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
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
