Just 56.6% of homes sold during the quarter were affordable to families earning the U.S. median income of $79,900, according to the National Association of Homebuilders/Wells Fargo Housing Opportunity Index.

Vulcan Inc. has acquired a 1.4-acre development site for $17.9 million, adding 270,000 square feet of multifamily inventory to its 7.9 million square feet of commercial space and 3,390 residential units.

International buyers purchased 107,000 residential properties from April 2020 through March 2021, marking a 31% decline from the 154,000 residences bought the previous year.

Looking forward, 37% of the survey’s respondents expect drones to be the most-impactful technology over the next 24 months, followed by cyber security (34%), 5G (31%) and virtual reality (30%).

Affordability declined in 49 of the 50 major markets according to the May 2021 First American Real House Price Index.

The new executive joins RentPath from ParkMobile, which provides an app to help drivers pay for metered parking remotely.

With the increased number of professionals working remotely, today’s homebuyers are putting less of a premium on commute time and more on affordability.

The U.S. Census Bureau and the Department of Housing and Urban Development reported that the median sales price slid to $361,800 from $380,700 in May.

At the same time, the median existing-home price for all housing types in May was up 23.4% on an annual basis, as every region in the country registered price increases.

Meanwhile, the seasonally adjusted purchase index declined 6% from the previous week, the Mortgage Bankers Association reported.

Privately owned housing units authorized by building permits in June came in at a seasonally adjusted annual rate of
1,598,000, down 5.1 % from the revised May rate of 1,683,000, but 23.3% above the year-ago rate of 1,296,000.

July’s reading of 80 was down one point from June, but still signaled strong demand for housing, the National Association of Home Builders said.

During the four-week period ended July 11, the average weekly share of homes for sale with a price drop passed 4% for the first time since September 2020.

How luxurious is the American real estate market? You may be surprised.

Meanwhile, the Mortgage Bankers Association’s seasonally adjusted purchase index rose 8% from the previous week.

The eight-week Aspire internship program, launched  on July 13, focuses primarily on the single-family and multi-family residential real estate market in the Seattle area.