Current Market Data

New homes are trending smaller

The median area for a new single-family home fell to 2,191 square feet in the second quarter — the lowest recorded size since 2010.

CoreLogic: Home-price growth picks up speed in July 

CoreLogic expects prices to continue to grow through next year, albeit at a more traditional pace than in the height of the pandemic. 

High housing costs dampen homebuyer demand

Those looking to buy a house will be paying a premium as inventory continues to be an issue.

One in five millennials think they’ll never own a home

Eighteen percent of millennials — approximately one in five — believe they will never become a homeowner, according to a recent survey from Redfin.

NAR: Pending-home sales post second monthly increase in a row 

Pending transactions were in negative territory for most of this year, so the recent increases could bode well for future activity. 

CoreLogic: Home-price index just 0.02% off 2022 peak; Denver sees 4.4% decline 

A fifth consecutive month of increases in the S&P CoreLogic Case-Shiller U.S. National Home Price Index suggests the housing market recovery that began earlier this year is likely to continue. 

‘Collapse’ of housing inventory drives price rebound 

Two weeks after housing inventory turned negative, home prices posted a healthy increase, MarketNsight said. 

Half of all buyers are first-timers in 2023

First-timers made up 45% of buyers in 2022 and 37% in 2021.

NAR: Existing-home sales decline as median price remains above $400,000 

High mortgage rates and limited inventory continued to weigh on sales activity, National Association of REALTORS®Chief Economist Lawrence Yun said. 

Housing starts rebound in July after June slump 

Single-family home permits and completions, meanwhile, also rose, according to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development. 

Monthly mortgage payments up nearly 20% from 2022

Meanwhile, July’s home sale prices had their highest increase since November.

Modern newlyweds wish they’d registered for a down payment

Of survey respondents who made a wedding registry in the past two years, 85% said they would have preferred to receive money they could have used towards a down payment, mortgage payment or other associated homebuying costs.

NAR: Pending-home sales rise for the first time in four months 

The industry group issued its housing-market forecast along with its monthly Pending Home Sales Index for June. 

Only 1% of U.S. houses changed hands this year

Back in 2018, Freddie Mac stated that the country still needed about 2.5 million extra homes in order to meet demand. Then the pandemic homebuying boom depleted already-low inventory levels and high mortgage rates in the second half of 2022 chained many homeowners to their existing low rates.

NAR: Existing-home sales slow as prices near all-time high 

The median existing-home price for all housing types in June rose to $410,200, 0.9% less than the all-time high of $413,800 reached in June 2022, the National Association of REALTORS® said. 

NAHB: Builder confidence hits 13-month high 

Low inventory and high demand are buoying builder sentiment in the face of several headwinds. 

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