Home prices

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.

Home prices grew at a record annual pace in April but indicators of a possible slowdown popped up in May, Redfin noted.

Federal Reserve Chair Jerome Powell is dismissing claims that loose monetary policy has led to rising home values and shrinking inventory and insists that the market is buoyed by creditworthy borrowers and investors.

The increase won’t hurt the incentive for the average home shopper, but it means those who were looking to “buy the dip” in prices amid the pandemic may have missed their chance.

The price increase illustrates the extent to which federal rescue programs and a supply-demand imbalance have been counterweights to economic pressures from the pandemic.

With a dearth of inventory, September generated the largest price growth in the housing market since May 2014, according to CoreLogic.

Low mortgage rates and strained supply drove the housing market price growth to a 26-month high in August, according to CoreLogic.

More defaults will lead to an increase in distressed sales, and that will drive down prices, CoreLogic said.

Potential sales last month rose compared with April as homes became more affordable due to low mortgage rates.

A Clever Real Estate survey found a significant share of new borrowers are not making their full payment.

Some cities saw drops in annual housing supply nearing 40% in early May, according to Zillow.

The S&P CoreLogic Case-Shiller home price index hasn't yet reflected the impact of the coronavirus, but an independent market maker has some thoughts on how it might.

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