Housing Market
All Reports
May 22, 2023
Pandemic boomtowns and pricey coastal markets are seeing historic home-price declines. Nationwide, the median home sale price dropped nearly $18,000 from a year earlier in April as elevated mortgage rates dampened homebuyer demand. The median U.S. home sale price fell 4.1% ($17,603) year over year in April to $408,031. That’s the biggest drop on record […]
May 19, 2023
Buying is more affordable than renting in Detroit, Philadelphia, Cleveland and Houston. The largest homeownership premium is in the Bay Area, where it’s twice as expensive to buy than rent. Nationwide, the typical home costs an estimated 25% more per month to own than rent. A drop in mortgage rates would cause the homeownership premium […]
May 18, 2023
U.S. home prices are down 2.7%, the smallest decline in over a month, and prices are dropping in fewer metros. That’s because there’s so little inventory hitting the market, with homeowners handcuffed to their houses by low rates. The median U.S. home-sale price fell 2.7% during the four weeks ending May 14, the smallest decline […]
May 11, 2023
A rise in new rentals hitting the market coincided with a slowdown in tenant demand, causing rent growth to cool for the 11th-straight month. The Sun Belt saw the biggest declines, allowing some renters to sign leases at more affordable rates than a year ago. The median U.S. asking rent rose 0.3% year over year […]
May 11, 2023
Fewer homes are selling than usual this spring–but the ones that are changing hands are going fast, with a small pool of buyers circling an even smaller pool of listings. This week’s inflation report, which shows slow but steady progress on easing price gains, confirms it’s likely the Fed will pause on interest-rate hikes next […]
