“May’s strong increase in transactions — following April’s decline, as well as a sudden erosion in home affordability — was indeed a surprise. The housing market is attracting buyers due to the decline in mortgage rates, which fell below 3%, and from an uptick in listings.” — NAR chief economist Lawrence Yun

In Atlanta, the index rose 1.7% month over month and 12.3% year over year. The monthly increase was slightly down from the 1.8% rise recorded in March.

In light of the increasing number of natural disasters in recent years, the foundation commemorated its 20th anniversary by launching Hope Rising, “a campaign designed to ensure the foundation can respond to disasters as quickly and effectively as possible.”

The real estate investment and land asset-management company has identified 17 near-term development opportunities and is in advanced negotiations to develop build-to-rent communities with about 2,500 units across the country.

Denying a mortgage to a woman because she is on or plans to be on maternity leave is against the law, but some lenders are accused of doing just that.

The seasonally adjusted estimate of new houses for sale at the end of May was 330,000, representing a supply of 5.1 months at the current sales rate, the U.S. Census Bureau and the Department of Housing and Urban Development reported. 

The shortage of housing in America is more “dire” than previously expected, and the NAR’s new report puts pressure on lawmakers to provide additional public funding and policy incentives to fix this massive underbuilding gap.

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

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

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.

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

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. 

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.

The Worthing Cos. transferred its property-management division to RAM Partners, which will provide lease-up services on all Worthing-sponsored developments.

The new chief executive, Emily Traxler, is a certified customer success expert for tech startups and will take the company’s reins from founders Bernadine W. Drake and Glenn Drake.

The COVID pandemic has caused a shakeup in where, and how, many people work. That has helped propel a thriving housing market.