ATTOM has released its Q3 2022 U.S. Home Affordability Report showing that median-priced single-family homes and condos remain less affordable in Q3 of 2022 compared to historical averages in 99%...
Read More »Search Results for: Affordability
Off-Season Shoppers Find More Options Amid Sparse Inventory
...likely to find opportunities to cash-in on record-high levels of equity, particularly if you've owned your home for a longer period of time. And for prospective buyers grappling with affordability,...
Read More »Experts: Buyers Will Return to Power in 2023
...confluence of decelerating home prices, rising interest rates, and the ever-present threat of inflation. Home value growth hit record highs shortly after pandemic, but is now slowing as affordability is...
Read More »Mortgage Rates Inch Closer to 7% Mark
...decline in existing home sales is not surprising considering the increasing affordability crisis. A household earning the median annual income of $71,000, and using a 20% down payment could afford...
Read More »Housing Affordability Continues Rapid Annual Decline
...affordability loss from higher rates and fast-rising nominal prices in July. “As affordability wanes, would-be buyers are pulling back from the market, prompting annual house price appreciation to moderate. Annual...
Read More »Volatile Mortgage Rates Cause More Than Stress
...up by about $118,000 (11.4%) from August to September. “The challenges homebuyers face in today’s market go beyond the dwindling affordability caused by high mortgage rates and home prices,” said...
Read More »Most Areas Report Declining Contract Activity
...all but assured.” “The steep decline in affordability has contracted housing demand, reducing the pace of sales. But there are also fewer existing homeowners listing their homes for sale, which...
Read More »Cost of Homeownership Growing ‘Prohibitively High’
...-0.5% and -0.4%, respectively. In July, only seven cities reported increases before and after seasonal adjustments. Despite these moves by the Fed, affordability challenges remain for a market plagued by...
Read More »HUD Issues 19,000-Plus Housing Vouchers
...Housing Agencies (PHAs) nationwide, marking the most expansive allocation of flexible new rental assistance in nearly 20 years. “To help people who are dealing with the housing affordability crisis, including...
Read More »Tumultuous Economic Conditions on Horizon After Recent Fed Move
...the single-family market’s relative unaffordability. “In our view, the recent interest rate surge is due to the market’s recognition of two critical factors: that inflation is indeed not transitory, and...
Read More »