Housing Market News
Affordability
Homebuyers Hold the Negotiating Power In 38 Major Metros, Up From 29 Last Year
Nationally, sellers outnumber buyers by 43%—just shy of the largest gap in records dating back to 2013. When sellers outnumber buyers, the buyers who are
A Record 34% of February Home Sellers Cut Their List Price
February home sellers who cut their price lowered it by $41,000, on average, or 7.3%. Home sellers in Texas and Florida were most likely to
Cleveland Remains a Beacon of Affordability for Homebuyers
As many Americans consider buying a home this spring, they may want to take a closer look at the Cleveland metro area. Not only is
U.S. Home Prices Barely Budged in February
Home prices rose 0.1% month over month on a seasonally adjusted basis—the slowest growth in seven months. Prices fell in 16 major metros, with the
There Are 630,000 More Home Sellers Than Buyers—the Biggest Gap on Record
When sellers outnumber buyers, the buyers who are in the market have bargaining power. In other words, it’s a buyer’s market. The strongest buyer’s markets
The Top 20% of Earners Hold Nearly 60% of America’s Real Estate Wealth
By comparison, the bottom 20% of U.S. earners hold just 5% of real estate wealth. The top 1% of earners in America hold 12.7% of
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%,
