Affordability and supply-chain issues continued to weigh on the sales of new single-family residences.

Houzz, the home remodeling and design platform, has released its annual U.S. State of the Industry report which reveals a four-year high in revenue growth.

The median existing-home price for all housing types in February was $357,300, up 15% from a year before, as median prices rose in each region.    

“More groundbreaking is welcome news for a supply-starved housing market.” — First American deputy chief economist Odeta Kushi 

The measurement of six-month sales expectations among homebuilders took an especially negative turn in March, according to the National Association of Home Builders. 

“Investors are weighing the impacts of rapidly increasing inflation in the U.S. and many other parts of the world against the potential for a slowdown in economic growth due to a renewed bout of supply-chain constraints.” — MBA associate vice president of economic and industry forecasting Joel Kan

The company has named Paul Hurst its chief innovation officer, a new role that reports directly to CEO Ken DeGiorgio.

Of the homes that went under contract during the four weeks ended March 6, 58% had an accepted offer within the first two weeks of going on the market, and 45% had an accepted offer within just one week, Redfin reported.

Paul Ratha Yem is a Massachusetts real estate broker and former Cambodian refugee who sees parallels between his story and the women and children escaping war-torn Ukraine.

Foreign buyers accounted for less than 2% of U.S. residential real estate transactions last year, and Russian buyers accounted for less than 1% of those, the National Association of REALTORS® reported. 

“Looking ahead, the potential for higher inflation amidst disruptions in oil and other commodity flows will likely lead to a period of volatility in rates.” — MBA associate vice president of economic and industry forecasting Joel Kan 

The real estate franchisor’s 140,000 agents closed more than two million transaction sides in 2021 to become the first real estate brand to do so in a single calendar year, according to the company.

The National Association of REALTORS® released an official statement this week regarding Russia’s invasion of Ukraine.

“Given the situation in the market — mortgages, home costs and inventory — it would not be surprising to see a retreat in housing demand.” — NAR chief economist Lawrence Yun 

@properties Christie’s International Real Estate has released the findings of a new survey focused on brokerage technology.

“Builders are entering 2022 with backlogs that they are having a hard time completing due to material and labor shortages, and new-home prices are sitting near a historic high.” — First American Deputy Chief Economist Odeta Kushi