The pace of new multifamily construction, however, jumped, according to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development.  

At the same time, the median existing-home price rose 13.4% year over year to $416,000. 

Nationwide, sales hit their highest level of the year, rising 4.7% from June but falling 17.6% on a year-over-year basis, RE/MAX said. 

July saw the NAHB/Wells Fargo Housing Market Index post its second-largest monthly drop ever, as worries about housing affordability dampened builder sentiment. 

According to the annual survey, the typical Realtor saw their transaction sides rise from 10 to 12 and their sales volume increase from $2.1 million to $2.6 million. 

The residential-brokerage franchisor announced a host of company-wide steps it is taking to grow its business. 

Steeper mortgage rates and priced-out buyers paved the way to a slightly cooler housing market in Dallas and other major cities this spring, hinting that the booming post-pandemic seller’s market may have an expiration date. 

A new report from ShowingTime reveals a continued drop in home showings nationwide: During May, buyer traffic decreased 18.2% year over year.

Realor.com has compiled a list of the 10 markets where homes are lingering the longest — giving buyers a rare edge.

The increase ends a six-month string of monthly declines, the National Association of REALTORS® said.

New-home inventory rose to 444,000 homes in May from 437,000 homes in April, the U.S. Census Bureau and the U.S. Department of Housing and Urban Development reported.  

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?