Housing markets

The bottom five cities in the ranking have an average total score of 30.48.

The lucrative broker commission system at the heart of the residential housing market is facing unprecedented antitrust scrutiny from the Justice Department and two private class-action lawsuits that risk weakening the National Association of Realtors, the industry's powerful lobbying group.

Expected income earned through rental of the units will be considered in underwriting for FHA-backed mortgages and rehabilitation loans.

Federal Reserve Bank of Philadelphia President Patrick Harker said higher interest rates are making it more challenging for first-time home buyers by raising borrowing costs and limiting inventory, which is also leading to higher home prices

The top five cities in the ranking have an average total score of 64.5 out of 100.

But even as housing costs slowed on a quarterly basis, they still came in 5.3% higher than a year ago, according to Fannie Mae's Home Price Index.

Removing the requirement for the seller to pay the buyer's broker will make financing more difficult to get for certain groups.

Homeowners have over $29.3 trillion in combined home equity, yet accessing it is becoming less attractive, Point's report said.

Most consumers see their experience in the housing market giving them more pressure than life events like dating or potty training.

The share of residential property buyers that put themselves in the most optimistic category jumped notably in the latest edition of an RCN survey.

After 139 consecutive months of rising values, a change in the pattern could slowly emerge.

The rise in the number of reductions runs against typical seasonal norms, Redfin said.

Policymakers should instead focus on how different components of core inflation are decelerating — with cooling still needed especially in housing inflation.

Public policy experts debated the effect of rising rates on the mortgage market, the impact on homebuyers and ways that Fannie Mae and Freddie Mac could exit conservatorship at the National Mortgage News Digital Mortgage Conference.

Even as Freddie Mac's survey put rates at their highest since December 2000, factors like rising oil prices and a government shutdown could slow the economy.

The month-to-month decline was larger than all estimates received by Bloomberg in a survey of economists.

The rise in rates — 10-year Treasury yields are up over a percentage point since mid-May — is one of a series of shocks buffeting what's been a surprisingly resilient economy.

Since the start of the year, values have pushed upward at a marked pace, separate reports from the Federal Housing Finance Agency and S&P CoreLogic Case-Shiller declared.

The total value of U.S. housing rose more than $2.6 trillion in the past year, Zillow said, defying predictions that higher borrowing costs would lead to a prolonged slump.

The triple threat of tight supply, elevated prices and historically high mortgage rates continues to weigh on sales, even as home builders are offering incentives to potential buyers.