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
A Homebuyer on a $3K Budget Has Gained $22K in Purchasing Power Since June As Rates Drop to Lowest Level in 11 Months
Purchasing power has increased $7,500 in the last week alone, with rates falling to 6.3% on a weak August jobs report. The daily average mortgage
U.S. Homeowner Population Stops Growing for First Time in Nearly a Decade
The number of homeowner households fell 0.1% year over year in the second quarter—a small decline, but the first since 2016. Meanwhile, the number of
U.S. Housing Costs to Return to ‘Normal’ by 2030 With Stable Price Growth and Moderately Lower Rates
This year, the U.S. housing market has been described as “a nightmare,” “very unusual” and “alarming,” along with expletives we can’t write here. And with
Homebuyers Have Been Retreating. Now Sellers Are Too.
There are an estimated 1.43 million homebuyers in the U.S. housing market—the lowest level in records dating back to 2013 aside from the start of
The Mortgage Spread Has Dropped to a 3-Year Low. That’s Good News For Homebuyers and Refinancers.
The difference between mortgage rates and the 10-year treasury yield has narrowed, signaling a potential boost for homebuyers. A decrease in the mortgage spread can
Avocado Toast No More: Struggling Young Renters Forego Restaurants, Skip Meals to Afford Rent
But there are bright spots emerging on the affordability horizon, which could make it easier for young Americans to afford housing in the near future.
