Housing markets

Since the launch of vacant-loan sales, a majority have come from properties located in 10 states, HUD reported.

Despite signs of inventory returning, prices and loan amounts are trending higher this year, according to data from the Mortgage Bankers Association.

But the pace of home price growth between January and February was nearly double the level seen prior to the pandemic.

Higher costs than expected, not just for the mortgage but for repairs and more, have recent buyers' regretting their purchase, Clever RE and Redfin found in separate reports.

Affordability challenges also have some aspiring homeowners taking second jobs or looking to draw from retirement savings, according to Redfin.

Mortgage payments rose 10% year-over-year to an all-time high for March, Redfin said.

The Midwest was the main driver of the increase in pending sales, with a 10.6% jump, while contract signings in the South edged up 1.1%.

State and local governments borrowed nearly $9 billion for affordable housing so far this year — the most for the period in at least a decade.

But home prices declined from December, both the Federal Housing Finance Agency and S&P CoreLogic Case-Shiller found, a possible precursor to a cooling market.

The 30-year fixed rate mortgage, the movements of which have been volatile in recent weeks, is expected to stay in the range of 6.5% for the first half of the year before trending down, Freddie Mac said.