Posts by John Yellig

New residential sales fall in April as home prices, mortgage rates continue to climb 

The rate of new single-family home sales fell 16.6% from March’s revised number, while the median sales price jumped to $450,600 from March’s revised median house price of...

“Unusual” market in April as home sales slow, but listed homes still sell quickly and at high prices

The inventory of unsold homes increased in April, while the median existing-home sales price rose, according to the National Association of...

Single-family home construction slows for second month in a row as apartment starts jump 

“Builders are responding to higher mortgage rates and are chasing rising rents, with fewer homebuyers and more renters being forced to renew their leases.” — NAR Chief Economist Lawrence...

NAHB: Builder confidence plunges in May on affordability concerns 

The release of the monthly survey from the National Association of Home Builders comes as the Biden Administration unveiled a housing-supply action plan that aims to boost the supply of affordable apartments and new...

Mortgage applications rise for second week despite historically high rates 

Despite a slow start to the spring homebuying season, prospective buyers are showing some resiliency in the face of higher mortgage rates, as seen by two weeks in a row of increasing loan...

Smaller markets lead the way in Q1 home-price gains; Houston sees 17.4% rise 

Seventy percent of the 185 metros surveyed by the National Association of REALTORS® saw double-digit price gains in the first quarter, compared to 66% in the preceding...

Mortgage applications fall as rates hit 13-year high 

Overall mortgage-application volume was at its lowest level since 2018, the Mortgage Bankers Association said....

New-home sales fall again in March 

Low inventory and rising interest rates have reduced prospective homebuyer purchasing...

NAR data shows another dip in existing-home sales 

Rising interest rates and home prices have taken a toll on would-be homebuyers’ purchasing power, leading to increased inventory and another monthly slowdown in...

Overall new-home construction rises in March despite slowdown in single-family

Single-family home starts declined compared to February, while new apartment construction was up, according to government statistics....

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