Housing Market
All Reports
July 9, 2024
Builders obtained permits to construct 13 multifamily units per 10,000 people this year, down from an average of 18 in 2021-2023. They’ve pumped the brakes because borrowing costs are high and there’s already a near-record number of units hitting the market, which is limiting rent-price growth. Landlords may feel empowered to jack up rents in […]
July 3, 2024
Pending home sales posted their biggest decline since February during the four weeks ending June 30. The good news for prospective buyers: There are more new listings to choose from, and monthly housing payments are down nearly $100 from their April peak as mortgage rates decline. We’re taking a break from analysis this week; please […]
July 1, 2024
47% of U.S. apartments that were completed in the fourth quarter were rented within three months, down from 60% a year earlier. There are more new apartments hitting the market than normal. As a result, building owners are competing with one another for tenants, which is limiting how much they can boost prices. Newly built […]
June 27, 2024
The typical U.S. home that sold during the four weeks ending June 23 sold for 0.3% less than its asking price. This marks the first time the typical home has sold under list price this time of year since the onset of the pandemic in 2020, when the housing market nearly ground to a halt. […]
June 24, 2024
Just 39% of renters make enough to afford the median-priced apartment. The income renters need to afford the typical apartment is the highest since 2022 amid a rebound in asking rents, which are now just $47 shy of their record high. The typical renter earns enough to afford the median-priced apartment in just five metros […]
