Commentary

Home prices were up 3% year-over-year, despite stunted demand due to a shortage of homes, as inventory nationwide posts its biggest slide in 18 months.

Grant sizes range from $654,507 for the Triangle J Council of Governments in North Carolina to $7,997,798 for the Michigan Department of Health & Human Services.

July marked the first month-over-month decline in home sales since earlier this year in April, a signal that may mark the peak has passed for the typically busy summer buying season.

Independent banks reported a pre-tax net loss of over $500 on every loan originated during the second quarter of 2023. This marks a notable improvement over losses posted in the first quarter.

According to the U.S. Census Bureau, privately owned housing units counted by the number of building permits issued in July were at a seasonally adjusted annual rate of 1,442,000. This number is slightly above the revised June rate but still 13% below the July 2022 rate of 1,658,000.

The last market peak occurred in June of 2022 when the real estate market set its all-time high of $46.6T, but now a shortage of homes has propped up sales, pushing valuation numbers ever skyward.

According to First American Financial Corporation, housing affordability fell relative to one month ago as two of three key drivers of the Real House Price Index (RHPI), nominal house prices and mortgage rates reduced house-buying power by 0.7%.

According to a new report from Redfin, just 8% of single-family homes throughout the country are worth more than $1 million, a number which has retreated from an all-time high of 8.6% from just over a year ago.

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According to a new NAR report, home prices increased by single-digits in 128 of the 221 metropolitan areas tracked. Here’s why NAR Chief Economist Lawrence Yun says that "affordability challenges are easing.”