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
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.
