Housing Market News
Affordability
A Homebuyer on a $3K Budget Has Gained $22K in Purchasing Power Since June As Rates Drop to Lowest Level in 11 Months
Purchasing power has increased $7,500 in the last week alone, with rates falling to 6.3% on a weak August jobs report. The daily average mortgage
U.S. Homeowner Population Stops Growing for First Time in Nearly a Decade
The number of homeowner households fell 0.1% year over year in the second quarter—a small decline, but the first since 2016. Meanwhile, the number of
U.S. Housing Costs to Return to ‘Normal’ by 2030 With Stable Price Growth and Moderately Lower Rates
This year, the U.S. housing market has been described as “a nightmare,” “very unusual” and “alarming,” along with expletives we can’t write here. And with
Homebuyers Have Been Retreating. Now Sellers Are Too.
There are an estimated 1.43 million homebuyers in the U.S. housing market—the lowest level in records dating back to 2013 aside from the start of
The Mortgage Spread Has Dropped to a 3-Year Low. That’s Good News For Homebuyers and Refinancers.
The difference between mortgage rates and the 10-year treasury yield has narrowed, signaling a potential boost for homebuyers. A decrease in the mortgage spread can
Avocado Toast No More: Struggling Young Renters Forego Restaurants, Skip Meals to Afford Rent
But there are bright spots emerging on the affordability horizon, which could make it easier for young Americans to afford housing in the near future.
Record 8.5% of U.S. Homes Are Worth $1 Million or More
Despite high mortgage rates pushing down demand, historically low inventory keeps pushing up home prices, and therefore values. That’s good news for homeowners, but challenging
The Typical Teacher Can Afford 48% of Apartments Near Their School—Up From 41% Last Year. But They Can Afford Just 14% of Homes for Sale
Rental affordability has improved thanks to flattening rents and a modest increase in teacher pay. In Portland, OR, the typical teacher can afford 91% of
U.S. Housing Market Nears $50 Trillion in Value as Number of Trillion-Dollar Metros Doubles
There are now eight trillion-dollar metros, up from four a year ago, with Anaheim, CA, Washington, DC, Chicago and Phoenix joining the list of places
Homebuyers Have Gained Nearly $30,000 in Purchasing Power Over the Last Month Thanks to Mortgage-Rate Drop
House hunters should consider jumping into the market now, with last week’s soft jobs report sending mortgage rates to their lowest level since April 2023.
Nearly 25% of Gen Z House Hunters Willing to Sacrifice Safety to Afford a Home: Redfin Survey
17.3% of house hunters, overall, would trade off their safety to find an affordable home. Concern for safety is also a common reason why people
Renter Nation: America’s Renter Population Is Growing Three Times Faster Than Its Homeowner Population Amid Rise in Homebuying Costs
The number of renter households grew 1.9% in the second quarter—one of the biggest gains in recent years. The number of homeowner households rose 0.6%—the
