Housing markets

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.

In spite of an improving economy, acute competition and supply scarcity soured homeshoppers on the purchase market in April, according to Fannie Mae.

Scrolling Zillow has become a go-to activity for Americans stuck at home pondering real estate upgrades as low interest rates and a shortage of homes to buy fuel the pandemic housing market.

Residential value growth in March reached heights not seen since the lead up to the housing bubble, according to CoreLogic.

As consumers search for homebuying advantages, local lenders discuss the 12 metro areas where it’s more affordable to purchase a property rather than rent a comparable house, according to Realtor.com data.

Mom-and-pop residential real estate investors are seeing more competition from citizens looking to buy homes than from their traditional competitors, large public institutional investors, according to a new survey from real estate data firm RealtyTrac.

“Low inventory has been a consistent problem,” Lawrence Yun, chief economist at the NAR, said in a statement. “With mortgage rates still very close to record lows and a solid job recovery underway, demand will likely remain high.”