Data

In housing markets where home values are constantly rising, first-time buyers often struggle with coming up with a down payment and end up renting versus buying a home.

Initial mortgage payments are already affordable to millennials in 73 out of the 100 largest housing markets in the country, according to Trulia—in other words, the initial mortgage payments make up 20 percent or less out of that household’s monthly income. In 17 out of the largest housing markets, however, a median price home is defined as unaffordable to millennials.

Affordable housing markets can be hard to find in today's booming economy, but they are not nonexistent. In fact, there are a variety of affordable markets across the U.S., with the most affordable market located in Ohio, and the least affordable market in California.

Data from the Mortgage Bankers Association's Weekly Mortgage Applications Survey showed that mortgage loan application volume decreased 1.3 percent from last week on a seasonally adjusted basis.

The gap between homeowner and appraisal values of homes narrowed slightly again in October, as appraisers' values were 1.98 percent under homeowner opinions.

As recovery continues across the nation from the mortgage crisis in 2007, some states appear to be patching things together more quickly than others.

The data, which examined 55 of the largest metro areas across the country to determine the best markets for single-family home investors looking at median price, average gross rental yields, year-over-year job growth, and home affordability, showed that the top investment market is Charlotte, North Carolina due to its strong job growth.

The Bureau of Labor Statistics’ October jobs report released last week far exceeded expectations, generating widespread speculation that the Federal Reserve will raise short-term rates in the Federal Open Market Committee’s final meeting of the year in December.

While consumers anticipate a better labor market to come, they were mixed about inflation, depending on how deeply into the crystal ball they look, the latest Survey of Consumer Expectations from the Federal Reserve Bank of New York showed.

Home prices nationally are still on the incline, most notably in more affordable homes, according to the latest Home Price Index from CoreLogic.