Tag Archives: Household Income

In 2022, the median sale price for a single-family home in the US was 5.6 times higher than the median household income—higher than at any point on record, dating back to the early 1970s.

Inventory levels are improving, and home sellers were more active this December, according to Realtor.com's Monthly Housing Market Trends Report. With the number of homes for sale growing year-over-year, experts anticipate that more new listings will enter the market in 2024.

"Mortgage rate optimism increased dramatically this month, with a survey-high share of consumers anticipating mortgage rate declines over the next year," said Mark Palim, VP and Deputy Chief Economist at Fannie Mae.

“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.

A new RentCafe report unveiled the affordability challenges of buying a home for younger generations. Just how many millennials and Gen Zers don't plan to move out anytime soon? Click through to find out.

Consumers nationwide are citing elevated mortgage rates rather than home prices as their primary challenge in reaching affordability, as rates above 7% continue to dampen the overall housing market sentiment, according to Fannie Mae's latest Home Purchase Sentiment Index.

Despite those surveyed reporting job stability and personal financial improvements, Fannie Mae’s Home Purchase Sentiment Index still shows 82% of consumers reporting that it’s a “bad time to buy.”

Consumer confidence in the housing market may have plateaued, according to Fannie Mae's Home Purchase Sentiment Index (HPSI), which remained mostly flat in June, as shrinking supply and affordability conditions continue to pose challenges.

According to a newly released survey by Fannie Mae, affordability constraints have consumers increasingly convinced that it is a seller’s market, while high prices leave buyers with a bleak outlook.

“This month’s increase in the HPSI was the largest in over two years, primarily driven by consumers’ more optimistic mortgage rate expectations,” said Doug Duncan, Fannie Mae’s SVP and Chief Economist.