Housing Market News
Affordability
California Fails the Affordability Test for Teachers
17 percent of California homes for sale are affordable on the average teacher salary
Affordability Is Homebuyers’ Biggest Concern, Particularly Among Millennials
A Redfin survey of more than 1,800 buyers revealed that many were driven to the market by high rent, even as homebuyers’ biggest concern was affordability.
Homebuyers’ Biggest Worries Are Cost and Competition
A Redfin survey finds that high prices, bidding wars, and an expensive rental market are top-of-mind for homebuyers this spring.
Mortgage Rates Are Low, So Why Aren’t Homes Affordable? The Conundrum of Cheap Money
It’s never been cheaper to borrow money. That’s made homeownership more affordable, but not nearly as much as you’d think.
Student Debt And Millennial Homeowners—Maybe They Can Live Together After All
The numbers challenge conventional wisdom that college grads with loans aren’t buying houses
One in Four Homebuyers Cites High Rent as Reason for Buying
One in four homebuyers is looking to purchase because their rent is too high, according to a Redfin survey of 750 homebuyers this month. That’s
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
