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®. 

Dallas-Fort Worth was third on the list with 1,116 iBuyer home sales in the first quarter, accounting for 5.1% of home sales in the market.

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.

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

The Federal Reserve raised interest rates by .75% today: the sharpest increase since 1994. How will that affect real estate?

Two major real estate firms are cutting their workforces amid a cooling housing market. Compass and Redfin are laying off 10% and 8% of their current staffs, respectively.

Lumber prices, once emblematic of widespread supply-chain woes, are finally beginning to fall. How will this affect the housing market?

Nationally, the index posted its highest annual increase ever.

Most of the single-family homes are in Texas, Georgia, Alabama and Oklahoma. 

Nevertheless, home prices are expected to continue rising through the end of the year, according to the National Association of REALTORS®. 

The rate of new single-family home sales fell 16.6% from March’s revised number, while the median sales price jumped to $450,600 from March’s revised median house price of $435,000. 

Compass made its debut on the Fortune 500 today, becoming one of the youngest companies to make the list.

The inventory of unsold homes increased in April, while the median existing-home sales price rose, according to the National Association of REALTORS®.

“Builders are responding to higher mortgage rates and are chasing rising rents, with fewer homebuyers and more renters being forced to renew their leases.” — NAR Chief Economist Lawrence Yun 

The release of the monthly survey from the National Association of Home Builders comes as the Biden Administration unveiled a housing-supply action plan that aims to boost the supply of affordable apartments and new homes. 

The rate of Hispanic homeownership is steadily increasing, new data from The National Association of Hispanic Real Estate Professionals shows. With 8.8 million Hispanic-owned households, more than 48% of Latinos now own homes, reflecting a continual rise since 2014.