Home prices

The total value of U.S. housing rose more than $2.6 trillion in the past year, Zillow said, defying predictions that higher borrowing costs would lead to a prolonged slump.

Housing costs grew to an average of $2,632 during the four weeks ending Sept. 10, according to a Redfin report.

But that share is trending downward. In the fourth quarter, nearly nine out of 10 metro areas had home prices that were considered to be above sustainable levels.

Despite rate hikes, only 3% fail to profit but local exceptions may continue to increase.

But some of the noise beneath the data suggests a possible transition might be underway, according to analysts.

But in the Mountain and Pacific regions, values ended the most recent period lower than where they were one year prior.

Sen. Robert Peters, D-South Shore and Rep. Debbie Meyers-Martin, D-Matteson will spearhead the endeavor.

Houses in the northeast and midwest got more expensive. In the South and the west, prices dwindled, according to the organization's Metropolitan Median Area Prices and Affordability report.

A shortage of listings has pushed up prices, boosting the total value of US homes to a record $47 trillion, Redfin reported. 

Active listings fell in July on an annual basis, while median home prices also showed signs of a downward trend, according to new data from Realtor.com.