Housing Market News
Affordability
There Are Now Only 5 Major Metros Where A Typical Luxury Home Costs Less Than $1 Million
The number of major metros where you can buy a luxury home for less than $1 million is down to five from eight last year.
The Income Needed to Afford a Home Declined For Seventh Straight Month in April
Homebuying affordability improved slightly in April because mortgage rates declined while incomes rose. Still, the income required to afford a home was $29,000 higher than
U.S. Home Prices Rose 0.2% in April
Improving homebuyer demand could fuel further price gains in the coming months. Montgomery County, PA saw the biggest price gain, followed by Cleveland and Nassau
America’s Housing Market Favors Buyers—But Their Advantage Is Finally Starting to Shrink
There were an estimated 47% more sellers than buyers in April, down from 48% the month before and a peak of 49% at the end
Bay Area Luxury Home Prices Have Jumped 13% Since Launch of ChatGPT
Home prices during the AI boom have surged far faster in the Bay Area’s luxury zip codes than its non luxury zip codes—a split not
Room to Grow: Here’s Where Gen Zers Own the Largest Share of 3+ Bedroom Homes
Salt Lake City is the U.S. metro where Gen Z adults own the highest share (3.6%) of homes with three or more bedrooms. Virginia Beach,
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%,
