Purchase

Mortgage applications decreased 2.6% from one week earlier, as tighter underwriting drove the refinance index to its lowest level since March, according to the Mortgage Bankers Association.

The Mortgage Bankers Association's forecast anticipates tremendous coronavirus stimulus-related debt coming on to the market.

Illustrating the chilling effects the coronavirus crisis has had on the housing market, Southern California home sales fell 26.6% in April compared with a month earlier, while year-over-year sales were down 31.5%.

Other safety measures taken to protect settlement agents and consumers include drive-up closings and overnight mail.

The coronavirus pandemic took a toll on the Baton Rouge, La., area housing market in April, with sales dropping 12.6% compared to last year, but prices are holding up.

Ohio's homeownership rate rose in the first quarter of this year to the highest level since 2011, suggesting a robust housing market and growing economic stability.

With the coronavirus impact in full effect, a four-month streak of growth ended in April, according to Remax.

Pent-up demand is already pushing buyers to a gradual return to the market, the report asserts.

Homebuilder sentiment rose in May by more than forecast following a record slump a month earlier as a pickup in sales and demand expectations pointed to stabilization in the real estate market.

San Antonio's housing market is slowing down amid the coronavirus pandemic, but prices are still rising.