
According to the 2019 Purchase Mortgage Loan Amount Snapshot Report, average anticipated loan amounts were highest in the West, consistent with 2018 regional rankings. Comprised of Alaska, Arizona, California, Colorado, Hawaii, Idaho, Montana, Nevada, New Mexico, Oregon, Utah, Washington and Wyoming, the West collectively had an average anticipated home loan amount of $243,956 among prospective purchase borrowers in 2019. In part due to limited housing inventory, the Pacific division, inclusive of Alaska, California, Hawaii, Oregon and Washington, led the western region for average anticipated purchase loan amount in 2019 — consistent with the National Association of Realtors’ (NAR) research on median home values.
Conversely, while average existing home prices rose across the Midwest, a handful of states in the Midwestern region (Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota and South Dakota) had the lowest average anticipated mortgage loan amounts of all U.S. states. Data from both NAR and the DMS 2019 Purchase Mortgage Loan Amount Snapshot Report supports the theory that inventory fluctuations are a leading factor for changes in average loan amount.
The 2019 Purchase Mortgage Loan Amount Snapshot Report explains that how the purchase mortgage market progresses throughout the remainder of the year will depend largely on the current pandemic, as it impacts employment, the economy and the ability to tour homes. However, many industries are already evolving to contactless systems, and a similar evolution seems likely for the real estate and mortgage industries.
DMS Consumer Finance™ manages an extensive portfolio of owned-and-operated, consumer finance focused websites that attract and educate high-intent borrowers. Using a combination of rich content and borrower resources, DMS Consumer Finance helps consumers connect with the lenders that best support their financial objectives.
The full report and additional insights can be downloaded here.
About Digital Media Solutions®
Digital Media Solutions, LLC (DMS) is the leading global martech company leveraging innovative, performance-driven brand direct and marketplace solutions to connect consumers and advertisers. DMS deploys a robust database of consumer intelligence and leverages massive proprietary media distribution to provide customer acquisition campaigns that grow businesses. Continuing to experience explosive year-over-year growth, DMS has been continuously recognized on the Inc. 5000 list, securing its sixth consecutive ranking in 2019, and the Entrepreneur magazine 360 list. Earlier this year, DMS announced it is anticipating becoming a public company under a reverse merger deal with Leo Holding Corp. Named one of America’s “Best Places to Work” by Inc. magazine and awarded the Excellence in Lead Generation Award by the LeadsCouncil, DMS brings together some of the industry’s most knowledgeable people, efficient processes and sophisticated technology across the digital marketing spectrum. For more information about DMS, visit digitalmediasolutions.com. Keep up with DMS news at insights.digitalmediasolutions.com and connect with us on LinkedIn at www.linkedin.com/company/digital-media-solutions-group.
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