“Contract signings to buy a home will keep tumbling down as long as mortgage rates keep climbing, as has happened this year to date.” — National Association of Realtors chief economist Lawrence Yun  

Matching June’s historic move, the Federal Reserve announced that interest rates are rising .75%. The target range for the federal funds rate now sits between 2.25% and 2.5%.

“Housing data for May 2022 continued strong, as price gains decelerated slightly from very high levels,” Craig J. Lazzara, managing director at S&P DJI, said.

At the same time, the inventory of new homes for sale rose 10.7%, the U.S. Census Bureau and the U.S. Department of Housing and Urban Development reported.

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.  

Real Estate Consulting ranks the top-selling master-planned communities in the first half of 2022, and Westlake in West Palm Beach is No. 31. 

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. 

Nelson Gonzalez of Berkshire Hathaway HomeServices WEM Realty in Miami Beach was the No. 1 individual agent by volume.

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

Talk about a detached home. Floating out in the United Kingdom’s Humber Estuary is Bull Sands Fort: a military sanctuary designed during the first World War.

Elliman Showroom is a personal assistant platform that aims to streamline the move-in process for homebuyers.

About 14.9% of home-purchase agreements nationwide fell through in June, the highest percentage in more than two years.

Actor Christian Slater is selling his Coconut Grove home which features a rooftop terrace and detached suite for hosting family or friends.

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 tool takes the guesswork out of the home-shopping process by highlighting condos eligible for Veterans Affairs (VA) financing.