The deal for Resource is expected to close in the second quarter.

Residential starts rose 1.4 percent to a 1.70 annualized rate. Applications to build jumped 9.1 percent to an annualized 1.87 million units in December.

Homes priced between $800,000 and $1 million saw the highest rate of bidding wars in December, according to Redfin data.

Mayor Steve Adler doesn’t want to curb the city’s rapid growth, but says cheaper housing is needed.

The former president said in a statement that he plans to apply to build the homes as well as retail and commercial space at Trump National Doral Miami.

Sunbelt cities posted the highest inflation rates in the nation in December, reaching into the double digits.

Investors are rushing to buy downtown apartment properties in the biggest cities in the U.S.

Deals by institutional investors and home flippers helped push up U.S. house prices by more than 20 percent, Moody’s analysis shows.

The fund aims to raise $1 billion in equity for investments in 30 of the largest U.S. cities.

The bank’s co-head of global private wealth management sees opportunities in financial, energy and health-care shares, as well as multi-family real estate.