Housing inventory

Purchases of new single-family homes decreased 5.6% to a 679,000 annualized pace last month, government data showed Monday.

Contract closings decreased 4.1% from a month earlier to a 3.79 million annualized pace, still the lowest since 2010, National Association of Realtors data showed Tuesday.

Residential starts increased 1.9% last month to a 1.37 million annualized rate, the highest in three months, government data showed Friday.

With mortgage rates retreating and inflation abating, short sellers who'd been capitalizing on the three-month slump in homebuilder stocks may need to prepare for a rebound toward year-to-date highs.

The National Association of Home Builders/Wells Fargo gauge decreased six points to 34 this month, according to data out Thursday.

Median housing costs came in higher in every region of the country, but several cities that saw the most growth two years ago continue to see declining values, the National Association of Realtors said.

Bigger metro areas Austin, Phoenix and Atlanta each added at least 16,000 units over the past year, increasing their inventories by as much as 5.6%. Rents consequently fell in each market.

Voters in one of the U.S. most expensive markets are poised to approve a ballot measure tripling the supplemental property tax that funds programs to support affordable housing.

The U.S. Department of Agriculture program should also allow existing manufactured home sales to be financed, they said.

For the first time in about 15 months, more new listings came on the market in August on a year-over-year basis, Redfin said.