Housing inventory

New-home sales in the U.S. bounced back to the highest level since May 2023 as buyers took advantage of lower mortgage rates and more listings to choose from.

"Despite the modest gain, home sales are still sluggish," said NAR Chief Economist Lawrence Yun in a prepared statement. "But consumers are definitely seeing more choices, and affordability is improving due to lower interest rates."

A sizable decline in the South may have reflected the impact of Hurricane Beryl.

Confidence among U.S. home builders slipped for the fourth straight month to its lowest point of the year in August as high loan rates and home prices weigh on companies and buyers alike.

Zillow said the share of listings on its platform that offered concessions topped 33% last month, up from 25% a year earlier. 

Sales of new U.S. homes unexpectedly declined for a second month in June as the mix of stubbornly high mortgage rates and prices deterred prospective buyers. 

Institutional investors have an opportunity to "do well while doing good" while advancing a flagship public/private partnership model writes the Chief Growth Officer of Rocktop.

Contract closings decreased 5.4% from May to a 3.89 million annualized rate, data released Tuesday from the National Association of Realtors show.

Total housing starts increased 3% to a 1.35 million annualized rate last month, driven by a 19.6% surge in multifamily construction, according to government data released Wednesday.

Confidence among U.S. homebuilders fell for a third straight month in July as elevated interest rates weighed on sales and kept construction financing costs high.