Home 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.

Property prices could contract an annual 5% by the middle of next year, a senior property economist, said in a research note Monday. He’d previously projected no change in values by that time.

But even with bidding wars on the decline and inventory increasing, listing prices continue to creep up.

At the same time, the share of new properties acquired by the services dropped, reflecting overall purchase trends and Zillow’s exit from the market.

But it's far too early to declare the market to be down and out, especially as employment stays strong and mortgage rates stabilize.

In May, buyers in 15 of the 100 largest housing markets paid more than 50% over historic trends, up from 13 in April and 2 in July 2021, a study found.

The S&P CoreLogic Case-Shiller index recorded its strongest ever annual gain for March as housing market conditions remained highly competitive in the first quarter.

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

Mortgage payments are claiming a bigger chunk of incomes for U.S. homebuyers, who also have to contend with quickly rising prices.