Housing markets

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.

The top five towns have an average median home value of $646,380.

The median nationwide home price also increased by 2% to a new high of $350,000, according to a report published by Attom.

Contract closings decreased 2% from a month earlier to a 3.96 million annualized pace, National Association of Realtors data showed Thursday.

Residential starts increased 7% last month after falling by the most in over a year in August, according to government data released Wednesday.

Providing support to affordable rental developments is a key component in the Biden administration's efforts to increase housing supply.

Homebuilder sentiment fell to a nine-month low in October, the latest indication of the toll on residential real estate from soaring mortgage rates and declining affordability.

The bottom five cities in the ranking have an average total score of 30.48.

The lucrative broker commission system at the heart of the residential housing market is facing unprecedented antitrust scrutiny from the Justice Department and two private class-action lawsuits that risk weakening the National Association of Realtors, the industry's powerful lobbying group.

Expected income earned through rental of the units will be considered in underwriting for FHA-backed mortgages and rehabilitation loans.

Federal Reserve Bank of Philadelphia President Patrick Harker said higher interest rates are making it more challenging for first-time home buyers by raising borrowing costs and limiting inventory, which is also leading to higher home prices

The top five cities in the ranking have an average total score of 64.5 out of 100.