Off-market real estate app DropOffer is moving into six new markets, including Phoenix, Atlanta, Houston, Dallas, Charlotte and Tampa.

The pace of housing starts for both single-family and multifamily residences was down on a month over month basis, the U.S. Department of Housing and Urban Development reported. 

The NAHB/Wells Fargo Housing Market Index fell for the eighth straight month in August, as the key measure of builder confidence indicated a pessimistic outlook. 

The brokerage’s new “communities” will provide its agents with specialized training, technology, coaching and referral opportunities. 

Sellers using Zillow may request and view an offer directly from Opendoor and compare it to an open-market sale with a real estate agent. 

The national rental vacancy rate dropped to 5.6% in the second quarter of the year while the homeowner vacancy rate remained at 0.8%.

The platform is led in part by Josh Altman of Million Dollar Listing fame and says it will economize time and save agents marketing dollars.

Home prices were up 26.1% in Phoenix on a year-over-year basis, compared to 18.3% nationwide, CoreLogic reported, citing its Home Price Index. 

“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  

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.  

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. 

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

The National Association of Hispanic Real Estate Professionals released its Top 250 Latino Agents Report, and several Arizona agents made the list.  

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