Housing Market
All Reports
March 9, 2023
Elevated mortgage rates, along with prices that remain high–despite posting a 1% annual drop– pushed monthly housing payments to a record high of nearly $2,600. That’s dampening demand and preventing many would-be sellers from listing their homes. The typical homebuyer’s monthly payment hit a new all-time high of $2,563 this week, up 29% from $1,988 […]
March 6, 2023
The share of U.S. homes worth at least $1 million has fallen to 7% from 8.6% last June as the housing market cools. Just over 7% of U.S. homes are worth $1 million or more. That’s down from June 2022’s all-time high of 8.6% and essentially unchanged from a year ago–but it’s up from 4.2% […]
March 2, 2023
The median U.S. home-sale price declined 0.6% year over year in February, marking the first annual drop since 2012–but high rates mean homes aren’t more affordable. The milestone comes as daily average mortgage rates hit 7.1%, dampening homebuying demand. U.S. home-sale prices have fallen from a year earlier for the first time in more than […]
March 1, 2023
Homeowner tenure is down slightly from the peak reached in 2020, but it has nearly doubled over the last couple decades, contributing to the lack of for-sale inventory. Baby boomers are driving the general trend of longer homeowner tenure; more than one-third of homeowners 65 and older have held onto their home for at least […]
February 24, 2023
Pending home sales improved slightly, but an ongoing affordability crisis and lack of homes for sale kept many house hunters on the sidelines. Pending home sales rose 0.5% from a month earlier in January on a seasonally-adjusted basis. That compares with December’s revised month-over-month increase of 1.4%, which was the first gain in 14 months. […]
