Housing inventory

With new construction activity at the highest level in more than a year, the Federal Reserve Bank of Atlanta's GDPNow tracker is projecting residential investment added 0.1% to growth in gross domestic product in the second quarter.

The city won't allow developers to supply new suburban subdivisions with groundwater, prompting a scramble for alternative water sources and a predicted rise in local housing costs.

Contract closings edged up 0.2% to a 4.3 million annualized pace, according to data released Thursday by the National Association of Realtors.

Applications to build increased, suggesting residential construction is on track to help fuel economic growth.

Alimited supply of existing homes continued to spark interest in new construction, the National Association of Home Builders found.

The number of new listings coming to market in recent weeks fell by over 23% annually, with Western cities seeing the largest rates of decrease, according to Redfin.

Many of the homes being offered for sale are part of a portfolio acquired from Pretium Partners in late 2021, according to people familiar with the matter.

Volume was lackluster on account of elevated rates and low inventory, Black Knight's report said.

With spring selling season typically giving way to a slower summer, investors are focused on whether resilient buyer demand, solid home prices and a potential Fed pause will support further homebuilder outperformance through the end of this year.

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.

The popular notion that any downturn this year will be mild by historical standards as firms seek to "hoard" labor is about to be put to the test.