Housing markets

High mortgage rates and the lack of inventory for sale pushed the sector into a downturn twice recently - between May and November last year and in May of 2023 - according to First American

But that share is trending downward. In the fourth quarter, nearly nine out of 10 metro areas had home prices that were considered to be above sustainable levels.

Nearly 60,000 deals to purchase homes fell through in August, according to a report released Friday by Redfin Corp.

Loan applications for single-family constructions jumped for the seventh month in a row, with increasing interest coming from first-time buyers, according to the Mortgage Bankers Association.

High mortgage rates and little inventory explain why over 60% of homeowners did or will perform a repair project in the next year, a LendingTree survey found.

Affordability is the No. 1 concern of millennials and Gen Zers, and that is also affecting views expressed in Fannie Mae's Home Purchase Sentiment Index.

Despite rate hikes, only 3% fail to profit but local exceptions may continue to increase.

But some of the noise beneath the data suggests a possible transition might be underway, according to analysts.

The National Association of Realtors' index of contract signings to purchase previously owned homes edged up 0.9% to 77.6, the highest in three months, the group reported Wednesday.

But in the Mountain and Pacific regions, values ended the most recent period lower than where they were one year prior.