Housing Market
All Reports
September 25, 2024
48% of all homes for sale in August had been on the market for at least 60 days, up from 43% a year ago. The typical home took 37 days to find a buyer—six days longer than a year earlier. Homes are selling fastest in Seattle and slowest in Florida metros. Nearly half (48%) of […]
September 24, 2024
Buyers need to earn $115,000 to afford the typical U.S. home, down 1% year over year. That’s the first annual decline since 2020, thanks to falling mortgage rates, which just posted the first annual drop in three years. Still, the typical household only earns $84,000—27% less than it needs to afford the typical home. Texas […]
September 19, 2024
During the last election cycle, the typical swing state renter household earned 21% less than they needed to afford the median priced apartment. Still, many renters feel the rent is “too damn high,” meaning the housing affordability crisis is a key issue for swing state voters deciding this year’s presidential race. Arizona has seen a […]
September 19, 2024
Monthly housing payments have declined nearly $300 from April’s all-time high. Improving affordability has yet to push up pending sales, but that could change after the Fed cut interest rates for the first time since 2020 this week. The median U.S. housing payment was $2,534 during the four weeks ending September 15, down 2.7% from […]
September 18, 2024
Sales of existing homes dropped 1% month over month in August to a seasonally adjusted annual rate of 4 million, while pending sales fell 2%. Declining mortgage rates are giving buyers more purchasing power, but some house hunters are waiting on the sidelines in hopes that rates will fall further. Others are hesitant to buy […]
