Contractors can solve the issue over the next decade, NAR said, but data shows they're far from reaching the construction pace needed to rebound.

The average US 30-year fixed mortgage rate dipped to 2.71% from 2.72%, Freddie Mac said Thursday. The new level marks the rate’s 14th record low of the year. Near-zero interest rates have pushed borrowing costs to historically low levels and fuelled a buying spree in the nation’s housing market. Limited […]

Sales of previously owned homes leaped 9.4% in September to a seasonally adjusted annual rate of 6.54 million, the National Association of Realtors announced Thursday. The reading marks the fourth-straight month of accelerating sales, and the latest rate is the fastest since 2006. Economists surveyed by Bloomberg expected the sales […]

The average US 30-year fixed mortgage rate fell to 2.81% from 2.87%, its lowest in Freddie Mac data going back nearly 50 years. The reading also marks the 10th record low this year, reflecting the tumbling borrowing costs that fuelled the housing market’s rebound. Sales of new and existing homes […]

The National Association of Realtors’ Pending Home Sales Index surged 8.8% last month to an all-time high of 132.8, signalling the US housing market’s rally continued into the fall. Economists surveyed by Bloomberg expected an increase of 3.1%. The reading is the fourth-straight climb for the index. All four major […]

Sales of new US homes accelerated by 4.8% to an annual rate of 1 million units in August, the Census Bureau reportedThursday. That pace is the highest since 2006 and marks four consecutive months of increasing sales. The agency’s estimate of new homes for sale fell to 282,000, reflecting 3.3 […]

The US 30-year fixed mortgage rate fell to 2.86% from 2.93%, its lowest level in Freddie Mac data going back nearly 50 years. The rate has hit record lows nine times in 2020, fuelling the housing market’s rally throughout the coronavirus pandemic. Though the housing market’s strength persisted through the […]

US new home sales soared 13.9% in July to a seasonally adjusted annual rate of 901,000 units, the highest level since December 2006, according to a Tuesday release from the US Census Bureau. The median sales price jumped 7.2% from the year-ago period to $US330,600. Sales spiked by 58.8% in […]

US housing starts jumped 22.6% in July to a seasonally adjusted 1.5 million, the Commerce Department reported Tuesday. The solid report marked the third-straight month of gains and exceeded economists expectations for an increase to 1.25 million. “Housing construction blew past expectations, cementing the industry as one of the solid […]

US home prices are set to fall 6.6% over the next year as the coronavirus pandemic fallout worsens, according to a Tuesday report from CoreLogic. The group’s home price index increased 4.8% in the 12 months through May, supported by strong demand, especially from younger buyers, and low supply, according […]

Pending home sales surged 44.3% in May, the largest month-over-month increase in the series history, the National Association of Realtors said Monday. The rebound in the index in May is further proof that the housing market is recovering swiftly following sweeping lockdowns to contain the coronavirus pandemic, fuelled by pent-up […]

There are early signs that a V-shaped recovery may be underway in the housing market. A slew of data this week either showed early signs of recovery, or represented the low from the shock of the coronavirus pandemic. This could help lift other areas of the economy, especially those linked […]

US new-home sales surged 16.6% in May from April, to an annualized pace of 676,000, the Census Bureau said Tuesday. Economists surveyed by Bloomberg had expected a jump to an annualized rate of 640,000. In addition, the May rate is nearly 13% higher than the same month one year ago. […]

Existing home sales slumped 9.7% to a seasonally adjusted annual rate of 3.91 million units in May, the National Association of Realtors said Monday. Sales now sit at their lowest in nearly a decade, yet the association sees May representing the metric’s bottom before bouncing back through the rest of […]

US home mortgage delinquencies surged to the highest level since November 2011, according to a Monday report from Black Knight. Total borrowers more than 30 days late skyrocketed to 4.3 million in May from 3.4 million in April, the report showed. In addition, more than 8% of all US mortgages […]

A recent study by personal finance platform GoBankingRates revealed a list of the biggest US housing markets where it’s most difficult to sell a house. To gather the list, the study looked at cities where home values are greater than median list prices and analysed each market across six weighted […]

High-earning millennials are flocking to smaller US cities to put down roots, according to a new Realtor.com report ranking the hottest ZIP codes in America. Buyers are attracted to these markets largely because of their affordable home prices and proximity to big cities. Midwestern cities dominate the list, including Grand […]