A recent report from San Diego-based DataQuick reveals that although the month’s overall home sales increased, job security, tax increases, and other market uncertainty will ultimately limit growth. It is even believed that these concerns are so real that when weighed in light of other factors, they will eventually contribute to reductions in the market's housing demand, according to the data provider's April Property Intelligence Report (PIR).

In some markets, the recent home price gains may actually be too rapid, leading to concerns of a market imbalance that could eventually stall or reverse the positive trend, according to an analysis from Fitch Ratings. While the unemployment rate is trending down and low mortgage rates are helping with affordability, certain areas are seeing prices accelerate far beyond job growth and incomes. This particular problem has been especially notable in markets that have not fully recovered from the previous bubble, which includes several cities in California, the agency found.

Restrained by drops in farm income and sequester-driven cuts in government programs, personal income slipped $5.6 billion in April while personal consumption spending dropped $20.5 billion, the Bureau of Economic Analysis reported Friday. Though the income drop was less than one percent (0.04 percent), and it was less than the 0.1 percent increase forecast by economists who also expected April spending to be flat compared to March.

New York Attorney General Eric T. Schneiderman recently brought attention to two foreclosure bills meant to provide greater protection to homeowners in the state. The Certificate of Merit gives homeowners who are facing foreclosure the chance to participate in a court-supervised mediation session with their bank.

Waushara County in Wisconsin is now using eRecording to electronically record real estate and land use records.

Encouraging economic data helped lift fixed mortgage rates to their highest level in the past year this week, according to surveys from Freddie Mac and Bankrate.com. Freddie Mac's survey showed the 30-year fixed rate rising to an average 3.81 percent (0.8 point) for the week ending May 30, up from last week's 3.59 percent. Since the beginning of May, the 30-year fixed average has jumped up nearly half a percentage point. The 15-year fixed-rate mortgage (FRM) also soared this week, rising to 2.98 percent (0.7 point) from last week's 2.77 percent.

Long & Foster Real Estate, Inc. announced Arthur Nachman, a commercial broker with the company's Virginia Commercial office, was honored as Top Producer.

The Hunoval Law Firm, PLLC, which operates out of North Carolina, South Carolina, and Virginia, hired Brian Calub to join the firm as managing litigation attorney.

Another spike in home prices drove Massachusetts sales down for the third straight month in April, according to the Warren Group. The group reported 3,504 single-family home sales in the Bay State in April, a 1 percent decline from last year. The median price for single-family homes sold in April was $313,000, a 14 percent year-over-year spike.