By the Numbers

Housing starts post major gains in February 

A shortage of existing-home inventory is driving more people to the market for newly built homes. 

Builder confidence rises again in March 

Homebuilders expressed “cautious optimism” that the lack of existing inventory would drive demand for new homes despite high construction costs and interest rates, the National Association of Home Builders reported.    

MBA: Mortgage applications rise 7.4% despite increased rates 

The Mortgage Bankers Association noted the increase in borrowing activity came despite the 30-year fixed mortgage rate climbing to its highest level since November 2022. 

Chicago home-price growth among nation’s highest in new CoreLogic report

In January, home prices were up 5.5% annually and down 0.2% monthly, CoreLogic reported, citing its monthly Home Price Insights report. 

Pace of annual home-price gains slows in latest Case-Shiller; Chicago sees 5.9% increase 

The S&P CoreLogic Case-Shiller U.S. National Home Price Index rose 5.8% year-over-year in December, compared to a 7.6% gain in November.

NAR: Pending-home sales jump in January 

The 8.1% month-over-month increase in the National Association of REALTORS® Pending Home Sales Index was the largest gain since June 2020. 

New-home sales jump 7.2% in January 

The median sales price of a new home declined on both a monthly and yearly basis, however, the U.S. Census Bureau and the U.S. Department of Housing and Urban Development reported.        

NAR: Existing-home sales post 12th monthly decline in January, as prices rise again 

The 30-year fixed-rate mortgage averaged 6.32% as of Feb. 16, up from 6.12% a week before and 3.92% a year earlier. 

Average apartment size shrinks across the country

The average size of new apartments across the country has decreased by 30 square feet year over year, according to a new report from RentCafe.

Mortgage applications decline after rate increase 

The pace of mortgage applications fell 7.7% in the week ended Feb. 10, the Mortgage Bankers Association reported. 

Builder confidence jumps in February 

Builder confidence rose for the second consecutive month in February with a seven-point increase that brought it to its highest level since last September, the National Association of Home Builders said. 

MBA: Mortgage applications jump on lower rates 

The 30-year fixed rate fell for the fifth week in a row, giving a lift to lending activity, the Mortgage Bankers Association said. 

New-home sales rise in December 

The median sales price of a new home was down on a monthly basis but up on an annual one. 

NAR: Existing-home sales dip 1.5% in December 

House prices, however, continued to rise, marking the 130th consecutive month for price gains, the longest streak on record, the National Association of REALTORS® said.   

Single-family starts, builder confidence rise 

The increase in builder confidence breaks a string of 12 straight monthly declines in the NAHB/Wells Fargo Housing Market Index. 

CoreLogic: Annual home-price growth rate slows to 2-year low 

Geographically, the largest home-price increases took place in the Southeast, led by Florida (18%), South Carolina (13.9%) and Georgia (13.6%), CoreLogic reported, citing its November Home Price Insights report.    

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