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
17% of Homeowners With Mortgages Have an Interest Rate of at Least 6%, the Highest Share in Nearly a Decade
Most homeowners still have a mortgage rate far below today’s levels, which is prompting many to stay put. But this lock-in effect is starting to
Nearly 70% of Single People Struggle to Afford Housing Payments, Compared to 52% of Married People
Single and divorced people are more likely than people who are married to make certain sacrifices, including skipping meals, to afford rent and mortgage payments,
U.S. Home Prices Rose 0.4% in December
Home prices grew 0.4% month over month in December, rising at a slightly slower pace than the past four months. On a year-over-year basis, home
Home Prices Are Rising in Every Major Metro for the First Time Since 2022
In Cleveland, prices jumped 15% year over year in December—the biggest increase among the 50 most populous metros. Next came Milwaukee and Philadelphia. Florida is
Housing Affordability Didn’t Worsen in 2024—The First Time in Four Years That Has Happened
A household earning the median U.S. income would have had to spend 41.8% of their earnings on monthly housing costs to buy the typical home
U.S. Home Prices Rose 0.5% in November
Home prices grew 0.5% month over month in November, the third consecutive month with a 0.5% increase. On a year-over-year basis, home prices rose 5.7%,
