Home flippers reported more gains in 2013 than in any year on record, according to national real estate brokerage Redfin. The average home flipped last year was sold for $90,200 more than it was purchased, and in 11 of the 30 markets Redfin analyzed, flippers received gains of more than $100,000 per house. Redfin considers flipping the act of purchasing and then reselling a home within 12 months.

Cash sales declined year-over-year in Q1 in 102 of the 126 metro areas Zillow observes. "[I]t's heartening to see more buyers armed with traditional financing begin to enter the market," said Stan Humphries, chief economist at Zillow. "This is a critical step on the way back to a more normal, balanced housing market." Despite the recent trend, "it's pretty clear that cash is still king, especially at the lower end of the market," according to Humphries.

The University of Michigan's measure of consumer sentiment dropped from 81.9 to 81.2 in June with the decline entirely spurred by a decline in the expectations index. While expectations turned slightly sour in June, the current conditions index experienced an increase from 94.5 to 95.4.

New Jersey-based Stonebridge Title Services has been ordered to pay $30,000 for allegedly offering kickbacks for business referrals, the Consumer Financial Protection Bureau (CFPB) announced. "Kickbacks drive up the costs of getting a mortgage and put law-abiding companies at a disadvantage," said CFPB Director Richard Cordray with the release of the bureau's consent order.

Purchase loans made up 63 percent of originations in April, up from 60 percent a month earlier and significantly higher than last year, according to the latest report from Ellie Mae. Jonathan Corr, Ellie Mae's president and COO, noted it was the highest share of purchase loans the company has recorded since it began reporting data in August 2011.

Despite disappointing home sales in the first quarter of the year as winter storms took their toll, home prices increased 1.3 percent over the first three months of the year on a seasonally-adjusted basis for the purchase-only market, according to the Federal Housing Finance Agency (FHFA). FHFA's principal economist, Andrew Leventis, cited "modest inventories of homes available for sale" as a major factor in the first-quarter increase.

Home prices have risen in Florida for 29 consecutive months as of April, according to Florida Realtors. At the same time, new listings and inventory are on the rise. "We continue to see the development of a sustainable market here in Florida," said John Tuccillo, chief economist for Florida Realtors, adding, "The numbers all suggest a balanced market."

Prices rose 9 percent year-over-year for the first quarter of this year, according to FNC, Inc.'s Residential Price Index, which measures sales activity for non-distressed homes in the 100 largest metros in the country. On a monthly basis, prices rose 0.6 percent in March. On an annual basis, Western states continue to lead the nation with drastic price gains.

As home sellers become more confident in the housing market, many are taking on what Redfin calls a “risky pricing strategy,” according to the online real estate brokerage’s latest survey. A little more than 40 percent of home sellers plan to price their homes above market value, Redfin’s data shows. Regardless of this bolstered confidence, Redfin warns overpricing a home is not a wise strategy in today’s market.

Single-family home sales in Connecticut increased year-over-year in March, marking the 11th consecutive annual increase, according to the Warren Group. Meanwhile, the state’s median home price experienced its first downward slide since June 2012. However, Timothy M. Warren Jr., CEO of the Warren Group, called March’s price drop “an aberration of data and not the start of a new trend.”