By the Numbers

The pace of home prices continued to rise in the third quarter, but at a slower clip

Seventy-eight percent of the 183 U.S. markets monitored by the National Association of Realtors had double-digit increases in their median home prices, a decline from the second quarter, when 94% of markets saw double-digit increases.

Mortgage applications decline despite drop in interest rates

“Mortgage rates decreased for the first time since August, as concerns about supply-chain bottlenecks, waning consumer confidence, weaker economic growth and rising inflation pushed Treasury yields lower.” — MBA associate vice president of economic and industry forecasting Joel Kan

NAR: Pending-home sales slide 2.3% in September

“Contract transactions slowed a bit in September and are showing signs of a calmer home price trend, as the market is running comfortably ahead of pre-pandemic activity.” — NAR chief economist Lawrence Yun

S&P CoreLogic Case-Shiller: Home prices rise again

Home-price gains were once again broadly distributed, as all 20 cities in the S&P CoreLogic Case-Shiller Home Price Index rose, although in most cases at a slower rate than a month ago.

Mortgage applications rise despite increase in interest rates

At the same time, the increase in interest rates drove fewer borrowers to refinance their loans, according to the Mortgage Bankers Association.

Housing market starts to balance in September, giving buyers more choices, time

The month also saw a slight shift in inventory, even though shortages continued.

New-home sales rebound in September as prices hit new record

“There simply aren’t enough homes for sale relative to the demand fueled by millennials armed with low mortgage rate-driven house-buying power.” — First American Deputy Chief Economist Odeta Kushi

NAR: Existing-home sales rebound in September

The median existing-home price for all housing types in September was $352,800, up 13.3% on an annual basis, as every region in the country registered price increases.

New-home construction cools in September

The decrease was driven by a 5.1% month-over-month slide in the rate of multifamily starts, while single-family construction was flat.

RE/MAX: Seattle housing market takes a pause in September 

Days on market rose 7.1% from August, and the median price of houses sold slid 1.8% to $638,000, according to RE/MAX’s National Housing Report. 

Mortgage rates spike at the end of September

Mortgage rates rose quickly last week. The 30-year fixed mortgage rate hit 3.01%, up 0.13% from the week prior.

NAR: Pending home sales rebound in August

All four geographic regions saw increases, led by the Midwest, which clocked a 10.4% rise from July, and the South, where sales rose 8.6%. Pending transactions rose 7.2% in the West and 4.6% in the North.

S&P CoreLogic Case-Shiller: Home-price gains set fourth record in a row

The 10-city composite index rose 1.4% on a monthly basis and 19.1% on a yearly basis, while the 20-city composite gained 1.5% monthly and 19.9% annually. 

New-home sales rise in August

The seasonally adjusted estimate of new houses for sale at the end of July was 378,000, representing a supply of 6.1 months at the current sales rate.

Surge in multifamily construction drives housing starts in August

The increase was driven by a 21.6% month-over-month spike in the rate of new multifamily construction. Single-family housing starts, meanwhile, slid 2.8%.

NAHB: Builder confidence posts first monthly gain in four months

September’s reading of 76 was up one point from August, despite lingering challenges with labor and the building-material supply chain, the National Association of Home Builders reported, citing the latest NAHB/Wells Fargo Housing Market Index.

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