Housing markets

Half of the underlying support for the token in the investment property sale of a Honolulu condominium will be backed by the borrower's cryptocurrency.

Contract closings of existing homes last month increased 2.2% to an annualized rate of 4.24 million, the most since February, according to National Association of Realtors data released Friday.

Higher mortgage rates will persist through 2026, affecting sales and refinancings. Those expectations led Fannie Mae to cut its volume outlook for the next two years.

Broward County in Florida has the highest property tax increase since 2019, at 56.80%.

Mortgage companies are looking for ways to open up credit to more borrowers, but insurance-cost spikes have made a difficult situation more challenging.

Mortgage applications for newly constructed homes continued to increase on a year-over-year basis, as existing home listings remain constrained.

A gauge of the outlook for home purchases over the next six months dropped 6 points to 60, the first decline since June, according to the NAHB and Wells Fargo.

Single-family starts, which account for most new construction, climbed 3.3% to a 1.05 million annualized rate, also the strongest since February 2024.

Los Angeles already had a housing affordability crisis before devastating wildfires burned entire neighborhoods to the ground. The disaster is making it worse. 

San Jose, California, is the most expensive city with a median home price of $1,528,500, while Detroit is the least, with a median home price of $192,000.