Data

According to a new Redfin survey, the most common reason home sellers are relocating is the desire for more space, followed by proximity to family and a lower cost of living. Click here to see why sellers are choosing to move despite record-high mortgage rates and an increasing lack of inventory.

While traditional credit reports remain a strong indication of past financial reliability, a credit report alone doesn’t always provide the full picture of a consumer’s financial profile.

While millions of units are expected to be developed in the coming years, developers are expected to open 460,860 rentals by the end of December. However, a new RentCafe study revealed even that may not be enough to keep up the pace with surging nationwide rental demand as more and more Americans opt for renting over buying.

“Annual home price growth regained momentum in July, which mostly reflects strong appreciation from earlier this year,” said Selma Hepp, Chief Economist for CoreLogic.

The MBA's Mortgage Credit Availability Index revealed that August's share of mortgage credit availability was on the upswing after a decrease in July, which resulted in the lowest level of credit availability recorded since 2013.

"August was another rough month for mortgage borrowers from an interest rate perspective," said Andy Walden, VP of Enterprise Research and Strategy at Black Knight, now a part of ICE.

Potential first-time homebuyers looking to shift from renting to homeownership in 2023 are facing mortgage rates that are nearly 4 percentage points higher than the low point in Q4 2020, limiting their purchasing power. In a new analysis, First American Economist Ksenia Potapov revealed the costs of renting against the costs of owning a home.

Efforts to use this digitized data for urban development must also keep in mind how this sort of data has been used historically. A new post from David Luberoff, Deputy Director of the Joint Center for Housing Studies at Harvard University, dives into the concept.

Rental market competition was moderate this summer compared to last year, according to a new RentCafe study, with Miami named the most competitive rental market during peak moving season, while two other Florida markets also topped the top 10 list.

“The worsening housing affordability crisis has an outsized impact on Gen Zers and millennials because they’re much less likely to own a home than older generations,” said Redfin Chief Economist Daryl Fairweather.