Housing markets

But second home sales — which were below pre-pandemic levels for the first time in 24 months during May — may slow in the future as those in vulnerable areas get tougher to insure.

The median prices for the most sought-after metro areas were on average $128,000 lower than in the city the buyer was leaving, Freddie Mac's study of Loan Product Advisor data found.

Industry leaders suggested they’ve "never felt so worried at a time when everything feels so good otherwise," said Chris Herbert, managing director of the Joint Center for Housing Studies of Harvard University.

Depreciation risk in parts of New Jersey, Illinois and California is growing, according to a first quarter analysis by Attom Data Solutions.

Lumber prices have wavered, but gypsum, steel and transportation were still on the rise in the past month, according to a National Association of Home Builders analysis.

New-home borrowers eyeing things like rising commuting costs could add at-home amenities instead so long as they remain relatively affordable, one take on a National Association of Home Builders report suggests.

But for prospective buyers, soaring home prices in April pushed affordability closer to the all-time low set in June 2006.

The inventory shortage is beginning to ease, while demand is slowing due to high prices and rising mortgage rates.

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

A larger share felt it was a bad time for both buying and selling, but a growing number expect price growth to slow.

U.S. consumers expect mortgage rates to increase substantially over the next several years, with households on average projecting rates of 6.7% a year from now and 8.2% in three years, according to a survey released by the New York Federal Reserve.

While both refinance and purchase customers were banging down the doors in 2021, leading producers are already working much harder as they change up their offerings.

Suburban pushback against a proposal that would have loosened regulations of new units in New York State led to its removal from the state budget.

Out of all investor group types, those with the deepest pockets — property giants with 100 or more homes — tamped down their spending most at the end of last year, CoreLogic reported.

The share of existing properties acquired by single-family rental providers has fallen by 24 percentage points since 2019, while surging BFR numbers made up much of the difference.

While the median income rose 1% over the last year, the median price of a home rose a staggering 25%, according to the the Federal Reserve Bank of Atlanta.

Sales of previously owned homes unexpectedly increased to a one-year high as buyers rushed in ahead of a surge in mortgage rates, further depleting tight inventories to a record low.

Democrats cited the increasing share of home purchases by Wall Street firms while Republicans pointed to rising conforming loan limits and other measures by Fannie Mae and Freddie Mac during the Senate Banking, Housing and Urban Affairs committee hearing.

Compounding factors of low inventory and high costs also helped lead to another decline in Fannie Mae’s Home Purchase Sentiment Index.

An increase in the number of completed homes over the last two months and prospects of higher interest rates this year as the Federal Reserve tightens monetary policy may have encouraged a pickup in contract signings.