Housing Market News
Affordability
The Typical Buyer’s Down Payment Is 16% of the Home’s Price
That’s up from 15% a year ago. The typical U.S. homebuyer now puts down roughly $63,000, about $4,000 more than last year, because of a
Mortgage Rates Drop to Their Lowest Level in 2 Months, Upping Purchasing Power and Giving Homebuyers Window of Opportunity
The increase in purchasing power is modest, but along with a pileup of housing supply in some parts of the country, it marks an opportunity
U.S. Housing Market Gained $2.5 Trillion in Value in 2024
The combined value of U.S. homes climbed to $49.7 trillion in 2024. The total value of homes owned by millennials grew to nearly $10 trillion,
It’s a Buyer’s Market. For Many Homebuyers, It Doesn’t Feel Like It.
There were 3.7 months of for-sale supply on the market in January, the most in six years. An increase in supply and drop in homebuying
U.S. Home Prices Grew 0.6% in January
Home prices grew 0.6% month over month in January, equal to the quickest pace since November 2023. On a year-over-year basis, home prices rose 5.4%—the
The Typical Homebuyer Pays Roughly 2% Less than the List Price–The Biggest Discount in 2 Years
Homebuyers, take note: Many listings are selling for under asking price, and most are lingering on the market. Florida homebuyers are seeing the biggest discount.
Homebuyers Must Earn Nearly $80,000 to Afford the Typical U.S. Starter Home, Just Shy of the All-Time High
Homebuyers need to earn roughly $80,000 to afford the median-priced starter home, up 4.4% from last summer and only about $500 below the all-time high.
The Typical Homebuyer’s Down Payment is a Record $67,500, Up 15% From a Year Ago
The typical homebuyer put down 18.6% of the purchase price, up from 15% a year ago. Nearly 3 in 5 homebuyers put down more than
6 of Every 7 People With Mortgages Have an Interest Rate Below 6%, But the Lock-In Effect Is Starting to Ease
The mortgage rate lock-in effect is prompting many homeowners to stay put, contributing to America’s housing shortage. But the lock-in effect is slowly easing because
Starter Homes Emerge as Bright Spot as Mortgage Rates Settle Near 15-Month Low
Pending starter home sales grew 10% in July year over year, while other price brackets fell. The median price for a U.S. starter home climbed
Condo HOA Fees Surge in Florida Amid Insurance Crisis
HOA dues are up more than 15% from a year ago in Tampa, Orlando and Fort Lauderdale, compared with a median gain of 6% across
U.S. Home Prices Tick Up 0.2% for the Second Month in a Row
Home prices grew 0.2% in July, equal to the slowest pace since January 2023. Twenty of the 50 most populous U.S. metros recorded a drop
