Current Market Data

New-home sales drop 6% in May as median-sales prices increase again
New-home sales drop 6% in May as median-sales prices increase again

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.

Existing-home sales slide again in May
Existing-home sales slide again in May

The median existing-home price for all housing types rose to $350,300 in May, marking another new record.

70% of homebuyers still facing bidding wars
70% of homebuyers still facing bidding wars

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

New-home mortgage applications drop 9% in May
New-home mortgage applications drop 9% in May

On a year-over-year basis, new-home mortgage applications were down 5.9% in May, the Mortgage Bankers Association reported, citing its Builder Application Survey.

Houston home inventory levels rebounded in May
Houston home inventory levels rebounded in May

Inventory levels rebounded last month, finally showing signs of recovery following a year of historical declines.

Houston home sales transactions up 49.5% from a year ago
Houston home sales transactions up 49.5% from a year ago

The typical increase in home sales as summer approaches failed to materialize nationwide last month, with average sales dropping 0.2% from April to May, but month-over-month sales in Houston bucked the trend, climbing 1.3%, according to the RE/MAX May National Housing Report.

Houston’s tight inventory shows signs of relief
Houston’s tight inventory shows signs of relief

HAR’s weekly activity snapshot shows that for the second consecutive week, new listings continued to rise, helping alleviate some of the pressure on dwindling inventory.

Housing starts rise in May, but building permits fall
Housing starts rise in May, but building permits fall

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.

Housing market simmers down, but pending sales are still up
Housing market simmers down, but pending sales are still up

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

NAHB: Builder confidence sinks on rising materials costs, supply chain shortages
NAHB: Builder confidence sinks on rising materials costs, supply chain shortages

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.

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