A new intelligence report written by Scott Giberson, Principal of Product Compliance for CoreLogic, puts some common misconceptions about flood insurance under the microscope.

The most recent iteration of the BMO Real Financial Progress Index revealed a number of new information including that over 65% of Americans are waiting on mortgage rates to drop before buying a home in today’s market.

“Overall, the study revealed that Raleigh, North Carolina; Charlotte, North Carolina; and St. Louis are the three best metropolitan areas for homeownership. Each of these metros ranks among the lowest for share of homes lacking complete plumbing and kitchen facilities (both are lowest in Raleigh), meaning they appear to have relatively high-quality housing available,” said LendingTree Senior Economist Jacob Channel.

According to a new analysis by Zillow and Thumbtack, utility bills, property taxes, insurance and essential home maintenance can add up to nearly $14,155 for the average homeowner, or an additional $1,180 per month on top of a typical mortgage payment.

Total residential loans dropped 19% in the first quarter of 2023, reaching the lowest point since 2000; refinancing was also down 85% year-over-year.

As reported by Realtor.com, home prices rose by 0.9% in May 2023, landing below numbers during pandemic and going further back to 2016.

While the Real House Price Index found that home prices, and therefore affordability, decreased across the country, median household income has increased 4.1% since January 2022.

The Latest S&P CoreLogic Case-Shiller Index found that the national index posted a 1.3% increase in March 2023 over the previous month.

Mortgage insurers reported that over one million borrowers utilized low down payment programs in order to secure a mortgage for a home; about 97% of these purchases helped people buy new homes and first-time buyers get into one.

NAR’s latest report reveals pending home sales were down across the U.S. on a year-over-year basis. Click through to find out what else the report revealed.