Housing Market
All Reports
March 29, 2024
Over one-third of home purchases in February were made in all cash—not far from the record high. The median down payment for U.S. homebuyers was $55,640 in February. That’s up 24.1% from $44,850 a year earlier—the largest annual increase in percentage terms since April 2022. The typical homebuyer’s down payment last month was equal to […]
March 28, 2024
There are more homes for buyers to choose from, with new listings posting their biggest uptick in nearly three years. The typical U.S. monthly housing payment hit an all-time high of $2,721 during the four weeks ending March 24, up 10% from a year earlier. Housing payments are at a record high because of the […]
March 28, 2024
Buyers must earn nearly twice as much as before the pandemic to afford the typical starter home, due to the one-two punch of high prices and mortgage rates. One sliver of hope: Affordability of starter homes is slowly improving after hitting a low point at the end of 2023. Homebuyers must earn $75,849 annually to […]
March 27, 2024
Young Americans who have the means are turning to family for help with down payments as housing costs soar. Working a second job is also a popular way to save for a down payment, with 2 in 5 millennials and Gen Zers doing so. More than one-third (36%) of Gen Zers and millennials who plan […]
March 26, 2024
Buyers need to earn $114,000 to afford the typical U.S. home—35% more than the typical household makes. But that’s an improvement from October, when buyers needed to earn a record $121,000—51% more than the median household income. Mortgage rates have come down from their recent peak, giving buyers a bit more purchasing power, but affordability […]
