Homeownership is becoming more and more difficult, according to ATTOM's 2023 U.S. Home Affordability Report, which revealed that in Q3, housing affordability worsened across the nation amid continuing increases in home prices and mortgage rates.
Read More »Study Examines Why 1 in 5 Americans Regret Moving
Among homeowners who have relocated in the last three years, more than 20% regret moving, according to a new study from All Star Home, with unexpected housing costs cited as the top driver of buyer's remorse.
Read More »Rents Decline for Fourth Straight Month as Homebuying Costs Elevate
"Rents have registered steady declines for the past four months and, while they remain well above pre-pandemic levels, when you factor in the impact of record-high mortgage rates and high home prices, it's understandable that many would-be homebuyers are choosing to remain on the sidelines," said Danielle Hale, Chief Economist at Realtor.com.
Read More »August New Home Purchase Mortgage Applications Up Nearly 21%
Purchase demand remained strong in August for newly constructed homes, increasing 20.6% compared to a year ago, according to the MBA Builder Application Survey, while the average loan size for new homes increased to $398,092.
Read More »Examining Discrimination, Financial Barriers in the Homebuying Process
Nearly one in six prospective homebuyers across different races and ethnicities reported facing some form of discrimination during the homebuying process, according to the National Association of Realtors. Others cited their primary reasons for stalling their home purchase as waiting for mortgage rates and home prices to decline, alongside a lack of available homes within their budget.
Read More »Housing Demand Outweighs Supply as Home Prices Continue to Rise
While mortgage-purchase applications fell to a 28-year low in August, the median U.S. home-sale price is up nearly 5% year-over-year. Due to a severe lack of inventory, high housing costs continue to dampen homebuying demand, according to a new report from Redfin.
Read More »More Than Half of Americans Fear They Will Never Own a Home
Among Americans who don’t currently own a home, 51% say they’re worried they will never attain homeownership, according to a new survey from LendingTree. Mortgage rates topped 7% last month and home prices hit new highs in June.
Read More »Underwater Mortgages on the Decline as Home Prices Rebound
Half of all homeowners paying mortgages are equity-rich, according to ATTOM's 2023 U.S. Home Equity & Underwater Report, while the share of seriously underwater mortgages also improved, resting at 2.8%.
Read More »Florida Metros Ranked the Best Cities for First-Time Homebuyers
While housing affordability remains unbalanced nationwide, many Americans remain worried about housing costs. However, a new market study from WalletHub reveals which cities are the best and worst for first-time homebuyers, with multiple Florida metros topping the list with the greatest buying opportunities.
Read More »Renting Now Cheaper Than Buying in Nearly All Highest-Populated U.S. Cities
According to a new study from Home Bay, it is cheaper to rent than purchase a home in 45 of the 50 most populous U.S. cities, with San Jose, California, ranked the most expensive city for buying a home, whereas Pittsburgh was named the most affordable.
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