Housing Market News
Affordability
Americans Have Gained $2 Trillion in Home Value During the Coronavirus Pandemic
The value of homes in the U.S. has surged 6.7% to $31.4 trillion since February despite skyrocketing unemployment triggered by the pandemic—further widening the wealth
In Areas at High Risk for Wildfires, Relative Affordability Lures Homebuyers
In the past eight years, the price difference between low-risk and high-risk areas has flipped—from a 2.5% premium in high-risk areas in 2012 to a
Condo Prices Climb 5.4% in August, Lagging 11.9% Growth for Single-Family Homes
Condos are facing relatively slow price growth as remote work, the desire for privacy and record-low mortgage rates make single-family homes more desirable during the coronavirus pandemic. But condos could make a comeback if single-family home prices continue to surge.
America’s Housing Shortage Is Intensifying During the Pandemic—Especially in Relatively Affordable Places Like San Antonio and Baltimore
Relatively affordable places including San Antonio and Baltimore have seen housing supply plummet, while San Francisco has experienced a flood of homes for sale as Americans flee dense, expensive cities
Homebuyers on a $2,500 Monthly Budget Can Afford $33,000 More With Low Mortgage Rates, But Higher Home Prices Cancel Out Increase
Historically low rates are motivating homebuyers even though prices were up 8.2% year over year in July, effectively cancelling out the increase in purchasing power.
A Quarter of San Francisco Home Sellers Are Dropping Their Prices, the Highest Rate on Record
San Francisco has seen a greater increase in price drops than any other U.S. metro, with the share of sellers slashing prices more than doubling from a year ago as the pandemic drives homebuyers out of the Bay Area.
Tariffs Push Mortgage Rates Down, Upping Homebuyers’ Purchasing Power While Amping Economic Uncertainty
Mortgage rates have dropped to their lowest level in six months in the aftermath of President Trump’s newly announced tariffs. For weary homebuyers who have
68% of Condos Sold Below List Price in February—the Highest Share in 5 Years
The condo market has been slowing due to surging insurance costs and HOA fees, which have priced many buyers out. It has also become more
Big City Comeback: Homebuyer Competition Is Rising Fastest in the Bay Area, New York
57% of homes in San Francisco sold above their list price in February, up from 50% a year earlier—the biggest jump among the top 50
Gen Z and Millennial Homeownership Rates Flatlined in 2024 As Housing Costs Soared
Young Americans are also tracking behind their parents’ generations; for instance, 33% of 27-year-olds own their home today, compared to 40% of baby boomers when
The Typical U.S. Homeowner Stays Put For 11.8 Years. In Parts of California, It’s Closer to 20 Years.
The typical Los Angeles homeowner stays put for 19.4 years, longer than any other U.S. metro and the longest span on record for the area.
America’s Wealthiest 1% Could Buy 99% of America’s Homes
The combined net worth of America’s wealthiest 1% has grown to a record $49.2 trillion, almost the same as the combined value of all the
