Housing inventory

Average monthly payments fell by 0.6% year-over-year to $1,995, marking the largest annual decline since March 2020.

But more potential owner-occupants are entering this market as a result of tight housing market conditions, Auction.com found.

U.S. pending home sales stagnated in April as high mortgage rates paired with limited inventory continued to curb buyer demand.

Purchases of new single-family homes increased 4.1% to an annualized 683,000 pace last month from a downwardly revised 656,000 rate in March, government data showed Tuesday.

Contract closings decreased 3.4% last month to an annualized pace of 4.28 million, according to data released Thursday by the National Association of Realtors.

After dropping to a low of more than 40% last year, the recent rally in homebuilders represents a massive rebound from last June's slump and a testament to what appears to be a gradual recovery in home construction. 

Beginning home construction rose 2.2% to a 1.4 million annualized rate, according to government data released Wednesday.

The share of job seekers who relocated to take up a new position fell to 1.6%, the lowest level on record, in the first quarter of 2023, according to a quarterly survey that's been carried out by executive coaching firm Challenger, Gray & Christmas, Inc. for decades.

The National Association of Home Builders/Wells Fargo gauge jumped five points to 50, extending a streak of increases to five months, figures showed Tuesday.

The median price slipped 0.2% in February from a year earlier to $363,000, according to the National Association of Realtors.