Housing markets

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.

The month saw the highest median home sales price ever along with the quickest time ever to sell a new listing.

Economic recovery should soar into the summer as vaccination rates climb and restrictions loosen up, but low inventory is likely to limit mortgage activity into the next year, according to Fannie Mae.

U.S. housing starts fell by more than forecast in April, suggesting that supply-chain constraints and rising materials costs continue to hold builders back.

Mortgage activity fell across the board despite analysis that 14.5 million current qualified borrowers would benefit from a refinance, according to Black Knight.

Homebuyer competition reached new heights right as the purchase market hits its busiest time of year, according to Redfin.

The company is formally launching a new “non-mortgage” unit that will provide small loans for home improvement projects.