Housing markets

Between 2020 and 2022, both companies benefited from locked-down consumers that took on renovations.

Median housing costs came in higher in every region of the country, but several cities that saw the most growth two years ago continue to see declining values, the National Association of Realtors said.

Sun Belt cities saw the greatest annual decline in transactions over the third quarter, with Atlanta's number down to half of its level at the same time in 2022, Redfin said.

Bigger metro areas Austin, Phoenix and Atlanta each added at least 16,000 units over the past year, increasing their inventories by as much as 5.6%. Rents consequently fell in each market.

Voters in one of the U.S. most expensive markets are poised to approve a ballot measure tripling the supplemental property tax that funds programs to support affordable housing.

The top five cities have an average median residential price per square foot of $148.

Direct-to-consumer lenders and iBuyers could be beneficiaries of any rule changes, analysts say.

Homebuilders and real estate investment trusts outperformed the broader market as investor appetite shifts toward more defensive, cash-producing sectors.

The U.S. Department of Agriculture program should also allow existing manufactured home sales to be financed, they said.

The cost of properties nationwide rose by 0.6% from July, according to the Federal Housing Finance Agency's monthly index.

The top five cities have an average median residential price per square foot of $654.

The transactions grew between second and third quarter, with the new-home market seeing one of its largest surges in cash-buying in 13 years.

For the first time in about 15 months, more new listings came on the market in August on a year-over-year basis, Redfin said.

The median monthly amount on new purchase applications fell for the first time since early summer, according to the Mortgage Bankers Association.

The National Association of Realtors' index of contract signings increased 1.1% from a month earlier to 72.6, the group reported Thursday.

The nation's biggest real estate franchisor also shed almost $300 million from its over $2.5 billion in company debt.

The market for new homes has broadly held firm in the face of decades-high mortgage rates and elevated housing prices.

The company's builder and mortgage banking segments both ended up in the black, as sales for new constructions outperform the existing-home market.

The single-family rental giant struck a deal to manage homes for another major landlord at a time when scarce inventory of properties for sale is making it hard to expand.

Households shelled out 5% more to upgrade their properties compared to a year ago, but volume will decline by almost 8% over the next 12 months, according to Harvard researchers.