Home prices

The decline was "widespread" impacting eight of the nine U.S. census divisions, according to the Federal Housing Finance Agency.

The shift to working from home drove more than half of the increase in house and rent prices during the pandemic and will likely drive up costs and inflation going forward as the shift becomes permanent, according to research from the Federal Reserve Bank of San Francisco. 

August's 0.3% drop in prices from July was the largest in 11 years, according to the raw Zillow Home Value Index.

Of the 50 counties most at risk, nine are in and around the Big Apple, six are in the Windy City's metropolitan area, and 13 are spread through California.

Also, the percentage of loan-to-value ratios in all buckets above 50% shrunk between the first and second quarter, according to a new CoreLogic report on homeowner equity.

Home values dropped for the first time in 31 months between June and July but this is obscured by 14.5% year-over-year appreciation.

Housing's unusually high appreciation rates have now slowed for three months straight, and the number of metropolitan areas that are considered overvalued keeps growing, according to CoreLogic.

Although housing costs are still far higher than levels from a year ago, monthly data showed prices declined across five U.S. regions in June, and a separate survey indicated almost one-third of sellers had recently slashed prices.

A national measure of prices rose 18% year-over-year, smaller than the 19.9% climb in May, the S&P CoreLogic Case-Shiller index showed Tuesday.

The slowdown also has not been enough to ease affordability in any state given changes in interest rates and incomes, according to research from First American.

In actuality, the law establishes the procedure for setting the maximum limits; in principle, the director could set the limits below these maximum levels, argues a former principal economist for the Federal Housing Finance Agency.

The city remains one of the most unaffordable and as tech companies continue to work remotely, there is little appetite to pay millions to live in the area.

July marked the first month this occurred, suggesting that the small reversal in the upward trend of financing costs wasn't enough to change the downward trajectory in homebuyer activity.

The market has shown signs of cooling down as sellers slash prices and homes linger longer.

By leveraging establishing relationships and engaging stakeholders, mortgage companies can play a part in alleviating the home availability and affordability strain, writes the president and CEO of the Federal Home Loan Bank of San Francisco.

Prices are starting to fall in one of the most expensive cities in the U.S. but they are still much higher than their pre-pandemic levels.

Even with another annual surge of over 20%, the pace of home-price growth eased in May and experts anticipate even further moderation over the next year.

While those born between 1946 and 1964 have largely chosen to age in place, their eventual home downsizing or passing is not likely to result in a large burst of inventory entering the market, according to a report from the MBA's Research Institute for Housing America.

High mortgage rates and high prices are starting to slow down the market. Still, tight inventory is keeping values high.

Contract closings decreased 3.4% in May from the prior month to an annualized 5.41 million, the weakest since June 2020, figures from the National Association of Realtors showed Tuesday.