The median sale price for a home rose to $360,250 during the four-week period ending Dec. 5, a gain of 14% from a year earlier, the report said.
Consumer sentiment rebounded this month from November’s one-decade low, according to a University of Michigan report.
Home-price growth in the third quarter increased the amount of tappable equity held by Americans to a record $9.41 billion, the report said.
Prices for detached single-family homes surged as people searched for low-density living quarters during the pandemic, CoreLogic said.
November’s shortfall in jobs creation “may deter the Fed from moving too quickly” to enact its bond tapering, Wells Fargo economists said.
Homeowners are turning to cash-out refinances after a record-setting advance in home values.
Mortgage rates fell from an 18-month high as the bond markets reacted to news about a new "variant of concern" in the Covid-19 pandemic.
A federal regular on Tuesday increased the size of mortgages eligible for backing by Fannie Mae and Freddie Mac after a record-setting surge in home prices.
The volume of signed contracts to purchase homes jumped as Americans rushed to secure financing before mortgage rates rose higher.
New-home sales in October rose to the highest level since April, according to a Commerce Department report.
