With more than 338,000 retiring and moving in 2023, could this number move higher in 2024?

The median rent of studios was still $206 (or 16.7%) higher than before the pandemic, which represents a significant jump that is only slightly smaller than that seen in larger units.

“Banks should be competing to provide better products at lower costs, not innovating to impose extra fees for no value. The CFPB will continue to rid the market of junk fees today and prevent new junk fees from emerging in the future,” said CFPB Director Rohit Chopra.

It should be no surprise that renters in California and New York were the most likely to move cities and states, looking for more affordable accommodations that still allowed them to telecommute to work.

Home prices compared to incomes have been rising since before the pandemic, but they really took off after the Federal Reserve began hiking interest rates in 2022. Here’s which markets are feeling the strain the most.

"The housing market is caught in a generational tug-of-war. Boomers will soon face aging-in-place hurdles, while millennials will face the surprise of homes in need of major upgrades," said Jon Bostock, CEO of Leaf Home.

“We’re definitely seeing an uptick in activity from both buyers and sellers,” said Abby Alwan, a Redfin Premier real estate agent in Austin. A new report breaks down the shifts currently happening in the housing market.

On an annual basis, existing-home sales (4.09 million) fell to the lowest level in nearly 30 years, while the median price reached a record high of $389,800 in 2023.

Doug Duncan, Fannie Mae SVP and Chief Economist, forecasts positive things for 2024. But here’s why rates “still have a significant way to go in order to meaningfully reduce the ‘lock-in effect.’”

“Housing affordability remains strained, but things are looking up for Gen Z,” said Redfin Chief Economist Daryl Fairweather.