Housing markets

Recent reports show inflation rising, but employment underperforming, while interest rates dropped across the board.

The continued home price spike also drove the negative equity share to an all-time low, according to CoreLogic.

Rising sea levels aren’t keeping buyers from scooping up oceanfront homes as work flexibility gives consumers wider options on where to live, according to Redfin.

While a growing share of consumers feel optimistic about the economic recovery underway, the extreme seller’s market made the majority of prospective borrowers pessimistic for only the second time in 10 years, according to Fannie Mae.

Home prices grew at a record annual pace in April but indicators of a possible slowdown popped up in May, Redfin noted.

After almost a year and a half of intense demand for houses, the real estate market in South Florida shows no signs of easing up.

Rates have seesawed in recent weeks, with investors looking for signs of inflation as the economy recovers from the pandemic.

The program, announced last October, looks to provide services to minority-owned banks and credit unions so they can increase homeownership rates in their communities.

Storm-related reconstruction costs — a large share of which may be concentrated in the New York City area — are estimated to total $1.9 trillion for water damage and $8.5 trillion for wind damage.

Housing value growth in April hit a 15-year high as the inventory squeeze created gridlock between baby boomer sellers and millennial buyers, according to CoreLogic.

Nonprofits connecting Historically Black Colleges and Universities to mortgage career education courses seek to increase the number of Black professionals in the field, who in turn may help to increase homeownership among underserved populations.

Purchase contracts for the three months through April surged 85% from a year earlier to 3,487, the builder said in a statement after the close of trading Tuesday.

While elevated prices are acting as brake on demand, mortgage rates near historic lows and elevated backlogs suggest steady residential construction gains in coming months that will help contribute to economic growth.

Nationally, the S&P CoreLogic Case-Shiller index of property values climbed 13.2% in March, the biggest gain since December 2005. That came after a jump of 12% in February.

Unlike fix-and-flip investors, who take title to homes, renovate them and put them back on the market, wholesalers typically negotiate with homeowners just to put homes under contract and sell those contracts to flippers.

While last year’s high valuations protected the wealth embedded in consumer residences, a new report suggests that they can also be an indication of rising risk.

Contract closings decreased 2.7% from the prior month to an annualized 5.85 million, the slowest pace since June, according to Friday data from the National Association of Realtors.

Companies are facing delays for everything from sheet rock to cabinets and kitchen appliances and as a result, homes are taking about a month longer to build.

Estimated activity exceeded projections as consumer purchasing power rose, although inventory continued at a record nadir and otherwise held back potential home sales, according to First American.

Remote workers looking across the country for an inexpensive house have a wide net to cast, but a few important socioeconomic factors can narrow the search.