National News

NAHB: Residential construction spending rises in May thanks to single-family sector
NAHB: Residential construction spending rises in May thanks to single-family sector

Strong growth of single-family construction spending drove the increase, while spending on multifamily construction was flat, the National Association of Home Builders said.

Realtors Relief Foundation launches 20th anniversary campaign
Realtors Relief Foundation launches 20th anniversary campaign

In light of the increasing number of natural disasters in recent years, the foundation commemorated its 20th anniversary by launching Hope Rising, “a campaign designed to ensure the foundation can respond to disasters as quickly and effectively as possible.”

Lenders accused of maternity-leave discrimination
Lenders accused of maternity-leave discrimination

Denying a mortgage to a woman because she is on or plans to be on maternity leave is against the law, but some lenders are accused of doing just that.

NAR: U.S. housing market is short 5.5 million homes
NAR: U.S. housing market is short 5.5 million homes

The shortage of housing in America is more “dire” than previously expected, and the NAR’s new report puts pressure on lawmakers to provide additional public funding and policy incentives to fix this massive underbuilding gap.

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.

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.

Could zoning changes help boost supply and balance the market?
Could zoning changes help boost supply and balance the market?

With high costs slowing construction and potentially lowering homeownership for many, easing zoning rules may be the most effective way to increase the supply of new housing. 

High-end home sales, prices jump as market flourishes
High-end home sales, prices jump as market flourishes

High-end home sales surged in the three months ended April 30 as prices also rose and listings increased.

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