Housing markets

KKR & Co. is acquiring a lending platform that caters to home-flippers, giving the investing giant an opportunity to eventually invest $1 billion a year in small real estate loans.

New U.S. home construction unexpectedly strengthened in December to the fastest pace in nine months, led by apartment projects and suggesting builders found some success navigating shortages of materials and labor.

While the normal holiday season pattern contributed to the December drop-off, potential buyers also need to make offers on multiple properties before winning a home, Redfin said.

The former president said in a statement that he plans to apply to create 2,300 luxury homes as well as retail and commercial space in the first phase of construction at Trump National Doral.

The metric shows how drastically supply-chain disruptions have impacted prices for a key material used in single-family homebuilding.

Average prices were up 15% compared to the same month in 2020.

Chief Operating and Growth Officer Pat Dodd becomes interim president and CEO following Frank Martell’s move to non-executive chairman of the company’s board.

But the online real estate company is eliminating nearly half of the positions in its existing mortgage business as a result of the deal.

Housing market participants are evenly split on whether rising prices will keep buyers out of the market or draw more sellers in, Zillow said.

Deals by investors — including a smaller portion of flippers — helped push up prices more than 20% on average, squeezing out normal buyers, according to an analysis by Mark Zandi, chief economist for Moody’s Analytics.

Nearly half of likely buyers said they feel more urgency to act if the 30-year FRM reached 3.5%, a Redfin survey found.

The tech industry’s attempts to simplify the process of selling a house depend on flipping properties to some of the biggest names in global finance.

For the past five months, single-family house prices were up by at least 18% compared to monthly averages in 2020, but by next November, increases should sink below 3%, CoreLogic said.

A chaparral-covered patch of land in southwest Riverside County could soon become a testing ground for a new housing concept.

But low mortgage rates and higher wages are allowing borrowers to meet conforming loan underwriting terms — at least for now.

About 40% of likely purchasers are delaying or cancelling their activity, a Redfin survey found.

The National Association of Realtors’ index of pending home sales decreased 2.2% from a month earlier to 122.4, according to data released Wednesday.

A measure of home prices in 20 U.S. cities jumped 18.4%, down from 19.1% in September, the S&P CoreLogic Case-Shiller index showed Tuesday.

The days of sub-3 percent mortgage rates will end next year as the Federal Reserve tries to combat inflation, making it more expensive to buy a home but only slightly cooling Maine's hot real estate market, experts say.

In October, those factors outweighed a smaller rise in annual wage growth, and the gap will keep widening, according to a new First American Real House Price Index report.