Housing Market News
Affordability
Homebuyer Interest in Rural Areas Rises, With Prices Up 11% in July
There’s more demand—and less supply—for rural and suburban neighborhoods than cities as the pandemic influences homebuyer preferences. Still, prices are up 6.7% in urban areas.
Homeownership Hits Highest Level Since 2008 Driven by Younger, First-Time Buyers
Many renters who were planning a purchase in the next few years, have opted to go ahead and buy now given historically low rates.
Prices of Affordable Homes Have Jumped 5.5% During the Pandemic
Prices of the most affordable third of homes in the U.S. climbed 5.5% year over year during the 12 weeks ending May 31, while prices of the most expensive third of homes increased just 2%.
Shortfall in New Supply of Homes for Sale Felt Most Acutely at the High End
Between mid-March and mid-April, the new supply of homes for sale over $1 million fell 29 points from the year prior.
Homebuyers Confront Credit Crunch as Coronavirus Puts Lenders on Edge
As the coronavirus pandemic sends shockwaves through the U.S. economy, banks are fighting financial uncertainty with stricter mortgage lending requirements, making it harder for house hunters to get their hands on home loans.
Stimulus Checks and Housing: How Far $1,200 Goes for Homeowners and Renters Across the US
More than three-quarters of US renters could pay one month’s worth of housing expenses with $1,200, compared with nearly half of homeowners.
Baby, You’re Expensive!
The average cost of a baby’s first year in the U.S. is about $26,000 if you upgrade your home, use daycare, have insurance and buy the things parents buy.
