Home prices

Contract closings decreased 5.4% from May to a 3.89 million annualized rate, data released Tuesday from the National Association of Realtors show.

Rising inflation has been an issue across the country, but these are the cities with the greatest challenges.

More than 50% of aspiring buyers expect their next purchase will cost less than the latest median value, according to the National Association of Home Builders.

A gauge of contract signings from the National Association of Realtors decreased 2.1% to 70.8 last month, the lowest reading in data going back to 2001, the group said Thursday.

The pace of growth is more than double the recent historical average, adding further affordability hurdles for some homeowners.

The sales pace is now at the low end of the range seen over the past year, suggesting limited momentum amid a lack of affordability.

A national measure of prices rose 6.3% from a year earlier, less than the 6.5% gain in March, according to data from S&P CoreLogic Case-Shiller.

Sales of existing homes in the U.S. fell for a third straight month in May while prices set another record, underscoring persistent affordability challenges that hobbled the important spring selling season.

While not-in-my-backyard activists have long fought new developments, local officials and business groups across the South say they've seen a heightened level of anger since the pandemic-era growth.

Home inventory on the market increased in May, but stubbornly high mortgage rates and home prices are leading to slow sales in many areas, according to reports from Redfin and Zillow.