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There are few more concrete examples of supply-and-demand economics in action than the housing market. A new report looking at April numbers shows a spike in demand and a corresponding spike in median prices. The B-side, of course, is that while demand rises, inventory shrinks, fueling the current sellers’ market.

Maryland Governor Larry Hogan signed a fast-track foreclosure law that will expedite the foreclosure process with the intent to reduce community blight, following the footsteps of a similar bill in Ohio. This bill could be the push other states need to move forward with their own fast track foreclosure bills. We hear from industry experts on the impact this bill may have.

Existing home sales took a drop in April as prospective buyers and middle-income homeowners faced problems in the current housing market. Tightening supply continues to drive up prices. Properties, on average, stayed on the market for a month.

The Court of Appeals rehearing of the Consumer Financial Protection Bureau (CFPB) took place Wednesday to determine the constitutionality of CFPB’s leadership structure. Previously brought by PHH Corporation in October, the initial decision by the court determined the CFPB was, in fact, unconstitutional. Wednesday’s hearing was an “en banc” review, previously agreed upon in February.

Potential home sales fell by 0.2 percent to 5.69 million in April, according to a recent study. This represents an 89.3 percent increase from the market potential low point reached in December 2008. What the study found is that strong consumer demand fueled gains in market potential for existing home sales, but this was offset by high prices and falling affordability.

Several HUD programs are slated to be cut according to the recent budget proposal, including the Community Development Block Grant (CDBG) Program. According to HUD, the CDBG Program has not been effectively targeting the poorest communities and has not demonstrated a measurable impact on communities. Other programs are to be cut due as HUD states that State and local governments are better-positioned to serve their communities’ needs in place of these programs.

New residential sales statistics came out Tuesday from the U.S. Census Bureau and the U.S. Department of Housing and Urban Development. According to the National Association of Realtors (NAR), the drop in new home sales for April could be worrisome for first time and low-income homebuyers as inventory shortage is likely to cause the price of new homes to rise more than it has previously. As it stands, newcomers to home buying will continue to face financial and availability challenges.

Fidelity National Financial (FNF) announced the acquisition of Hudson & Marshall (H&M), a full-service auction company, Monday. Industry reaction was instantaneous, as was a jump in FNF’s stock. Under FNF’s umbrella, ServiceLink, a provider of transaction services to the mortgage and finance industries, is launching ServiceLink Auction, a full-service auction platform that will provide foreclosure and REO auction services fully integrated with ServiceLink’s suite of products.

According to a recent report, if American homeowners moved at the same rate they did in 1990, there would have been about 2.8 million more homes sold in 2016. This would solve the ongoing inventory problem, but the fact is Americans just aren’t moving, for a number of reasons. The report cites three possible reasons for a non-moving population: an aging population, pockets of high negative equity, and an increase in single-family rentals.

Cities are starting to run out of space. Especially space-constrained cities like New York have started to run out of room for builders, leading them to move to city-center areas where high-density building is allowed, and charging much higher prices for it. Builders are focusin more on high end apartments with better profit margins, leaving only the wealthiest residents as the ones who can buy.