The Columbus Board of Realtors reported, Central Ohio home sales made a comeback in May after slowing in April, jumping 14.4% from a year ago.

Many home sellers admit they overestimated the U.S. housing market, which has begun cooling after five years of record-breaking sales and double-digit price appreciation.

The federal government reported yesterday that the construction of new homes rose in May, bouncing back from a disappointing April.

An industry trade group said on Wednesday that U.S. mortgage applications fell slightly last week. This was driven by a decline in home refinancing loans as interest rates hit the highest in four years. Celia Chen, director of housing economics at Moody's Economy.com, a consulting firm, said last week's drop in applications adds support to the view that rising interest rates are increasingly weighing on the U.S. housing sector.

Hulk Hogan recently placed his mansion near Tampa on the market for a whopping $25 million. He moved his family to Miami Beach.

There is a higher chance that China will announce rules this month aimed at curbing foreign investment in real estate. This projection was according to Lin Zheying, deputy director general of the commerce ministry's Foreign Investment Administration.