Housing markets

New home construction in the US slumped in May to the slowest pace in four years, as higher-for-longer interest rates sap the housing industry's momentum from earlier this year.

U.S. homebuilder sentiment unexpectedly declined in June to the lowest level this year as mortgage rates near 7% limited prospective-buyer interest and weighed on the demand outlook.

Activity grew at a slower pace from seven days earlier, as refinance volume retreated, according to the Mortgage Bankers Association.

Lown will be joining CoStar on July 1, three days after he leaves the same job at Freddie Mac.

While not-in-my-backyard activists have long fought new developments, local officials and business groups across the South say they've seen a heightened level of anger since the pandemic-era growth.

A decline in interest rates during the first quarter drove a Freddie Mac indicator higher for the first time since mid-2023, while a leading investment firm announced a deal aimed at boosting originations for government-sponsored enterprise financing.

Home inventory on the market increased in May, but stubbornly high mortgage rates and home prices are leading to slow sales in many areas, according to reports from Redfin and Zillow.

The 22,385 homes entering the process last month was a 3% monthly increase but a 4% annual decline.

Homeowners responded to moderating interest rates and brought in significantly more refinance volume, with Department of Veterans Affairs numbers more than doubling from the prior week.

Amid industry challenges, borrow a page from the playbooks of these industry leaders as they strategize around new roadblocks and look for fresh opportunities.