In November, new listings jumped to their highest level since October 2022, while home prices also posted its biggest increase since the same time last year. Pending home sales also continued to rise, but many home purchases fell through at a record rate as some homebuyers got cold feet, according to a new Redfin report.
Read More »Buying Power Shifts Across Nation’s Largest Cities
While the average homebuyer can now afford to spend even less on a home, a new Point2 study revealed that the median home price in the U.S. is now 50% higher than the average affordable home price.
Read More »Cooling Home Values Boost Affordability
As mortgage rates continue to ease, homebuyers are still constrained by elevated housing costs, according to Zillow's latest housing report. However, cooling home values did provide some relief in November.
Read More »U.S. Price Growth Hampered by ‘Below Normal’ Demand
While seasonal price trends typically place downward pressure on rents throughout the fall and winter, it may be no surprise that rents dropped in November, according to a new Rent. report. Asking rents have declined year-over-year in three of the last four months.
Read More »Gen Zers Outpace Millennials, Now Leading U.S. Rental Demand
Millennials outweigh Gen Zers in terms of population, but not when it comes to renter households, according to a new report from the Joint Center for Housing Studies. Daniel McCue, Senior Research Associate, reveals the future of rental housing demand and projects the number of renter households both generations will add over the next decade.
Read More »Which States Have the Most Americans Experiencing Financial Distress?
“Financial distress can be a vicious cycle,” said Cassandra Happe, Analyst at WalletHub. “People who can’t make payments on their accounts end up damaging their credit scores, which in turn makes it more difficult for them to qualify for the best solutions to their debt.”
Read More »Prospective Homebuyers’ Patience Surrounding Market Conditions May Be Waning
A Bank of America study revealed that the vast majority of prospective homebuyers expect home prices and interest rates to fall in the coming year, so they’re waiting until then to purchase a home. But how likely is that to happen? BofA experts unveil more in their latest Homebuyer Insights Report.
Read More »New Home Listings Experience Largest YoY Increase in Over Two Years
“Mortgage rates are dropping due to easing inflation and investors betting the Fed will cut interest rates sooner than expected," said Redfin Economics Research Lead Chen Zhao. “Declining rates, along with a sizable year-over-year increase in new listings, are leading to more favorable conditions for some buyers."
Read More »Organizations Call on FHFA to Lower Housing Costs for Renters, Homeowners
In a letter, nearly 80 consumer, energy, housing, health, manufacturing, and environmental organizations called on the Federal Housing Finance Agency to help lower costs and make housing safer and healthier, in addition to suggesting requirements that all new homes with mortgages backed by Fannie Mae and Freddie Mac meet updated energy codes.
Read More »Many Americans Aren’t Optimistic About 2024’s Housing Market
While the housing market remains unpredictable, a surprising percentage of surveyed Americans report wanting it to crash in 2024, according to a new LendingTree study, as many believe that might be the only way they could afford a home.
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