Housing Market News
Affordability
Home Prices Keep Climbing, But at Slowest Pace Since Early 2023
Home prices grew 0.2% in June, the slowest pace since January 2023. Home price growth slowed in June for the fourth consecutive month. Falling mortgage
In Swing States, Typical Homebuyer’s Monthly Payment Has Nearly Doubled Since The Last Presidential Election
Swing-state housing payments have nearly doubled since the 2020 election, as home prices and mortgage rates have soared. To look at affordability another way, the
Falling Mortgage Rates, Rising Supply Create Opportunity for Homebuyers This Summer, Even Amid Record-High Prices
Homebuyers on a $3,000 monthly budget have gained over $20,000 in purchasing power since mortgage rates peaked in the spring. House hunters who have been
Renters Must Earn $66,120 to Afford the Typical U.S. Apartment. The Typical Renter Makes $11,000 Less Than That.
Just 39% of renters make enough to afford the median-priced apartment. The income renters need to afford the typical apartment is the highest since 2022
U.S. Home Prices Are Rising at the Slowest Pace in Nearly a Year and a Half
Home prices rose 0.3% in May. Price growth is slowing thanks to a small uptick in new listings as elevated mortgage rates keep buyers at
Housing Affordability Is Gen Z’s Top Voting Issue, Outweighing Abortion Rights and the Economy: Redfin Survey
Millennials, Gen Xers and baby boomers all ranked the overall economy as the top issue in their presidential pick. Preserving democracy was more likely than
The Typical Buyer’s Down Payment Is 16% of the Home’s Price
That’s up from 15% a year ago. The typical U.S. homebuyer now puts down roughly $63,000, about $4,000 more than last year, because of a
Mortgage Rates Drop to Their Lowest Level in 2 Months, Upping Purchasing Power and Giving Homebuyers Window of Opportunity
The increase in purchasing power is modest, but along with a pileup of housing supply in some parts of the country, it marks an opportunity
U.S. Housing Market Gained $2.5 Trillion in Value in 2024
The combined value of U.S. homes climbed to $49.7 trillion in 2024. The total value of homes owned by millennials grew to nearly $10 trillion,
It’s a Buyer’s Market. For Many Homebuyers, It Doesn’t Feel Like It.
There were 3.7 months of for-sale supply on the market in January, the most in six years. An increase in supply and drop in homebuying
U.S. Home Prices Grew 0.6% in January
Home prices grew 0.6% month over month in January, equal to the quickest pace since November 2023. On a year-over-year basis, home prices rose 5.4%—the
The Typical Homebuyer Pays Roughly 2% Less than the List Price–The Biggest Discount in 2 Years
Homebuyers, take note: Many listings are selling for under asking price, and most are lingering on the market. Florida homebuyers are seeing the biggest discount.
