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 »The Week Ahead: Balancing the Economy and Housing
An upcoming webinar will feature Patrick F. Stone, and Economist Dr. Bill Conerly analyzing the economy and its impact on housing, and provide predictions on the upcoming quarter and the remainder of 2023.
Read More »Rates Keeping Many Prospective First-Time Homebuyers on Sidelines
Freddie Mac reports that, after retreating for two consecutive weeks, the 30-year fixed-rate mortgage edged back upward this week, nearing the 6.40%-mark, and forcing app volume downward.
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 »Moving During the Pandemic: Exodus or Inertia?
A new blog post by the Joint Center for Housing Studies at Harvard University examines the shrinking share of Americans that have moved over the last two years, falling back to numbers seen before the pandemic began.
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.
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