Renting and/or owning a home continues to be a financial burden for average U.S. workers, according to ATTOM’s 2024 Rental Affordability Report, which showed that rents are growing faster than wages in most markets, outpacing home prices in nearly all of them.
Read More »Empty Nesters Outpace Millennial Parent Households
Empty-nest baby boomers own twice as many large U.S. homes as millennial parents living with children, a new Redfin report showed, as nearly half of all boomers are now living mortgage-free, with no motivation to sell in such a volatile market.
Read More »New Year, Same Housing Unaffordability Issues
While mortgage rates have moderated, housing market challenges such as affordability and rising home prices continue to hinder homebuyers nationwide.
Read More »Aspiring Homeowners Feeling Optimistic About 2024
According to a recent Realtor.com survey, more than half of all first-time homebuyers indicated that now is a good time to buy, as moderating price growth and mortgage rates are expected to help improve affordability throughout 2024.
Read More »Consumers Grow Increasingly Optimistic About Mortgage Rates
"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.
Read More »Mortgage Rate Drops Encouraging Market Activity
“The slight increase in December listings indicates the impact of lower mortgage rates is beginning to trickle down into the market, which comes as an optimistic sign as we head into the new year," said Jeremy Sicklick, Co-Founder and CEO of HouseCanary.
Read More »Home Sales Retreat YoY
NAR Chief Economist Lawrence Yun said, "The latest weakness in existing home sales still reflects the buyer bidding process in most of October, when mortgage rates were at a two-decade high before the actual closings in November.”
Read More »Potential Home Sales Experience Largest Monthly Growth in a Year
Mortgage applications climbed in November, but will home sales accelerate throughout the end of the year? Mark Fleming, Chief Economist at First American, details the state of existing-home sales and more market predictions.
Read More »Pending Home Sales Surge, But Closed Sales Lag Behind
In November, new listings jumped to their highest level since October 2022, while home prices also posted its biggest increase since the same time last year. Pending home sales also continued to rise, but many home purchases fell through at a record rate as some homebuyers got cold feet, according to a new Redfin report.
Read More »Buying Power Shifts Across Nation’s Largest Cities
While the average homebuyer can now afford to spend even less on a home, a new Point2 study revealed that the median home price in the U.S. is now 50% higher than the average affordable home price.
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