Tag Archives: Affordability

The MBA reports that overall application volume is down yet again, with lingering economic uncertainty and affordability issues keeping prospective buyers on the sidelines.

New data from Redfin recently revealed that buyers are seeking out less expensive areas like Tampa and San Antonio due to the surging cost of housing and other goods, limiting their ability to purchase homes in many U.S. cities.

A recent Quicken survey found that 21% of those polled planned to buy a first or new house in 2022, with 69% of that segment now reconsidering that move.

A recent Senate Banking Committee hearing addressed the nation’s homeownership gap, and provided recommendations on how to mend a market in peril.

With the Federal Reserve expected to take further action to address continued inflationary concerns, mortgage rates rose for the second consecutive week amidst softening market demand.

In 38 of the 50 largest U.S. metros, the monthly cost of renting a home is lower than buying a starter home. The median listed rent across these 50 analyzed metros was $1,876, growing by 14.1% during June 2021.

A new NAR survey found that 57% of agents reported a lack of inventory as a critical factor in their potential clients from making a purchase.

Using newly released data from the Census Bureau, a new blog post outlines how affordability declined during the pandemic, increasing the number of households that are “cost-burdened”—those that pay more than 30% of their income on housing.

Paul Buege, President/CEO of Inlanta Mortgage, explains that through education and knowledge, homeownership can become a reality despite the forces of affordability and other factors that stand in the path of today’s buyers.

The median monthly asking rent in the U.S. surpassed a whopping $2,000 for the first time in May rising 15% year-over-year to a record high of $2,002—according to ...