For many renters and home seekers nationwide, becoming a homeowner remains a challenge as record-high mortgage rates and inflated housing costs persist. A new study reveals which affordable suburbs may offer homebuyers a better chance of attaining homeownership.
Read More »Metro Areas Where Homebuying Is Cheaper Than Renting Dwindling Nationwide
According to a new report from Redfin, while the typical U.S. home costs an estimated 25% more per month to own than rent, homebuying is only more affordable than renting in Detroit, Philadelphia, Cleveland, and Houston.
Read More »Elevated Mortgage Rates Continue to Handcuff the Housing Market
"Although a lot of homebuyers have acclimated to rates in the 6% range and many are finding ways to lower their monthly payments, like using a 2-1 buydown, high rates are handcuffing potential sellers,” said Redfin Deputy Chief Economist Taylor Marr.
Read More »Trend of Slowing Rent Growth Continues
"In April, we continued to see rising rent prices and a moderating growth rate. This is promising news for renters, suggesting that the pandemic peaks are behind us, and that the challenging affordability picture may begin to improve," said Realtor.com Chief Economist Danielle Hale.
Read More »Single-Family Rent Price Gains Dip YoY in March
Single-family rent price gains continued to slow year-over-year in March, dropping to 4.3%, while popular metros like Charlotte, Orlando, and St. Louis saw the highest rent growth nationwide.
Read More »Americans Financially Stressed as Rent-to-Income Ratios Remain Elevated
According to Moody’s Analytics U.S. State of Rent Burden report, in 2022, the national rent-to-income ratio crossed the 30% rent-burdened threshold for the first time in more than two decades, as cost-of-living concerns remain a stressor for many Americans.
Read More »Here to There: The Most and Least Commute-Friendly Metros
A new report from Yardi Kube revealed the best metros for a short and eco-friendly commute, which showed shorter commutes and hybrid work result in a healthier environment.
Read More »Fewer Homes Are Selling Than Usual This Spring
While spring is typically a hot homebuying season, new listings of homes for sale dropped 19% year-over-year in May, according to a new report from Redfin, leaving homebuyers circling an even smaller pool of listings.
Read More »HUD Awards More Than $22M to Expand Access to Affordable Housing
The U.S. Department of Housing and Urban Development has announced it has awarded $10 million in Rural Capacity Building grants, along with $12.5 million in grants through the Self-Help Homeownership Opportunity Program, to help expand affordable housing and homeownership nationwide.
Read More »HUD Allots $837M to Improve Housing Quality for Underserved Communities
The U.S. Department of Housing and Urban Development announced the availability of new funding from President Biden’s Investing in America Agenda, making HUD-assisted multifamily housing more energy efficient by cutting greenhouse gas emissions and improving climate resiliency.
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