Volumes

By reviewing U.S. Census Bureau data, researchers have ranked the nation’s most “house poor” cities, where homeowners are spending more than 30% of their income on housing costs.

“While the continued imbalance between buyers and sellers continues to pressure home prices, June’s annual bump in price growth echoes economic resiliency, a thriving U.S. job market, and strong consumer spending,” said Selma Hepp, CoeLogic Chief Economist.

According to Redfin, the typical starter home sold for an eye-watering record of $243,000 in June 2023, up 2.1% year-over-year and up 45% from before the pandemic.

The mortgage rate tipping point—the rate that will allow homeowners to move—has advanced above 5%, with a Zillow report finding those above this rate are nearly twice as likely to plan to sell their home than those with a rate below 5%.

The OCC, Treasury Department, Federal Reserve, and FDIC have jointly issued a proposal to modify large bank capital requirements to better reflect underlying risks, and increase the consistency of how banks measure their risks.

In a study on Q2 migration nationwide, Redfin reports the typical Las Vegas home costs less than half as much as one in Los Angeles, San Francisco, or Seattle.

Redfin reports the median sale price of luxury homes rose 4.6% year-over-year in Q2, with prices being propped up by a lack of supply, which is fueling competition in many markets nationwide.

The S&P CoreLogic Case-Shiller Index found additional gains in May—the latest data made available by the report—as the top-20 major metropolitan markets reported month-over-month price increases for the third consecutive month.

Properties in California in high probability areas for wildfires experienced much slower appreciation than other properties in safer areas.

Climate change does not seem to be factoring into homebuyers' decisions on where they are purchasing homes according to Redfin, as nearly 400,000 more people moved into than out of the most flood-prone counties in 2021 and 2022—an increase of 103% over the two years prior.