Housing Market News
Affordability
U.S. Homeowners Have Lost $2.3 Trillion in Value Since June Peak
The Bay Area housing market has lost more value in percentage terms than anywhere else in the country amid sluggish demand. Florida continues to see
Austin Homebuyers Need 27% More Income Than a Year Ago Despite Drop in Prices
The typical Austin home costs six figures less than it did during the pandemic homebuying frenzy, but 6%-plus mortgage rates mean housing remains unaffordable for
Homebuyers Are Grappling With the Most Volatile Mortgage Rates in Over Three Decades
A house hunter looking for a $500,000 home saw their potential total mortgage payment fall by $64,000 from July to August, and then jump by
85% of Homeowners with Mortgages Have a Rate Far Below Today’s Level, a Factor Prompting Many to Stay Put
Some Americans are hesitant to sell their homes as mortgage rates soar because they have a low interest rate locked in. That’s contributing to a
Homebuyers Can Save Over $15,000 in Five Years With an Adjustable-Rate Mortgage–But It Comes With Risks
That’s $260 per month for the typical homebuyer—the largest savings since at least 2015. As mortgage rates surge, demand for adjustable-rate mortgages is on the
Nearly One-Third of Homeowners Have a Mortgage Rate Far Below Today’s Level, Prompting Some to Stay Put
With mortgage rates surging, some homeowners who would otherwise be selling are staying put, as moving could mean losing their ultra-low rate and getting stuck
Bay Area Homebuyers Stand to Save Thousands on Monthly Payments Following Mortgage-Rate Decline
Mortgage rates have fallen to 6.1% from over 7% in the spring, pushing housing payments down by thousands of dollars in the Bay Area and
Buying a Home Just Got More Affordable for the First Time Since 2020
Buyers need to earn $115,000 to afford the typical U.S. home, down 1% year over year. That’s the first annual decline since 2020, thanks to
U.S. Home Prices Rose 0.5% in August, the Biggest Increase in 4 Months
Home prices grew 0.5% month over month in August, the fastest pace since April. On a year-over-year basis, home prices rose 6.7%, the smallest annual
Asking Rents Rose the Most in Over a Year in August, But Remain Below Record Highs Hit Two Years Earlier
The median asking rent climbed for the fifth consecutive month, up 0.9% year over year to $1,645. Rents dropped 17.9% in Austin—more than any other
The Typical College Grad in the Bay Area Can Afford Rent If They Have a Roommate. A Year Ago, They Couldn’t.
In San Jose, the typical recent grad would need to spend 28% of their income to rent the median priced 2 bedroom apartment with a
Florida and Texas Condo Supply is Piling Up As Sales Slow Amid High HOA, Insurance Costs
Condo inventory is soaring and pending sales are dropping in major Florida and Texas metros like Miami, Jacksonville, Austin and San Antonio, causing prices to
