Homebuilder optimism was buoyed by continued shortages of new housing inventory, the National Association of Home Builders reported. 

Interest rates on mortgages of all types declined last week, spurring an uptick in borrowing, the Mortgage Bankers Association reported. 

High demand drove multiple offers on about a third of pending sales, while 28% of homes sold above list price, the National Association of REALTORS® reported. 

The top 10 most expensive listings added to the Multiple Listing Service in the past month include a downtown penthouse and a charming houseboat.

U.S. government data shows builders increased the pace of single-family home construction while slowing the pace of multifamily starts. 

The National Association of Home Builders/Wells Fargo Housing Market Index rose for the fourth month in a row in April as the construction industry remained “cautiously optimistic.”     

This was the fourth week in a row of declines, leaving prospective buyers hopeful for sustained low rates throughout spring homebuying season.

Condominium owners looking for more space, access to outdoor areas and increased distance from neighbors often consider a detached home to be a natural upgrade. But are these upsizing dreams actually attainable?

The National Association of REALTORS® Pending Home Sales Index rose for the third month in a row, suggesting the housing market’s contraction could be “coming to an end.” 

In Seattle, home prices fell 5.1% on a yearly basis and 1.4% on a monthly one. 

Two of the most expensive new listings were posted by Laura and Katherine Halliday of Realogics Sotheby’s International Realty.

The supply of new homes for sale ticked lower from February, according to government figures.

The annual rate of 4.58 million sales was up 14.5% from January but down 22.6% from the February 2022 rate of 5.92 million. 

A shortage of existing-home inventory is driving more people to the market for newly built homes. 

Homebuilders expressed “cautious optimism” that the lack of existing inventory would drive demand for new homes despite high construction costs and interest rates, the National Association of Home Builders reported.    

The Mortgage Bankers Association noted the increase in borrowing activity came despite the 30-year fixed mortgage rate climbing to its highest level since November 2022.