Home prices

The dynamic between housing market players diverged to an even greater degree amid intense demand and surging home prices, according to Fannie Mae.

While home prices hit another record high, the supply of for-sale properties improved, according to Realtor.com.

U.S. pending home sales unexpectedly rose in May by the most in nearly a year as low borrowing costs paired with increased listings bolstered demand.

Nationally, the S&P CoreLogic Case-Shiller index of property values climbed 14.6% from a year earlier, the biggest gain in data going back to 1988.

While purchasing power grew for the 16th straight month in April, surging property values and increased mortgage rate forecasts will keep driving down affordability, according to First American.

The lack of homes for sale is supporting the record values, unlike what happened in the mid-2000s, analysts say.

Median home prices are higher than the historical average in 61% of U.S. counties, Attom Data Solutions said, and it's unclear if the situation gets better or worse.

Shipping bottlenecks and higher input prices have held back homebuilding, contributing to skyrocketing prices for the limited supply of homes available.

As home prices set new records, a shift in consumer attitude led to fewer bidding wars and a growing number of listings, according to Zillow and Redfin.

Recent reports show inflation rising, but employment underperforming, while interest rates dropped across the board.