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The national housing market recovery is ├â┬ó├óÔÇÜ┬¼├àÔÇ£in full swing,├â┬ó├óÔÇÜ┬¼├é┬Ø according to the June edition of RE/MAX├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós National Housing Report. The report, released Monday, revealed that May saw increases in both home sales and house median home price for 42 of the 53 surveyed metropolitan markets. For the fourth consecutive month, the RE/MAX report found an overall increase in median home price across the country. In May, the national median home price was $166,500, a 6.1 percent increase year-over-year, RE/MAX said.

Housing permits soared in May to their highest level since September 2008, surging 7.9 percent to 780,000, the Census Bureau and HUD reported jointly Tuesday, but housing starts dropped 4.8 percent to 708,000 giving back all of April's gains. At the same time, permits for April were revised upward to 723,000 from the originally reported 715,000. April housing starts were also revised to 744,000, up from the originally reported 717,000 percent drop. Surveyed economists expected increases in both areas.

Seeking to align the company's name with its expanded portfolio of valuation management services, Coester Appraisal Group has announced its new corporate title, CoesterVMS.

California-based CoreLogic will move forward with nominating three new board members to bolster its company directorship. The appointment of new board candidates follows CoreLogic's spring announcement that it would seek new members, and the company has selected Douglas C. Dorman, and Jaynie Miller Studenmund to stand for election.

Celebrity enclave, Malibu, California is losing a famous resident. Jim Carrey has listed his 2,866-square-foot estate in the star-studded Malibu Colony neighborhood for $13.95 million.

Builder confidence rose one point in in June to 29, its highest level since May 2007, the National Association of Home Builders reported Monday. The index for May, originally reported as 29 was revised down to 28. Economists had expected the index to be flat to the original report for May. The total index in June was up 16 points from June 2011, the strongest year-over-year gain since December 1998. The index has improved year-over-year for 12 straight months as it did from July 2009 through June 2010 before going into a five month swoon.

Canadian-based commercial real estate company Avison Young is bolstering leadership in the company's New York office. Finance expert David Eyzenberg has been added as a principal for Avison Young, and he will focus on raising capital and providing investment banking services for the company's clients.

Three bank failures took place Friday, raising the national tally this year to 31 as fewer community banks fall under, compared with recent years. State regulators shuttered Palakta, Florida-based Putnam State Bank, Marietta, Georgia-based Security Exchange Bank, and Lynchburg, Tennessee-based The Farmers Bank of Lynchburg. The cost to the FDIC: $100 million. With the bank failure tally at 31 this year, the numbers mark a gradual decline in the rate of closure for community banks compared with every year since the financial crisis.

The nation's housing developments need to grow up. There are many challenges to address: Support services to allow seniors to age in place, financing residential developments ranging from independent living facilities to nursing homes, creating affordable housing for low-income and low-net-worth seniors, and enabling older homeowners to tap accumulated equity. Fannie Mae's Economic & Strategic Research Group recently published a Data Note detailing the characteristics and housing consumption of the nation's elderly to get a clearer picture of the needs that must be addressed soon.

Standard & Poor's has reaffirmed Clayton Holdings LLC's standing as a third-party due diligence provider for residential mortgage-backed securities. The company's announcement follows S&P's annual review of the company's rating.