Housing markets

Historic data suggests that first time home buyers may want to wait out current market conditions, a new report states.

While home prices hit another record high, the supply of for-sale properties improved, according to Realtor.com.

U.S. pending home sales unexpectedly rose in May by the most in nearly a year as low borrowing costs paired with increased listings bolstered demand.

Though their rate of ownership lags behind preceding generations, millennial interest in purchasing property grew the most of any demographic last year, according to First American.

Under the agreement with New York Department of Financial Services, the company will promote the purchase of homes in historically disadvantaged communities in the northern part of the state.

Nationally, the S&P CoreLogic Case-Shiller index of property values climbed 14.6% from a year earlier, the biggest gain in data going back to 1988.

Premiums written increased 45%, while net operating income was up over 65%, the American Land Title Association said.

While purchasing power grew for the 16th straight month in April, surging property values and increased mortgage rate forecasts will keep driving down affordability, according to First American.

The lack of homes for sale is supporting the record values, unlike what happened in the mid-2000s, analysts say.

Median home prices are higher than the historical average in 61% of U.S. counties, Attom Data Solutions said, and it's unclear if the situation gets better or worse.

For all respondents, cash edged financing by one percentage point, but half of those that bought last year used cash, ServiceLink found.

Shipping bottlenecks and higher input prices have held back homebuilding, contributing to skyrocketing prices for the limited supply of homes available.

While purchasing power rose due to low rates and increasing income, “homebodies” suppressed inventory, according to First American.

Contract closings decreased 0.9% from the prior month to an annualized 5.8 million, according to data out Tuesday from the National Association of Realtors.

As home prices set new records, a shift in consumer attitude led to fewer bidding wars and a growing number of listings, according to Zillow and Redfin.

Residential starts rose 3.6% last month to a 1.57 million annualized rate, according to government data released Wednesday

The real estate technology company had a $498 million valuation, according to PitchBook, but it could get a sizable premium to that if it were to go public.

Changed borrower psychology and the severe housing inventory shortage dropped lending activity across the board, according to Black Knight.

There’s now a unique, additional source of demand that’s opening up in an already fiercely-competitive housing market that VA lenders have to solve for.

Tighter mortgage rules could also be weighing on second-home buyers given that loans for such purchases, along with those for investment properties, can only make up 7% of a lender’s total pipeline