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Buyers were willing to pay $1,597 more for a home with an olive-green kitchen, and navy-blue bedrooms boosted a home’s value by $1,815.
Homebuilder sentiment recently reached its third-lowest level since 2012.
The Mortgage Bankers Association said the post-Memorial Day increase came despite economic uncertainty and largely static interest rates.
T3 Sixty said the difference between real estate agents who subscribe to MLSs but are not Realtors and Realtor-subscribers hit 25%, the highest on record.
The Northeast and Midwest remained strong, while Florida, which saw a major runup in prices in recent years, continued to cool.
Chicago’s housing inventory is on the rise, thanks in part to a boost in new-home construction in the market.
The 6.3% month-over-month decline was the steepest the U.S. market has seen since September 2022.
At the same time, the pace of home sales continued on its downward trajectory.
In Chicago, home prices surged 6.5% year over year in March — the second-highest gain in the index after New York — and rose 1.17% month over month.
The summer is expected to bring an uptick in the pace of home sales, the association said.
New data released by CoreLogic/Cotality, and examined by noted industry researcher Mike DelPrete, contradicts this commonly held notion, however, and shows that the ratio is actually closer to 65/20.
Nationally, home sales slid 1.4% year over year but increased 11.3% month over month, RE/MAX said.
At the same time, listings under contract declined, and closings rose.
The association noted, however, that 90% of the responses to its survey tracking homebuilder sentiment were received before the announcement of a 90-day reprieve in U.S.-China tariffs.
Driven primarily by the construction boom during the pandemic, the housing market has seen some improvements in affordability, but homes remain out of reach for many would-be buyers.
For many renters, like new grads, people who travel frequently for work, recent divorcees or young couples, living small just makes more sense.