Home prices

With new home listings down 25% since last year, bidding wars have become the norm, according to the brokerage.

Measures commonly used may not fully account for regional variations like those seen recently, a working paper by Federal Housing Finance Agency staff finds.

The latest quarterly increase in revenue comes as other reports show home values heading upward and affordability declining.

But the annual rate of change turned negative for the first time in 11 years, according to the Case-Shiller index.

The uptick occurred as conforming rates pulled back for the second week in a row, coming in below the jumbo average according to the Mortgage Bankers Association.

The property was previously shopped as the Romanov Estate in 2021 and marketed at $60 million in 2022 by Icon Global, but it wasn't officially listed.

Volume was lackluster on account of elevated rates and low inventory, Black Knight's report said.

Households saw an average annual decrease of $5,400 earlier this year, but recent price trends point to some of that value returning, according to a new CoreLogic report.

Government-backed activity, though, managed to grow, which helped to shrink purchase-loan sizes to their smallest in over two months, the Mortgage Bankers Association said.

But scarce housing inventory has helped to bring home equity values back upward, offsetting some of the losses of late 2022.

The 30-year average for both conforming and jumbo loans jumped more than 20 basis points, according to the Mortgage Bankers Association.

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

The decrease between February and April came in far smaller than typical seasonal trends, Redfin said.

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

Refinance applications surged by almost 10%, the highest level of activity since September, with federally backed activity jumping by almost 24%.

Homes in the top five states have an average of $222,964 in 2022, according to LendingTree.

The median price slipped 0.2% in February from a year earlier to $363,000, according to the National Association of Realtors.

Homes in the top five states have an average of $512,836 in 2022, according to LendingTree.

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

The average profit margin on the sale of median-priced single-family homes and condos fell to 44% last quarter, from a peak of 56% in the second quarter of 2022, according to data published Thursday by Attom, a real estate analytics firm.