Housing inventory

Pending sales of previously owned US homes last month fell by the most since September 2022, illustrating a disappointing spring selling season as prospective buyers balk at high asking prices and borrowing costs. 

The run-up in prices since the pandemic, and mortgage rates hovering near 7%, have squeezed affordability for house hunters, pushing many to the sidelines.

Housing starts increased in April as a pickup in multifamily home construction more than offset a decline in single-family dwellings caused by elevated inventory.

A growing supply of unsold inventory applied downward pressure on prices, offering home buyers some relief, the Mortgage Bankers Association said.

The builder reported increased revenue from a year ago, with profits near par, as it sets to absorb new acquisitions across different lines of business.

As the lock-in effect deters many current homeowners from buying, the housing market is seeing younger clients stepping in, often with government-backed loans.

Pending sales of previously owned US homes rose in March by the most in more than a year as a brief dip in mortgage rates and a rising supply of houses brought out spring shoppers.

The real estate industry is at the forefront of a lobbying blitz to sway Congress to preserve the carried interest tax break that President Donald Trump wants to abolish in a giant tax bill pending in Congress.

Sales of previously owned US homes fell in March by the most since 2022 as buyers remained constrained by high mortgage rates and prices.

Homebuilding industry CEOs said tariff impacts would likely be felt in the back half of the year, but affordability concerns are applying pressure now.