Housing Market News
Affordability
Bay Area Homebuyers Stand to Save Thousands on Monthly Payments Following Mortgage-Rate Decline
Mortgage rates have fallen to 6.1% from over 7% in the spring, pushing housing payments down by thousands of dollars in the Bay Area and
Buying a Home Just Got More Affordable for the First Time Since 2020
Buyers need to earn $115,000 to afford the typical U.S. home, down 1% year over year. That’s the first annual decline since 2020, thanks to
U.S. Home Prices Rose 0.5% in August, the Biggest Increase in 4 Months
Home prices grew 0.5% month over month in August, the fastest pace since April. On a year-over-year basis, home prices rose 6.7%, the smallest annual
Asking Rents Rose the Most in Over a Year in August, But Remain Below Record Highs Hit Two Years Earlier
The median asking rent climbed for the fifth consecutive month, up 0.9% year over year to $1,645. Rents dropped 17.9% in Austin—more than any other
The Typical College Grad in the Bay Area Can Afford Rent If They Have a Roommate. A Year Ago, They Couldn’t.
In San Jose, the typical recent grad would need to spend 28% of their income to rent the median priced 2 bedroom apartment with a
Florida and Texas Condo Supply is Piling Up As Sales Slow Amid High HOA, Insurance Costs
Condo inventory is soaring and pending sales are dropping in major Florida and Texas metros like Miami, Jacksonville, Austin and San Antonio, causing prices to
Home Purchases Are Getting Canceled at a Record Rate
15% of home purchases fell through last month—the highest July rate on record—as high homebuying costs made buyers skittish. Cancellations were most common in Texas
Milwaukee Is Holding Up Better Than Any Other Major U.S. Housing Market, Las Vegas is Cooling the Fastest
The majority of America’s most resilient housing markets are located in the Rust Belt and are seeing an increase in home sales and prices. The
Homebuying Affordability Is Improving in These 11 Places
The income needed to afford the typical U.S. home has fallen year over year in almost a dozen major metros, most of which are Sun
Mortgage Rates Drop to Lowest Level in 10 Months, Upping Purchasing Power in a Buyer-Friendly Market
Redfin economists say the recent dip in mortgage rates gives serious house hunters a window of opportunity to lock in a lower monthly housing payment.
Nepo-Homebuyers: Aside from Paychecks, Family Money Is the Most Common Source of Young People’s Down Payments
Nearly one-quarter of Gen Zers and millennials who recently bought a home used either a cash gift from family or an inheritance to help fund
Homebuyers Gain $16,000 in Purchasing Power As Mortgage Rates Dip to Lowest Level in 3 Months
The daily average mortgage rate dipped to 6.67% to start July, down from roughly 7.1% five weeks earlier. On-the-fence house hunters should consider jumping in
