Housing markets

More than one-third of average wages is now needed for borrowers to make regular payments on the typical home, according to Attom. Meanwhile, the Mortgage Bankers Association found monthly costs rose 14% annually.

The National Association of Realtors' index of contract signings to purchase previously owned homes dropped 2.7% to 76.5 last month, according to data released Thursday.

But the annual rate of change turned negative for the first time in 11 years, according to the Case-Shiller index.

However, as it currently stands, most measures suggest "the market does not have a path to close the housing deficit in the near-term," Citigroup said. 

Researchers at the government-sponsored enterprise also maintained their outlook for a modest recession but moved anticipated onset to the fourth quarter this year.

The first and fourth-largest home insurers in the Golden State won't issue new policies because of rising construction costs and exposure to catastrophes.

Millions of would-be borrowers are reportedly "doubling up" by sharing homes with nonrelatives, Zillow found.

We have the tools to address our housing challenges through a mix of regulatory reforms, policy changes, incentives and investment. What's needed is the will and leadership to put those tools to work.

An Urban Institute and Federal Home Loan Bank of San Francisco paper suggests creating a pilot program in which some down payment funds are set aside in case the borrower runs into problems.

With new construction activity at the highest level in more than a year, the Federal Reserve Bank of Atlanta's GDPNow tracker is projecting residential investment added 0.1% to growth in gross domestic product in the second quarter.

The city won't allow developers to supply new suburban subdivisions with groundwater, prompting a scramble for alternative water sources and a predicted rise in local housing costs.

Contract closings edged up 0.2% to a 4.3 million annualized pace, according to data released Thursday by the National Association of Realtors.

Prospective borrowers are flocking to newly built properties as current homeowners shy away from listings due to high mortgage rates.

Applications to build increased, suggesting residential construction is on track to help fuel economic growth.

Alimited supply of existing homes continued to spark interest in new construction, the National Association of Home Builders found.

The number of new listings coming to market in recent weeks fell by over 23% annually, with Western cities seeing the largest rates of decrease, according to Redfin.

The uptick occurred as conforming rates pulled back for the second week in a row, coming in below the jumbo average according to the Mortgage Bankers Association.

Many of the homes being offered for sale are part of a portfolio acquired from Pretium Partners in late 2021, according to people familiar with the matter.

While paying off existing loans is their most immediate priority, buying a house is the No. 1 aim within five-to-10 years, a FinLocker survey found.

Republican-led bills seeking to reverse adjustments to mortgage fees and a bipartisan bill aiming to reinstate tax deductions on mortgage insurance stand to change operations for lenders if they pass.