Housing markets

The consumer price index increased 3.4% in the year through December, the most in three months, led by increases in shelter costs.

Overall, U.S. home prices increased 5.4% in the year ending in November, CoreLogic's latest Home Price Index report found.

Analysis conducted by the Federal Housing Finance Agency found values coming in under contract price as often as 15% of the time in recent years, with appraisers failing to account for quickly changing market conditions.

While several communities offer monetary incentives to attract new residents, some are making overtures with down payment and other types of assistance aimed at building up their local housing markets.

Tracy Kasper's departure follows the November exit of former CEO Bob Goldberg.

Manhattan home prices rose for the first time in more than a year, as surging high-end sales propelled the market and lower mortgage rates set the stage for a broader recovery in 2024.

The segment demonstrated sustained resilience in the third quarter, growing its share of the market each month amid rate volatility, according to Corelogic.

The share of relocators was 23.9% in November, the first annual decline recorded by the brokerage but still well above the 19% pre-pandemic rate.

Borrowers can shell out nearly $300 less per month to purchase a median-priced home compared to late October when rates peaked near 7.8%, according to new data.

The National Association of Realtors' index of contract signings to purchase previously owned homes was unchanged at 71.6, the lowest in data back to 2001.