...Profile. NAR’s Member Profile also found that 16% of potential homebuyers cited affordability as an issue preventing them from achieving the American dream of homewonership. “In the last year, Realtors...

...volume to new lows, tailing off nearly 80% year-over-year. ATTOM’s Q2 2022 U.S. Home Affordability Report found that median-priced single-family homes and condos were less affordable in the second quarter...

...recent months.” The report also found that affordability is at its lowest point since the mid-1980s with rates up 11% to near 6% for a 30-year mortgage. In addition, it...

...4.2 percentage points. “Rising cost burdens in 2020 reversed a nearly decade-long trend of gradually improving affordability. Indeed,” the JCHS said. “The cost-burden rate peaked in 2010 in the aftermath...

...What makes today’s affordability issues even more difficult is that there are no short-term fixes to make the inflationary pressures we are feeling go away. And housing affordability may be...

...homebuying groups, appear to be feeling the affordability pinch of higher mortgage rates: Approximately half of all respondents indicated that it would be ‘difficult’ to get a mortgage, the highest...

...Economic and Industry Forecasting. “Purchase activity is hamstrung by ongoing affordability challenges and low inventory, and homeowners still have reduced incentive to apply for a refinance." Freddie Mac also reported...

...the coming months, it will likely remain high, causing ongoing affordability issues for renters.” Asking rents surged 48% year-over-year in Austin, Texas —the largest increase on record in any metro...

...than they were a year ago, which is why applications for home purchases and refinances remain depressed. Purchase activity is hamstrung by ongoing affordability challenges and low inventory, and homeowners...

...the resulting further deterioration in home affordability. With 30-year rates hovering close to 6% and home prices up nearly 11% since the start of 2022, home affordability is at its...