Trends

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Existing-home sales slide again in May
Existing-home sales slide again in May

The median existing-home price for all housing types rose to $350,300 in May, marking another new record. 

70% of homebuyers still facing bidding wars
70% of homebuyers still facing bidding wars

Market competition has eased up recently, but seven in 10 buyers still face bidding wars, according to a new report from Redfin.

New-home mortgage applications drop 9% in May
New-home mortgage applications drop 9% in May

On a year-over-year basis, new-home mortgage applications were down 5.9% in May, the Mortgage Bankers Association reported, citing its Builder Application Survey.

Housing starts rise in May, but building permits fall
Housing starts rise in May, but building permits fall

Single-family housing starts were up 4.2% from April and 49.8% from May 2020, at 1,098,000, according to the U.S. Census Bureau and Department of Housing and Urban Development.

Housing market simmers down, but pending sales are still up
Housing market simmers down, but pending sales are still up

While pending sales are up 29% year over year, they are starting to slow and have fallen 9.7% from their peak.

NAHB: Builder confidence sinks on rising materials costs, supply chain shortages
NAHB: Builder confidence sinks on rising materials costs, supply chain shortages

Increasing costs and the declining availability of key building materials dampened builder sentiment, as higher costs have pushed some new homes beyond the budget of prospective buyers. 

Could zoning changes help boost supply and balance the market?
Could zoning changes help boost supply and balance the market?

Expert panelists from Zillow’s Home Price Expectations Survey say if changes aren’t made, new construction growth will stall, home prices will continue to increase, and less of today’s 30-somethings will have the ability to own a home.

Out-of-town movers reshuffling to larger, more affordable homes
Out-of-town movers reshuffling to larger, more affordable homes

Rising property values had homeowners cashing out of their existing residences to buy bigger homes in less-expensive areas last year.

Thursday is the most popular day to list a home in Atlanta
Thursday is the most popular day to list a home in Atlanta

With half of all homes in today’s market selling above the asking price, the timing of when to list can have an impact on both time on market and sale price.

Atlanta home prices reach new highs in May
Atlanta home prices reach new highs in May

Home-price growth remained in double digits for the 10th straight month in May, as inventory lows pushed the median listing prices up 15.2% from last year.

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