Housing Market
All Reports
December 14, 2023
This week has brought a few pieces of good news to the housing market: Mortgage rates are dropping, new listings are rising and mortgage-purchase applications are up nearly 20% from their November low point. Daily average mortgage rates have fallen to 6.82%, their lowest level since May. This marks the first time daily rates have […]
December 13, 2023
The median U.S. asking rent fell 2% year over year in November—the biggest decline since 2020—as landlords grappled with rising vacancies due to a building boom in recent years. But rents are still rising in the Midwest, partly because out-of-towners are moving in to get more bang for their buck. The median U.S. asking rent […]
December 7, 2023
A homebuyer with the median U.S. income would’ve had to spend a record 41% of earnings on monthly housing costs in 2023, up from 39% in 2022 and 31% in 2021. The least affordable markets were Anaheim and San Francisco, where homebuyers with the typical local income would’ve needed to spend over 80% of their […]
December 7, 2023
Prices are falling from a year ago in four Texas metros–Austin, San Antonio, Houston and Fort Worth–and in Portland, OR. Redfin predicts price declines will become more widespread in the new year. Homebuying is becoming more affordable as mortgage rates continue declining. The median U.S. housing payment was $2,561 during the four weeks ending December […]
December 5, 2023
Listings will rise and prices and rates will fall. But high housing costs will remain a problem for young families, which will increase demand for large rentals and force President Biden to make affordability a cornerstone of his reelection bid. We’re starting to see signs of a shift toward a buyer’s market as pandemic-driven inflation […]
