Housing Market News
Affordability
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
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
