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Home Affordability Got a Boost in Time for Christmas

“Homebuyer affordability improved for the second consecutive month in December as interest rates declined significantly from recent highs,” said Edward Seiler, MBA’s Associate VP of Housing Economics and Executive Director for the Research Institute for Housing America. Here’s what to expect as we approach spring.

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Inclement Weather Impacting U.S. Homebuying Activity

As inventory remains alarmingly low, home prices are also rising in parts of the U.S., with some potential buyers being hampered by harsh weather. But in a new report, Redfin agents say that “serious buyers are finding a way to see desirable homes,” and demand is picking up in warmer regions.

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End-of-Year Market Trends Bode Well for the New Year

"There are many reasons to be encouraged about housing in 2024," said Nick Bailey, RE/MAX President and CEO. "The high mortgage rates and inventory lows of 2023 definitely made for a challenging market, but December data shows some positive signs for the new year."

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