Home prices

Despite the surge of inventory, the number of available homes is still below pre-pandemic levels, while price movements show wide regional variations, ICE Mortgage Technology said.

Compared to a year ago, investors bought a greater number of properties and made up a larger share of overall purchases, returning to the market faster than individual buyers, according to Redfin.

Price growth is decelerating but still driving historic home equity gains for owners and widening the gap between the haves and have-nots in housing, ICE finds.

The transactions grew between second and third quarter, with the new-home market seeing one of its largest surges in cash-buying in 13 years.

A shortage of listings has pushed up prices, boosting the total value of US homes to a record $47 trillion, Redfin reported. 

Ten Western states that benefited from a pandemic-driven boom reported value declines in May, CoreLogic said.

But there are regional variations in housing markets across the country, the Federal Housing Finance Agency said.

Home price overvaluations over 10% are easing in some markets, analysts say, but RMBS investors are still cautiously tightening liquidity amid uncertainty.

Housing costs increased at the slowest pace in over a decade nationwide, even while monthly growth now exceeds its pre-pandemic level.

Fannie Mae researchers found housing costs decelerating for the fourth straight quarter, but limited inventory may be driving hopeful buyers to look for opportunities in the new-construction market.