According to the Pew Research Center, the number of Americans living with multiple generations under one roof has quadrupled. More than 59 million people are now living in multigenerational households, with most homes made up of parents and adult children.
Read More »California to Texas Migration Route Becomes Even More Popular
According to a new study from StorageCafe, California to Texas is the most popular interstate relocation route in the U.S. Roughly 111,000 people took that route in 2021, with an estimated 46% of people who migrated being millennials.
Read More »Mortgage Rate Locks to Remain a Challenge
"High inflation and the Fed's actions to curb it have had a significant impact on the housing market this year. And while inflation has begun to ease, the sustained spike in mortgage rates was enough to stifle the housing market after several years of low rates and strong activity," said Realtor.com Chief Economist Danielle Hale.
Read More »Mortgage Rates Fall for Third Straight Week
Even as mortgage rates fall, continued inventory concerns and affordability issues are keeping many on the sidelines as the summer buying season gets underway.
Read More »Typical U.S. Monthly Housing Payment Nears Record Highs
According to a new report from Redfin, near-7% mortgage rates continue to prevent both would-be homebuyers and potential home sellers from entering the market, despite the construction of new single-family homes nearing their highest level in almost 20 years.
Read More »Zillow: 4.3M New Homes Needed to Address Affordability Crisis
A lack of affordable homes has created millions of “missing households” which are keeping families in shared homes or the rental market.
Read More »Existing-Home Sales Get Minor Boost, Unsold Inventory Reaches Three-Month Supply
Based on the current rate of sales, May’s inventory of unsold existing homes grew 3.8% from April to just over 1 million units, equivalent to three months of supply.
Read More »The Best U.S. Cities for Raising a Family in 2023
A new study from WalletHub revealed which cities throughout the nation are ranked the best and worst places to raise a family, with half of the top 10 best areas located in California, while Midwestern cities like Detroit and Cleveland came in last.
Read More »Existing Homes Remain Scarce as Homeowners Stay Put
According to the First American Potential Home Sales Model, housing market potential increased slightly in May, down 5.7% compared to a year ago, and remains squeezed by the ongoing housing supply shortage.
Read More »Bidding Wars are Back Due to Low Inventory
Bidding wars, a trend that rose to record levels during the pandemic, are back due to lack of inventory, meaning that homes sold in May typically went for more than their list price.
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