The average contract interest rate for 30-year fixed-rate mortgages backed by the Federal Housing Administration increased to 3.93% from 3.86%, the Mortgage Bankers Association said. 

Across the country, 10% of ZIP codes with the largest share of children had an average home value growth of 21.3% from October 2020 to October 2021.

“The market remains virtually sold out, and there is a significant backlog of buyers looking for a home to purchase,” said J. Lennox Scott, chairman and CEO of John L. Scott Real Estate. 

Home-price growth could slow by the end of 2022, despite the housing market breaking records in January.

Home-price growth is expected to average about 5% this year, far below the record-breaking pace set in 2021, RCLCO reported. 

The new year kicked off with the hottest January on record, despite having the first pending sales decline since June of 2020, according to a recent Redfin report.  Last month, 45% of homes found a buyer within two weeks

Home values grew 19.6% last year, an all-time high in Zillow’s data, which goes back more than 20 years.

In 2021, home sale profits rose in more than 90% of the country’s housing markets and reached the highest level since 2008. 

Builders started to make headway against supply-chain issues that have hampered construction of homes in the face of high demand. 

Rising prices and rates are driving up mortgage payments which are pushing up demand for rentals.

Rent growth also slowed in December, posting the lowest monthly increase since February 2020.

New homes and existing homes are appreciating at similar rates, according to a new report from CoreLogic.

Northwest Multiple Listing Service member-brokers sold more properties for more money in 2021 than ever before, the organization said in a news release this week.

“December saw sales retreat, but the pull back was more a sign of supply constraints than an indication of a weakened demand for housing.” — NAR chief economist Lawrence Yun

December housing sales fell lower than they have since the start of the pandemic, a new Redfin report found.

While multifamily starts surged 13.7% compared to November, the pace of new single-family housing construction slid 2.3%, according to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development.