• According to the National Association of REALTORS, sales of existing homes rose to the fastest pace in more than nine years and prices climbed to a new high in May.
• The current upcycle the housing market is in should continue for at least two more years, according to the 2016 U.S. Housing Forum report from Fitch Ratings.
• First-time homebuyers accounted for 40.8 percent of home purchases in May, according to the Campbell/Inside Mortgage Finance HousingPulse Tracking Survey. This is the highest level seen in more than five years.
• The Conference Board Consumer Confidence Index improved in June, and now stands at 98.0.
• Housing affordability is improving compared to a year ago in the majority of markets, according to RealtyTrac.
