Housing inventory

The S&P Supercomposite Homedbuilders Index dropped 16% this week as investors grow concerned over a recession and surging mortgage rates.

Prices for new construction dropped in May. In comparison, April construction raised to a 1.81 million rate, the highest since 2006.

These buyers snagged 20% of listings in metropolitan areas tracked by Redfin in the first quarter, the highest share since 2000.

As the market slows down, property owners are awaiting opportunities for discounts from builders.

The hottest U.S. pandemic market fell as mortgage rates rise and buyers fear overpaying in a slowing market.

The commodity's price fell to the lowest it has been since September as interest rates continue to rise.

Those surveyed said they felt more financially secure than they did five years ago, in part due to large gains in home equity.

Sales of new U.S. homes plummeted in April by the most in nearly nine years, dented by the combination of high prices and a steep climb in mortgage rates.

The total number of short-term rentals of entire homes in the city’s five boroughs — those listed on Airbnb Inc. and Expedia Group Inc.’s Vrbo — is more than 13,000, according to third-party data tracker AirDNA. Meanwhile, rental inventory in Manhattan, Brooklyn and a portion of Queens hovers just over 7,500, according to an April report from broker Douglas Elliman Real Estate.

Contract closings decreased 2.4% in April from the prior month to an annualized 5.61 million, figures from the National Association of Realtors showed Thursday.

Residential starts decreased 0.2% last month to a 1.72 million annualized rate after a downwardly revised 1.73 million pace in the prior month, according to government data released Wednesday.

A property management and acquisition platform for single-family landlords is going public through a blank-check merger in a bet that investor appetite for rental houses will outlast waning enthusiasm for real estate technology stocks.

Partners Group Holding AG has agreed to buy more than 2,000 rental houses owned by Fortress Investment Group, according to people with knowledge of the matter.

 In a survey released by Bank of America Thursday, respondents cited expensive home prices (56%), higher interest rates (40%) and uncertainty about affording closing costs (30%) as reasons they might hesitate to buy. 

The National Association of Home Builders asked the White House to take action to address the supply-chain disruptions that are pushing up the costs of materials and labor, in a letter sent Wednesday.

The National Association of Realtors’ index of pending home sales decreased 1.2% from a month earlier to 103.7, the lowest since May 2020, according to data released Wednesday.

The steep ascent in borrowing costs, combined with high home prices across markets, is sidelining more prospective buyers.

Despite lean inventory, efforts by builders to boost production have been hindered by supply-chain challenges, soaring materials costs and difficult hiring conditions.

Purchases completed above the asking price made up 9.3% of all transactions, the highest portion in four years.

A majority of housing experts also believe first-time homeownership should hit 2019 levels again within four years; however, a substantial number don’t expect it this decade.