Housing markets

The changes could help one of the Biden administration’s affordable housing goals, which is aimed at making wealth-building through owner-occupied, 2- to 4-unit properties more attainable.

Residential construction was up 27% year over year in July, according to the U.S. Census Bureau.

Almost $35 million of the total is earmarked for compliance efforts at 93 organizations.

What that means for the industry outlook depends in part on how well the imbalance between supply and demand for homes sustains wavering gains in the housing market.

Roughly $8 billion to $12 billion of the residential losses in the Louisiana area could be insured, according to CoreLogic. The storm’s more recent Northeast impact has not yet been calculated.

Price growth is moderating and properties are taking longer to sell — albeit by a modest three days.

The extension in the number of days investors are locked out of the process comes amid a broader push by the Biden administration to boost access to affordable housing.

Meanwhile, property values across the U.S. have increased for 40 quarters in a row, according to the Federal Housing Finance Agency.

The S&P CoreLogic Case-Shiller index of property values nationwide surged 18.6% in June from a year earlier, according to a statement on Tuesday.

None of the leading areas ranked by investor share of sales were in the Golden State during 2020, in contrast to the state’s dominance on the list in the wake of the Great Recession.

However, with mortgage rates down and household income increasing, consumers have 129% more buying power today than they did 16 years ago, according to First American.

U.S. pending home sales unexpectedly declined for a second straight month in July as limited inventory and soaring prices deterred some prospective buyers.

Local mortgage lenders give their boots-on-the-ground perspectives about the ZIP codes with 2021’s shortest list-to-sale times, according to Realtor.com.

Purchases of new single-family homes increased 1% to a 708,000 annualized pace following an upwardly revised 701,000 in June, government data showed Tuesday.

Record high price growth and the dearth of housing inventory left the majority of consumers anxious about the market, a survey finds.

However, the pace of growth at the six active underwriters should moderate over the next two years, Keefe, Bruyette & Woods said.

Contract closings increased 2% from the prior month to an annualized 5.99 million, a four-month high, according to figures from the National Association of Realtors on Monday.

Congress included funding for such assistance in its infrastructure bill.

Measuring factors from affordability to quality of life, local lenders give insights to the top metro areas for new buyers, according to WalletHub.

Refinancing, high home prices, the concentration of pandemic-related hardships in the FHA market, and the lingering impact of last year’s market disruption all likely played a role in the intensified discrepancy.