Sales of newly built, single-family homes rose 2.3 percent to a seasonally adjusted annual rate of 454,000 units in April, according to newly released figures from HUD and the U.S. Census Bureau.
Existing-home sales rose in April but remain below underlying demand because of limited inventory and tight credit, according to the National Association of Realtors.
With vacancy rates modestly falling and rents moderately rising in commercial real estate sectors, market fundamentals have improved, but financing remains a challenge for small business, according to the National Association of Realtors quarterly commercial real estate forecast.
The National Association of Home Builders (NAHB) recently applauded Sens. Robert Menendez (D-N.J.) and Johnny Isakson (R-Ga.) for introducing bipartisan legislation to encourage residential construction lending, spur job growth and keep the housing and economic recovery on track.
The shape of homeownership and housing markets has changed dramatically over time and will continue to change in the face of new housing opportunities and challenges.
A correction from an unsustainably high level of production on the volatile multifamily side was largely responsible for a 16.5 percent dip in nationwide housing starts to a seasonally adjusted annual rate of 853,000 units in April, according to newly released figures from HUD and the U.S. Census Bureau.
Growth in home sales and prices is contributing to a broader improvement in the overall economy, aided in part by current homeownership tax treatment, according to presentations at a residential real estate forum during the Realtors Midyear Legislative Meetings & Trade Expo.
Builder confidence in the market for newly built, single-family homes improved three points to a 44 reading on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI) for May, released recently.
Nationwide housing affordability held near historic highs in this year's first quarter, according to the National Association of Home Builders/Wells Fargo Housing Opportunity Index (HOI), released recently.
Metropolitan area median home prices continued to rise in the first quarter, with the national gain showing the best year-over-year performance in over seven years, according to the latest quarterly report by the National Association of Realtors.