Housing Market

Weekly Market Update

Pending Home Sales Post Biggest Increase Since 2021

Home sales are rising in most major U.S. metros as housing payments sit near their lowest level since January, but they’re falling in coastal Florida as hurricanes hit the southeastern U.S. Mortgage rates rebounded over the weekend; that could soon begin to impact homebuyer demand. Pending U.S. home sales rose 2% from a year earlier […]
Weekly Market Update

September Was a Turning Point For Demand, With Pending Home Sales Flat After 9 Months of Declines and Tours Hitting Highest Level Since April

Pending home sales are flat from a year ago, marking the first time since January they haven’t declined; on a local level, sales are increasing in most major metros. Other demand indicators, like home tours and mortgage-rate locks, are also improving as mortgage rates drop to their lowest level in two years.  Pending U.S. home […]
Affordability

Trump vs Harris: Renters Debate Who Is Better for Housing Affordability

Roughly half of surveyed renters think Kamala Harris would be the best choice to make housing more affordable, while about one-third think Donald Trump would be best. Renters skew Democratic because many of them are young and live in cities. The president can’t solve the housing affordability crisis on their own; it will take a […]

Newly Built Apartments Are Starting to Fill Up Faster, But At a Slower Pace Than Last Year

54% of U.S. apartments that were completed in the first quarter rented within three months, up from 47% a quarter earlier. Newly-built studio apartments rented out faster than other bedroom types. One-bedroom and two-bedroom apartments rented out slower as completions climbed by more than 20%. More than half (54%) of newly constructed apartments completed in […]
Affordability

Buying a Starter Home Is Now Cheaper Than It Was a Year Ago

Buyers need to earn $77,000 to afford the typical U.S. starter home, down 0.4% year over year. That’s the first annual decline since 2020 thanks to falling mortgage rates, which recently posted the first annual decline in three years. The typical household earns $84,000—9% more than they need to afford the typical starter home. Still, […]
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