A new report from the Joint Center for Housing Studies revealed Black, Hispanic, and Asian households were far more likely than white households to fall behind on housing payments during the pandemic. Black renters were most vulnerable, with one in four reporting being behind on rent in 2020.
Read More »Existing-Home Sales Dip in June, Hit Slowest Pace Since January
A new report from NAR shows existing-home sales dipped 3.3% from May, while the median existing-home price for all housing types reached its second-highest mark of all time in June.
Read More »Existing-Home Sales Settle in June
According to First American’s Potential Home Sales Model, the nationwide sales pace will begin to settle into a new normal, as potential existing-home sales decreased in June, suggesting they may have hit bottom.
Read More »In Less Than a Decade, Americans Will be Priced Out of These Cities
While many metro areas continue to outpace the national average in terms of growth, GOBankingRates reveals the cities where homebuyers will be unable to afford homes in the next 10 years, with popular cities like Knoxville, Tennessee; and Albuquerque, New Mexico topping the list.
Read More »Midwest Metros Top List of Cities With Most Affordable Rentals
As economic inflation continues to impact rental prices nationwide, a new study from WalletHub examined the best and worst cities to rent in the U.S., with Midwestern states like North and South Dakota, Kansas, and Iowa topping the list of places with the most affordable rentals.
Read More »Americans Migrating to Smaller Cities With Lower Median Home Values
A new State of U.S. Population Movement Report reveals that more Americans are moving to counties that have a median house value of $279,000—nearly 40% lower than the median house value of counties that are losing population.
Read More »Millennials Remain Fundamental Drivers of Homeownership
While millennials prevail as the largest generation in U.S. history, a new study from First American revealed some 51% of them are homeowners. At age 41, the millennial homeownership rate is 62%, closely following Gen X at 64%, significantly narrowing the homeownership gap over the past decade.
Read More »Miami Named Nation’s Hottest Renting Spot
As renters continue to outpace homebuyers across the U.S., Miami is reemerging as the nation’s most competitive rental market. But pent-up demand remains an issue, driving the occupancy rate up to an estimated 97.1%, according to a new report from RentCafe.
Read More »Surging Rates Fuel Increase in Adjustable-Rate Mortgage Activity
Among mortgage originations exceeding $1 million in April 2023, adjustable-rate mortgages comprised nearly 50% of the dollar volume, representing a six percentage-point increase from a year earlier.
Read More »Homebuying Remains Out of Reach for Many
According to a new Home Bay study, it is more affordable to rent than buy a home in 90% of the most populous U.S. cities. Research found that, on average, renters save an estimated $174 a month, totaling $2,088 per year.
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