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,
The Suburbs of St. Louis Are the Most Affordable Place in the U.S. to Buy a Home
The Midwest and South are home to a majority of the country’s most affordable cities. A typical household in Bellefontaine Neighbors, MO, a St. Louis
Starter-Home Sales Climb 5%, But Prices Stay in Check as Inventory Hits 9-Year High
Starter-home sales rose 4.9% year over year, increasing for the 14th consecutive month. In comparison, sales of mid-priced homes inched up 0.7%, and high-priced home
15% of Home Purchases Fell Through in October, Up Slightly From a Year Earlier
Homebuyers are getting cold feet due to high housing costs and economic uncertainty. Many are convinced they’ll be able to find a home they like
Typical Retail Worker Earns $37,000 Less Than Needed to Afford Typical Apartment
The typical retail worker earns $34,000 per year, or 52% less than they would need to afford the typical apartment. Rental affordability has improved slightly
The Housing Affordability Crisis Is Accelerating Fastest in Rural America
Rural homebuyers need to earn $75,000 to afford the typical home, up from $36,000 before the pandemic. Suburban and urban areas have also seen affordability
It’s the Strongest Buyer’s Market in Records Dating Back Over a Decade
Home sellers outnumbered buyers by a record 36.8% in October, giving buyers who were in the market room to negotiate. The number of buyers in
