Affordability

“Over the past year, the HPSI has plateaued at a low level, evidence of persistent consumer pessimism regarding the state of the housing market,” said Doug Duncan, Fannie Mae SVP and Chief Economist.

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.

While the most vulnerable, at-risk counties are currently bunched in Chicago and New York City metros and parts of California, a new ATTOM report revealed which markets are facing the greatest risk of market downturns in the coming year.

The least affordable markets included Anaheim and San Francisco, where homebuyers with the typical local income would’ve needed to spend over 80% of their pay on monthly housing costs.

“The Fed’s aggressive rate-hike campaign has worsened the generational homeownership divide,” said Sam Bourgi, Senior Analyst at CreditNews. “While more than 40% of all U.S. mortgages were obtained in 2020 or 2021, that’s been harder to get with mortgage rates at 22-year highs."

According to First American Economist Ksenia Potapov, homeownership—and the equity that comes with it—is one of the most effective ways to build wealth.

A new report reveals that this New England area has become a targeted destination for investors and those seeking second homes. Read on to find out these growing markets, and what destinations to look out for in 2024.

Redfin has made new predictions for the 2024 housing market, leading with the notion that next year may finally turn in favor of buyers as home prices fall and listings rise. Here’s what else they are forecasting.

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.

Affordability may make a resurgence in 2024, and markets such as Toledo, Ohio; Oxnard, California; and Rochester, New York are being singled out as potential hot markets. Here are the other markets that are primed to perform next year.