Housing markets

A summer resurgence of home buying stretched into August, defying the pandemic to set record home prices and drive sales to a near two-year high, new housing figures show.

The agency reported signs of stress on the credit quality in residential loans serviced by seven large banks as a result of the COVID-19 pandemic.

Chattanooga, Tenn., home sales continued last month to rebound from the coronavirus-spurred slump in the spring, boosting the median price of homes sold during August to an all-time high.

Sales of new homes climbed in Houston and other large Texas markets in August, with September shaping up to be another strong month for sales for the homebuilding industry.

But the group is more conservative than Fannie Mae when it comes to interest rate movements over the next six quarters.

Outside the densely populated coastal hubs, annual home sales grew by leaps and bounds, as buying patterns shifted toward more space with less emphasis on proximity to urban centers, according to Redfin.

Sales of previously owned homes remained brisk in August as low mortgage rates and demand for space in the suburbs sustained strength in a housing market that’s a bright spot for the economy.

The number of pending sales in Sonoma County, Calif., was up 27% from June through August 2020 versus the same period in 2019 and the percentage of properties that went off the market within two weeks was up 8% in the same period in 2020 versus 2019.

The song remains the same: There still aren't enough houses to keep up with all the people trying to buy them in Missoula, Mont., so that means prices keep shooting up.

Westcor has been gaining market share, growing to 5.9% of premiums written in 2Q 2020, versus 3.4% in the first quarter of 2019.

More defaults will lead to an increase in distressed sales, and that will drive down prices, CoreLogic said.

A boom in the U.K. housing market gathered pace this month as Britons' pandemic-driven desire for more living space and a tax break on purchases pushed asking prices up by the most in four years.

Canadian new home prices recorded their sharpest one-month gain in three years with higher demand and rising costs for building materials.

August was a blockbuster month for home sellers across the 16-county metro, despite the global pandemic and a coming presidential election, which typically puts buyers on edge.

Marin County, Calif., home sales jumped by 46% in August over the prior year, marking the third straight month of gains after the rocky pandemic spring.

The vibe is pre-COVID San Francisco: Airpods, electric scooters, coffee-shop coworking and cash offers for million-dollar homes.

As the summer home-selling season came to a close, median sale prices — both across Central Texas and within the Austin city limits — reached all-time highs in August, the Austin Board of Realtors said.

A combination of pent-up demand, low inventory and rock bottom interest rates is making it extra tough for homebuyers with government-backed loans.

Home starts fell more than forecast in August, reflecting less construction of apartments and a decline in the tropical storm-hit South, representing a pause in momentum for a housing market that's been a key source of fuel for the economy.

The median sales price for a single-family house in Rhode Island hit an all-time high of $333,164 in August, according to the Rhode Island Association of Realtors.