During the four-week period ended July 11, the average weekly share of homes for sale with a price drop passed 4% for the first time since September 2020.

Meanwhile, the Mortgage Bankers Association’s seasonally adjusted purchase index rose 8% from the previous week.

Two of the largest leaders in the real estate market are joining forces to form a new mortgage origination company.

The department determined that the settlement would not do enough to protect its ability to investigate other conduct by the association affecting competition in the real estate market.

Millennials were once referred to as the “renter generation” because of their preference for apartment living in urban areas over purchasing a home in the suburbs like their Baby Boomer parents.

Strong growth of single-family construction spending drove the increase, while spending on multifamily construction was flat, the National Association of Home Builders said.

“May’s strong increase in transactions — following April’s decline, as well as a sudden erosion in home affordability — was indeed a surprise. The housing market is attracting buyers due to the decline in mortgage rates, which fell below 3%, and from an uptick in listings.” — NAR chief economist Lawrence Yun

In light of the increasing number of natural disasters in recent years, the foundation commemorated its 20th anniversary by launching Hope Rising, “a campaign designed to ensure the foundation can respond to disasters as quickly and effectively as possible.”

Denying a mortgage to a woman because she is on or plans to be on maternity leave is against the law, but some lenders are accused of doing just that.

New construction apartments are getting bigger in Chicago and other major markets after shrinking in size from 2016 to 2020, according to a recent study by RENTCafe and Yardi Matrix.

The seasonally adjusted estimate of new houses for sale at the end of May was 330,000, representing a supply of 5.1 months at the current sales rate, the U.S. Census Bureau and the Department of Housing and Urban Development reported.

The shortage of housing in America is more “dire” than previously expected, and the NAR’s new report puts pressure on lawmakers to provide additional public funding and policy incentives to fix this massive underbuilding gap.

Market competition has eased up recently, but seven in 10 buyers still face bidding wars, according to a new report from Redfin.

Single-family housing starts were up 4.2% from April and 49.8% from May 2020, at 1,098,000, according to the U.S. Census Bureau and Department of Housing and Urban Development.

Although pending sales are up 29% from last year, they are starting to slow down, dropping 9.7% from their peak four weeks ago.

Increasing costs and declining availability of key building materials dampened builder sentiment, as higher costs have pushed some new homes beyond the budget of prospective buyers.