Housing Market News
Affordability
Monthly Mortgage Payments Are Falling in 12 of the 50 Most Populous U.S. Metros, Mostly in the Bay Area, Florida and Texas
Monthly mortgage payments are declining in some parts of the country as homebuying demand slows amid widespread economic uncertainty. The silver lining for buyers in
The Typical Home Seller Wants $39,000 More Than the Typical Buyer Is Willing to Pay
The $469,729 median asking price is 9% higher than the $431,057 median sale price—the largest gap since 2020. Market dynamics have shifted in favor of
U.S. Home Prices Ticked Up 0.2% in March, the Slowest Pace Since 2022
Home prices ticked up 0.2% month over month in March, the slowest pace since December 2022. On a year-over-year basis, home prices rose 4.6%, down
44% of Home Sellers Are Giving Concessions to Buyers—Just Shy of the Highest Level on Record
More sellers are offering concessions as rising housing costs and economic uncertainty make buyers nervous, and housing supply hits a five-year high. In Seattle, 71%
Homebuyers Need to Earn Over $50,000 More Than Renters to Afford Monthly Payments—And the Gap Is Widening
Americans need an annual income of $117,000 to afford the typical home for sale. That’s 82% more than they need for the typical rental, up
1 in 5 Homebuyers Expect to Sell Stocks to Fund Down Payment: Redfin Survey
Homebuyers are more likely than renters to use stock investments to pay for housing, according to a Redfin survey. With stock values dropping, would-be homebuyers
A Homebuyer on a $3K Budget Has Gained $22K in Purchasing Power Since June As Rates Drop to Lowest Level in 11 Months
Purchasing power has increased $7,500 in the last week alone, with rates falling to 6.3% on a weak August jobs report. The daily average mortgage
U.S. Homeowner Population Stops Growing for First Time in Nearly a Decade
The number of homeowner households fell 0.1% year over year in the second quarter—a small decline, but the first since 2016. Meanwhile, the number of
U.S. Housing Costs to Return to ‘Normal’ by 2030 With Stable Price Growth and Moderately Lower Rates
This year, the U.S. housing market has been described as “a nightmare,” “very unusual” and “alarming,” along with expletives we can’t write here. And with
Homebuyers Have Been Retreating. Now Sellers Are Too.
There are an estimated 1.43 million homebuyers in the U.S. housing market—the lowest level in records dating back to 2013 aside from the start of
The Mortgage Spread Has Dropped to a 3-Year Low. That’s Good News For Homebuyers and Refinancers.
The difference between mortgage rates and the 10-year treasury yield has narrowed, signaling a potential boost for homebuyers. A decrease in the mortgage spread can
Avocado Toast No More: Struggling Young Renters Forego Restaurants, Skip Meals to Afford Rent
But there are bright spots emerging on the affordability horizon, which could make it easier for young Americans to afford housing in the near future.
