Markets & Economy

Real estate market recap, May 25-29

The big news in real estate markets, recapped for your convenience

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

Here's what happened this week in the real estate market: The latest results for the S&P/Case-Shiller Home Price Indices showed year-over-year March increases in both the 10-City Composite (4.7 percent) and 20-City Composite (5.0 percent). The national home price index showed a 4.1 percent annual gain in March, and the national index also increased by 0.8 percent month-over-month in March. Sales of new single-family houses in April rose 26.1 percent year over year to a seasonally adjusted annual rate of 517,000, according to a report jointly released by the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. On a monthly basis, they increased 6.8 percent in April from a revised March rate of 484,000. The median sales price of new houses sold in April was $297,300. At the end of April, the seasonally adjusted estimate of new houses for sale was 205,000, representing a supply of 4.8 months at the current sales rate. Zillow Mortgages nu...