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The news comes after State Farm announced a similar move last month citing rapidly growing catastrophe exposure

The decision is due to increases in construction costs outpacing inflation, rapidly growing catastrophe exposure and a challenging reinsurance market

Even still, investors bought up 18 percent of homes that sold—down from a peak of 20 percent a year earlier

All 20 major metro markets reported month-over-month price increases, while posting a 1.1 percent annual decline

Month over month, contract signings improved in three U.S. regions but dropped in the Northeast

New projections from Zillow show sales would decrease sharply as mortgage costs balloon

Nationwide, the typical home costs an estimated 25 percent more per month to own than rent

The nine-county region had the largest sale price decline last month as six counties fell more than 10 percent year-over-year.

Year-to-date statewide home sales were down 37.4 percent last month