The larger-than-expected increase comes as homebuilder sentiment rose for the sixth month in a row. 

There are nearly 40% fewer homes for sale now than before the pandemic began

Despite the tightly packed buildings you may see in many big cities in the U.S., there’s a lot more vacant land around the country than many people realize — and a lot of that land is right here in Texas.

The Federal Reserve on Wednesday halted its streak of 10 consecutive rate hikes since March 2022.

Homes affordable to middle-income buyers — defined as households earning up to $75,000 — fall in the $256,000-to-$320,000 range. But of the over one million U.S. homes on the market at the end of April, less than a quarter of all listings were within that price range.

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The first quarter of 2023 shows some serious agent fluctuation at many of the country’s biggest brokerages.

These new homes are envisioned as “missing middle housing,” such as medium and large apartment buildings.

A second consecutive month of increases in the S&P CoreLogic Case-Shiller U.S. National Home Price Index could indicate a reversal of the negative trend that began last year. 

The incoming executive has held similar roles at BlueLinx Corp. and Extended Stay America. 

Despite solid demand, a dearth of homes for sale kept transaction numbers muted in the association’s most recent report on pending sales. 

A shortage of existing inventory continues to drive buyers to new construction. 

Multiple-offer situations have returned with the spring buying season while distressed and forced sales are “virtually nonexistent,” the National Association of REALTORS® said.

The hire follows the December 2022 firing of the homebuilder’s senior vice president for field operations, who had been tapped to become COO on Jan. 1. 

Single-family permits also posted a gain, indicating even more new homes are headed to today’s supply-constrained housing market.