Home prices

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.

And in January, all-cash buyers reached their highest share in nine years, at 32.1%, Redfin said.

By the end of December, 63% of borrowers saw home values increase by 7.3%, for a collective gain of $1 trillion, CoreLogic's report found.

"This is Han Solo in carbonite: This is a market that could stay frozen for quite some time," said Benjamin Keys, a real estate professor at the University of Pennsylvania's Wharton School.

The decline in loan activity and softening prices also helped drive down builder sentiment for the 11th month in a row.

Quarterly numbers also show the smallest gain in appreciation since 2011, with values decreasing on an unadjusted basis, according to Fannie Mae.

Housing's unusually high appreciation rates have now slowed for three months straight, and the number of metropolitan areas that are considered overvalued keeps growing, according to CoreLogic.

Prices are starting to fall in one of the most expensive cities in the U.S. but they are still much higher than their pre-pandemic levels.

Several Sun Belt cities popular for relocation over the last two years were among markets with the most reduced listing prices in April.

A measure of home prices in 20 U.S. cities jumped 18.3%, down from 18.5% in October, the S&P CoreLogic Case-Shiller index showed Tuesday. It marked the fourth straight month that home-price appreciation has cooled off ever so slightly.

The share of borrowers who thought it was a good time to buy hit an all-time low, according to Fannie Mae.

The home price increases and the ongoing inventory shortage made buying conditions difficult and many think it’s only getting more challenging, according to RealtyTrac.

Southwestern housing markets had the largest annual changes in median monthly home loan payments, with one increasing more than 30%, according to Redfin.

Meanwhile, property values across the U.S. have increased for 40 quarters in a row, according to the Federal Housing Finance Agency.