While racial disparities in homeownership persist, a new study from the Joint Center for Housing Studies revealed immigrants face unique challenges in becoming homeowners, as data found only 16% of households nationwide were headed by a foreign-born resident in 2021.
Read More »California Metros Top List of Least Affordable Cities for First-Time Homebuyers
Five California metros have been named the least affordable cities and worst cities to purchase a home for first-time homebuyers, according to a new study from WalletHub. Multiple Golden State areas were also ranked for the highest cost of living throughout the U.S.
Read More »Fed Resumes Rate Increases with a 25 BPS Hike
At the conclusion of Fed’s two-day July meeting, the Federal Open Market Committee moved to raise the base interest rate by 25 basis points, with all members voting in favor of the action.
Read More »Demand for Renovations Drove Home Equity Lending Increases in 2022
“Home renovations and remodeling drove demand for home equity products in 2022, with roughly two-thirds of borrowers citing it as a reason for applying for a home equity loan. Other borrower reasons were for debt consolidation (25%) and emergency cash management or other (10%),” said Marina Walsh, CMB, MBA’s VP of Industry Analysis.
Read More »Homebuyer Assistance Programs Experience Quarterly Uptick
According to a new report from Down Payment Resource, the number of homebuyer assistance programs available to help people finance homes inched forward 0.5%, offering more opportunities to those who remain financially worried about housing costs.
Read More »National S&P Home Price Index Showcases ‘Striking’ Regional Differences
In addition, although the Case-Shiller Index fell by 0.5% year-over-year, CoreLogic’s Chief Economist Dr. Selma Hepp noted that "while the annual decline reflects price drops that occurred in 2022, recent above-average price gains indicate an inflection ahead.”
Read More »Rent Prices Continue to Moderate, Offering Financial Relief for Renters
While rents for one-bedroom units experienced their first year-over-year decline since 2020, prices remain 24.1% higher than 2019. However, Realtor.com’s June 2023 Rental Report predicts slowing inflation throughout the remainder of the year and continued financial relief for renters' budgets.
Read More »Disaster-Prone Areas Remain Popular, But Finding Insurance Is Another Story
States including Florida, Texas, and Arizona exploded in popularity despite increasing climate change risk from storms, drought, wildfires, and extreme heat—but some insurance companies are pulling out of these markets.
Read More »Darker-Colored Home Interiors Fetching More
A new analysis of paint color has found that charcoal gray-colored rooms can help a home sell for as much as $2,512 more, as Zillow found rooms enveloped in dark gray create a feeling of security.
Read More »Study: Black Renters Struggled Most With Housing Payments During Pandemic
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.
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