Housing markets

Much has been said about how millennials and Gen X have a higher homeownership rate now, but how these generations compare at age 24 is a different story.

But the index is still well below pre-pandemic levels, suggesting momentum may be slow to build with borrowing costs still twice as high as they were two years ago.

The index of mortgage applications to buy a home increased 9.2% in the week ended Jan. 12 to 162.2, the highest since July 14, according to the Mortgage Bankers Association.

Properties in the top three ZIP codes are seen by an average of 4.5 times more unique viewers than the typical property in the U.S. and spend an average of 16.3 days on the market.

Home buyers appear to place the highest priority on affordability, with cities in the Midwest and Northeast taking the majority of top spots on Zillow's list.

The consumer price index increased 3.4% in the year through December, the most in three months, led by increases in shelter costs.

Overall, U.S. home prices increased 5.4% in the year ending in November, CoreLogic's latest Home Price Index report found.

Analysis conducted by the Federal Housing Finance Agency found values coming in under contract price as often as 15% of the time in recent years, with appraisers failing to account for quickly changing market conditions.

While several communities offer monetary incentives to attract new residents, some are making overtures with down payment and other types of assistance aimed at building up their local housing markets.

Tracy Kasper's departure follows the November exit of former CEO Bob Goldberg.