Migration

A new report from Redfin revealed Seattle, San Jose, Austin, and Phoenix are among the metros with the fastest-slowing housing markets as high mortgage rates, tech turmoil, and the lack of homes for sale deter homebuyers.

According to a new report form the Joint Center of Housing Studies, households of color are disproportionately excluded from the many potential financial and social benefits of homeownership, representing the persistently wide homeownership rate gaps between Black, Hispanic, and white households.

“People across the Unites States continue to feel the squeeze from higher housing costs, but the impact is uneven between regions,” said Anna Zhou, Economist for Bank of America Institute.

According to a new Redfin report, homebuying demand persists as mortgage rates declined for the second consecutive week after the Fed announced it will only modestly hike interest rates.

The single women’s homeownership rate declined in 2022 for the first time since 2016, with a slide of 4.1 percentage points from its peak of nearly 27% in 2021.

According to a Point2 study, American respondents said transitioning from a condo to a house would be easier in 20 of the largest U.S. cities analyzed.

Across America, rent control policies reduce investment and development, according to a study from the National Apartment Association that examines how rent control is hurting housing supply nationwide.

"The general rule of thumb is that you shouldn't spend more than 30% of your income on housing, but the data shows that in eight of the 50 largest metros, many renters are doing just that," said Realtor.com Chief Economist Danielle Hale.

According to a new CoreLogic report, single-family rent price growth was up by nearly 6% year-over-year in January, marking the lowest rate of appreciation since the spring of 2021.

According to a new market report from Zillow, high interest rates caused new listings to hit a record low in February, frustrating willing homebuyers nationwide.