Housing markets

New single-family home sales decreased 17% last month to a 610,000 annualized rate, according to government data issued Tuesday.

The Department of Justice suggested that new buyer broker agreements resulting from a National Association of Realtors settlement may violate antitrust laws.

While what they get for their money is important, it was not the leading reason why home buyers decided to relocate, the National Association of Realtors said.

"If he manages to get through the policies that he's proposing, that will be really bad news," says Desmond Lachman, an economist at the conservative American Enterprise Institute.

The Austin metro area added the most new homes in 2023, with 37 new housing units authorized per 1,000 existing homes.

The development is the latest in an ongoing series of initiatives the Department of Housing and Urban Development has introduced to encourage growth of the factory-built construction segment.

Fannie Mae's latest economic forecast no longer expects mortgage rates to go below 6% next year, and that is affecting its views on loan origination volume.

Contract closings increased 3.4% from a month earlier — the most since February — to a 3.96 million annualized rate, according to data released Thursday by the National Association of Realtors.

Evergreen Residential has secured $1 billion in capital commitments to support its three business lines, including lending, in investment real estate.

Developers "need those cuts badly" because many projects are financed at floating rates, Jorge Perez, founder and chief executive officer of Related Group, said in an interview on Bloomberg Television.