According to a new study from Real Estate Witch, 60% of surveyed Americans underestimate nationwide home prices, with only 1 in 7 knowing that the current median home price falls between $400,000 and $499,000.
Read More »Trading Rent for a Mortgage Might Backfire in These Metros
On one hand, buying a home and paying a mortgage means owners can build equity and leave an inheritance. However, when adding up monthly mortgage payments, home insurance, and property taxes, many renters could be left feeling like renting is not just the best option, but the only option.
Read More »Mortgage Credit Availability Falls to Lowest Level in a Decade
“Mortgage credit availability declined to its lowest level since 2013, as lenders pulled back on underutilized loan programs and as liquidity concerns remain for some jumbo lenders,” said Joel Kan, MBA’s VP and Deputy Chief Economist. "Declining origination volumes have led to lower profitability for many lenders, resulting in narrower loan product offerings to reduce operational costs.
Read More »Homeownership Access Remains Hampered by High Home Prices
According to a new survey from Arrived, Americans are seeking financial security and stability from homeownership, but many remain hindered by unaffordability. Nearly 80% of Gen Zers report home prices are their biggest barrier to entering the housing market and purchasing a home.
Read More »Home Prices Hit Record Highs in 60% of Major Markets
"We've been noting for some months that the recent rate of home price gains would have a lagging, but significant, impact on the annual rate of appreciation," said Black Knight VP of Enterprise Research Andy Walden. "Well, June marked that inflection point."
Read More »Study: How Much Americans Spend Annually on Household Bills
While households nationwide continue to struggle with the increased cost of living, doxoINSIGHTS’ 2023 State by State Bill Pay Market Report revealed the average American is spending almost $25,000 per year on household expenses, with 73% of consumers reporting that inflation is currently impacting their ability to pay bills.
Read More »Rental Market Experiences Significant Increases in Prices, Listings
While rental prices peaked in Q2, they are expected to trend downward in the coming months, as available-for-rent inventory has surged 70% year-over-year. Here’s what else HouseCanary's latest National Rental Report has to reveal.
Read More »More Q2 Shoppers Seeking Homes in Other Markets
Realtor.com has found that more than 60% of all listing page views from the top 100 metros went to homes located outside the metropolitan areas where shoppers live.
Read More »Lock-In Effect Keeping Home Prices Elevated
Home prices are increasing due to the mismatch between supply and demand, as inventory remains low due to the lock-in effect. The total number of homes for sale is down 19%, the biggest drop in a year and a half, and new listings are down 21%.
Read More »Harvard Perspectives: Addressing 2023 Housing Challenges, Disparities
Researchers from Harvard University's Joint Center for Housing Studies point out that lawmakers and regulators proved during the pandemic that policy-based housing solutions are possible in a time of crisis.
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