1.U.S. banks’ net income down from a year ago
“FORTUNE — Net income for all banks fell in the first quarter of 2014 as mortgage and trading revenue slid, according to data from the Federal Deposit Insurance Company (FDIC).”
2.Home prices remain on the rise
“U.S. home prices remain on the upswing at the start of 2014, as a slow recovery from the bust that led to the financial crisis continues.”
3.Mortgage Applications Decrease Slightly in Latest MBA Weekly Survey
“Mortgage applications decreased 1.2 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending May 23, 2014. “
4.Homeseller Reluctance Worsens U.S. Inventory Shortage
“Jaimie Adler said it’s getting cramped in the Lexington, Massachusetts, house she shares with her husband, two daughters and an au pair who occupies the former office. They’d sell, Adler said, if more homes were on the market in the Boston suburb. “
5.Redfin: Portland loves its luxe homes
“While local home sales may be stalled — largely because of a supply shortage —one end of the market is going gangbusters.”
6.How to spot a real estate bubble, or why I’m comfortable buying
“Inventory is low, and prices are relatively high. Some properties I’ve looked at within Loop 610 have appreciated 50 percent in the last two years.”
7.California employment may reach pre-recession levels by July
“The California economy is strengthening and will reach a major recovery milestone this quarter as non-farm payroll employment reaches its pre-recession, 2007 peak of 15.4 million jobs, according to the latest projection from the Business Forecasting Center at the University of the Pacific. “
8.Stockton leads nation in home price increases
“The Stockton-Lodi metropolitan area in the Central Valley has seen a 41.8 percent increase in the median price of homes on the market in the past year, according to a report Wednesday from realtor.com, a unit of Move Inc. (NASDAQ: MOVE) of San Jose.”
9.San Fernando Valley housing market makes gains
“The San Fernando Valley’s housing market scored a trifecta in April with the median price, sales and inventory all increasing from the prior month, according to the Southland Regional Association of Realtors.”