Housing Market News
Affordability
The Typical Homebuyer’s Down Payment Is $56,000, Up 24% From a Year Ago
Over one-third of home purchases in February were made in all cash—not far from the record high. The median down payment for U.S. homebuyers was
First-Time Buyers Must Make $76,000 to Afford the Typical U.S. Starter Home–Up 8% From a Year Ago
Buyers must earn nearly twice as much as before the pandemic to afford the typical starter home, due to the one-two punch of high prices
The Typical Household Earns Roughly $30,000 Less Than Needed to Afford the Median-Priced Home—But That’s an Improvement From Last Year
Buyers need to earn $114,000 to afford the typical U.S. home—35% more than the typical household makes. But that’s an improvement from October, when buyers
Redfin Home Price Index: Prices Rose 0.6% in February, Marking Return to Pre-Pandemic Norm
While mortgage rates remain elevated, they’re not as volatile as they were at the height of the pandemic, which has helped stabilize home price growth.
Majority of U.S. Homeowners and Renters Say Housing Affordability Affects Their Pick for President
Meanwhile, nearly two-thirds of respondents to a new Redfin survey say housing affordability makes them feel negative about the economy. More than half (53.2%) of
The U.S. Housing Market Gained $2 Trillion in Value Over the Last Year
The total value of U.S. homes jumped 5%, the biggest gain in nearly a year, as a shortage of houses for sale propped up values.
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%,
