Home prices

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.

They rose 2% from a year earlier in February, slower than the 3.7% increase in January, according to data from S&P CoreLogic Case-Shiller. 

Contract closings decreased 2.4% last month to an annualized pace of 4.44 million after an outsize jump in February, according to data released Thursday by the National Association of Realtors.

Home loan applications dropped for the second time in three weeks, with the 30-year conforming interest rate ticking up 13 basis points, according to data from the Mortgage Bankers Association.

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.

A February survey of 2,000 people who were looking to sell their home in the next 12 months, found that 86% were planning to buy another home, but of those respondents, 56% are waiting for rates to come down.

Average purchase-loan amounts on new applications also increased after a recent pullback, as limited inventory provided little price relief.

But a monthly increase in housing costs nationwide to start 2023 may point to a bottoming out of prices in many areas, CoreLogic said.

Almost twice as many homes on sale in February saw a reduction in housing costs compared to a year ago, as elevated interest rates limit how much buyers can afford.

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

The pace of supply coming to market continued its late 2022 slowdown in the first two months of the new year, but greater opportunities may lie in sales of newly constructed properties.