During his State of the Union address Tuesday evening, President Barack Obama did not make any substantial announcements regarding the housing market, government mortgage-backed securities, or the GSEs. However, "lower mortgage premiums" were mentioned, alongside "child care and sick leave and equal pay" as "ideas [that] will make a meaningful difference in the lives of millions of families."

While at a national level the housing market continues to recover, a look at local markets reveals a recovery that is most prominent in high-income areas, while lower-income neighborhoods continue to struggle. ProTeck Valuation Services delves into this phenomenon in its latest Home Value Forecast, with a spotlight on the Seattle metro area.

After declining for most of the year thus far, the share of refinance loans experienced a 3 percentage point boost in September, according to the latest Origination Insight Report from Ellie Mae. At the same time, a lower percentage of loans made their way to closing in September compared with the month before, and the time it took to close those loans that did make their way through the approval process increased, according to Ellie Mae.

Condo prices are rising faster than single-family home prices, according to the Trulia Price Monitor, which observes asking prices on a monthly basis. Asking prices for condos rose 7.3 percent year-over-year in September, while asking prices for single-family homes rose 6.0 percent. Condo price gains outpaced single-family price gains in 18 of the largest 20 condo markets, according to Trulia.

Persisting tight lending standards may have cost the housing market about 18,700 new home sales in the last six months, according to a survey conducted by the National Association of Home Builders (NAHB). A large majority—83 percent—of homebuilders surveyed stated they lost sales because potential buyers did not qualify for mortgage loans. The average builder lost nearly 10 percent of sales for this reason, according to the NAHB survey.

Mortgage loans are aging, particularly loans to borrowers with lower credit scores, according to the latest data from Jacksonville, Florida-based Black Knight Financial Services. In fact, the average loan age is currently at an all-time high of 54 months, according to the firm. The average mortgage loan age has been on the rise for about nine years, although the uptick in loan originations last year brought on a "temporary slowdown," according to Black Knight.

After posting a slight increase in July, Freddie Mac's mortgage portfolio declined at an annualized rate of 0.4 percent over the month of August, according to the GSE's latest monthly volume summary. Year-to-date, the portfolio's annualized growth rate has averaged -1.6 percent, bolstered by declines near or higher than 2 percent in each of the first five months of the year.

Home price appreciation continues to slow across the country, registering a 0.2 percent increase over the month of July, according to Black Knight Financial Services. The firm's home price index stands at $241,000 as of the end of July.

Consumer confidence reached its highest level since the Great Recession in September, according to the Thomson Reuters and University of Michigan Surveys of Consumers. The index rose 2.5 percent over the month to 77.5. However, "confidence has repeatedly failed to move above this level," according to the survey.

As the housing market continues to mend, analysts find the young-adult sector of the market is lagging. Some feel the lack of young first-time buyers is the main component holding the housing market back. However, this may not be the case everywhere. A burgeoning young, knowledge-based workforce is contributing to housing and overall economic growth in Pittsburgh and Cleveland, according to the latest Home Value Forecast from Pro Teck Valuation Services.