Housing Market News
Affordability
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
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%,
