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
The Suburbs of St. Louis Are the Most Affordable Place in the U.S. to Buy a Home
The Midwest and South are home to a majority of the country’s most affordable cities. A typical household in Bellefontaine Neighbors, MO, a St. Louis
Starter-Home Sales Climb 5%, But Prices Stay in Check as Inventory Hits 9-Year High
Starter-home sales rose 4.9% year over year, increasing for the 14th consecutive month. In comparison, sales of mid-priced homes inched up 0.7%, and high-priced home
15% of Home Purchases Fell Through in October, Up Slightly From a Year Earlier
Homebuyers are getting cold feet due to high housing costs and economic uncertainty. Many are convinced they’ll be able to find a home they like
Typical Retail Worker Earns $37,000 Less Than Needed to Afford Typical Apartment
The typical retail worker earns $34,000 per year, or 52% less than they would need to afford the typical apartment. Rental affordability has improved slightly
The Housing Affordability Crisis Is Accelerating Fastest in Rural America
Rural homebuyers need to earn $75,000 to afford the typical home, up from $36,000 before the pandemic. Suburban and urban areas have also seen affordability
It’s the Strongest Buyer’s Market in Records Dating Back Over a Decade
Home sellers outnumbered buyers by a record 36.8% in October, giving buyers who were in the market room to negotiate. The number of buyers in
