Home prices

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.

But average loan sizes remain near record highs, with summer purchases of new constructions continuing to drive up prices.

Tight inventory and heightened competition kept prime purchasers at bay as property values continued their summer surge, according to Fannie Mae.

Concerns about foreclosure and a crowded market led to an increase in listings at lower price points in the second quarter.

Soaring home prices and the abundance of all-cash offers that the deep-pocketed can afford makes home buying even harder for the average borrower, according to a Redfin report.

As rising home valuations force first-time home buyers out of the market, expect to see non-owner-occupied loans to increase.

Competition amongst those shopping for homes fell for the second straight month as surging prices pushed consumers to the sidelines and inventory saw modest gains, according to Redfin.

The lack of homes for sale is supporting the record values, unlike what happened in the mid-2000s, analysts say.