Today’s Top News: The last week of October is the best time to buy in Boston

National News

Single-family housing starts fall for fourth month in a row in June

The pace of new multifamily construction, however, jumped, according to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development.  
NAR: Existing-home sales continue slide in June

At the same time, the median existing-home price rose 13.4% year over year to $416,000. 
Boston home sales jump 26.3% month over month in June

Nationwide, sales hit their highest level of the year, rising 4.7% from June but falling 17.6% on a year-over-year basis, RE/MAX said. 
NAHB: Builder confidence falls for seventh consecutive month in July

July saw the NAHB/Wells Fargo Housing Market Index post its second-largest monthly drop ever, as worries about housing affordability dampened builder sentiment. 
2022 NAR Member Profile: Median Realtor income jumps in 2021

According to the annual survey, the typical Realtor saw their transaction sides rise from 10 to 12 and their sales volume increase from $2.1 million to $2.6 million. 
RE/MAX begins major push for new brokerages, layoffs to come with third-party tech adoption

The residential-brokerage franchisor announced a host of company-wide steps it is taking to grow its business. 
Showing activity drifts toward 2020 levels

A new report from ShowingTime reveals a continued drop in home showings nationwide: During May, buyer traffic decreased 18.2% year over year.
Boston home price growth exceeds 11% in May, deceleration on the horizon

Prices for single-family homes in Boston increased by 11.1% year over year in May, up from 10.9% month over month.
10 markets where buyers retain an edge

Realor.com has compiled a list of the 10 markets where homes are lingering the longest — giving buyers a rare edge.
Housing inventory rebounds at record rate in largest metros, but Boston lags behind, Realtor.com reports

The number of homes available to buyers climbed 18.7% in June, the sharpest year-over-year increase in the history of the report.
Boston price increases revealed in new S&P CoreLogic Case-Shiller Index

What does the latest S&P CoreLogic Case-Shiller Index show about Boston real estate?
Pending-home sales post surprise increase in May

The increase ends a six-month string of monthly declines, the National Association of REALTORS® said.

Surprise surge in new-home sales in May as median price falls

New-home inventory rose to 444,000 homes in May from 437,000 homes in April, the U.S. Census Bureau and the U.S. Department of Housing and Urban Development reported.  
Median existing-home price tops $400,000 for first time in May

Meanwhile, existing-home sales slid 3.4% from April to a seasonally adjusted annual rate of 5.41 million, according to the National Association of REALTORS®. 
Boston home sales fall 8.8% year over year in May

Nationwide, sales fell 8.5% annually and rose 5.8% monthly, as rising interest rates and home prices weighed on homebuyers’ purchasing power, RE/MAX said.

Housing starts plunge in May amid uncertain economic conditions

New-home completions rose during the month, however, with the increased inventory representing a rare bright spot in an otherwise gloomy government report.