Real estate investors purchased approximately 19% of homes sold in the first quarter, including 26.1% of low-priced homes.
Single-family completions increased 15.4% on a month-over-month basis in April, according to the U.S. Census Bureau and Department of Housing and Urban Development.
As mortgage rates hovered above 7% for the past four weeks, builder confidence falls for the first time since November.
Construction input prices have increased 3.5% over the first four months of the year, according to the Bureau of Labor Statistics.
According to the Federal Reserve Bank of New York, renters’ self-assessed probability of ever owning a home decreased to the lowest share on record.
