Housing markets

New-home borrowers eyeing things like rising commuting costs could add at-home amenities instead so long as they remain relatively affordable, one take on a National Association of Home Builders report suggests.

At the same time, the share of new properties acquired by the services dropped, reflecting overall purchase trends and Zillow’s exit from the market.

As the market slows down, property owners are awaiting opportunities for discounts from builders.

Seven towns had home values worth $150K more than properties within nearby cities.

But it's far too early to declare the market to be down and out, especially as employment stays strong and mortgage rates stabilize.

The hottest U.S. pandemic market fell as mortgage rates rise and buyers fear overpaying in a slowing market.

The commodity's price fell to the lowest it has been since September as interest rates continue to rise.

Hybrid work has led to an increase in purchasing a second home in more scenic, family-friendly areas in addition to smaller, closer homes by the office.

Lenders reduced refinance and jumbo programs on their product menus as interest rates continued to rise in May, the Mortgage Bankers Association said.

Recent data from several organizations further highlights affordability challenges and souring consumer sentiment, while a growing number of economists think the market has peaked.

But for prospective buyers, soaring home prices in April pushed affordability closer to the all-time low set in June 2006.

While the appeal of homeownership and larger spaces led property values in many fire-prone regions to surge to new records, those areas are also seeing more frequent price drops, Redfin says.

Risky loan applications had been on the rise for more than a year, according to the analytics firm CoreLogic. Now that activity is slowing down, lenders face a higher risk of fraud, and many could be ill-equipped to handle it.

The inventory shortage is beginning to ease, while demand is slowing due to high prices and rising mortgage rates.

The largest increases in new listings were in the West and the South, in cities including Austin, Texas, and Phoenix, Arizona.

In May, buyers in 15 of the 100 largest housing markets paid more than 50% over historic trends, up from 13 in April and 2 in July 2021, a study found.

The S&P CoreLogic Case-Shiller index recorded its strongest ever annual gain for March as housing market conditions remained highly competitive in the first quarter.

Several Sun Belt cities popular for relocation over the last two years were among markets with the most reduced listing prices in April.

The number dropped 3.9% from a month earlier to 99.3, according to data released Thursday.