Housing markets

The U.S. Department of Agriculture program should also allow existing manufactured home sales to be financed, they said.

The cost of properties nationwide rose by 0.6% from July, according to the Federal Housing Finance Agency's monthly index.

The top five cities have an average median residential price per square foot of $654.

The transactions grew between second and third quarter, with the new-home market seeing one of its largest surges in cash-buying in 13 years.

For the first time in about 15 months, more new listings came on the market in August on a year-over-year basis, Redfin said.

The median monthly amount on new purchase applications fell for the first time since early summer, according to the Mortgage Bankers Association.

The National Association of Realtors' index of contract signings increased 1.1% from a month earlier to 72.6, the group reported Thursday.

The nation's biggest real estate franchisor also shed almost $300 million from its over $2.5 billion in company debt.

The market for new homes has broadly held firm in the face of decades-high mortgage rates and elevated housing prices.

The company's builder and mortgage banking segments both ended up in the black, as sales for new constructions outperform the existing-home market.