Tag Archives: Home Prices

A new Zillow study revealed that total U.S. housing value has surged more than $2.6 trillion over the past year, an estimated 49% higher than before the pandemic, with new home construction continuing as the primary driver of housing market growth.

A new All Star Home study revealed that 1 in 5 homeowners regret relocating, citing unexpected home costs as their top reason, while more than 20% of Americans said they regret how much they paid for their home.

According to the First American Real House Price Index, housing affordability dropped to its lowest point in more than three decades, with home prices jumping 2% from June.

According to Realtor.com's August 2023 Rental Report, buying a starter home in the top 50 metros cost approximately 60.3% more than renting, while median U.S. rents experienced their fourth consecutive month of year-over-year declines.

Purchase demand remained strong in August for newly constructed homes, increasing 20.6% compared to a year ago, according to the MBA Builder Application Survey, while the average loan size for new homes increased to $398,092.

Two new studies from the National Association of Realtors show that elevated home prices and limited housing supply are continuous homebuying barriers cited across different races and ethnicities, hampering home sales and affecting prospective buyers nationwide.

According to a new Redfin survey, the most common reason home sellers are relocating is the desire for more space, followed by proximity to family and a lower cost of living. Click here to see why sellers are choosing to move despite record-high mortgage rates and an increasing lack of inventory.

“Annual home price growth regained momentum in July, which mostly reflects strong appreciation from earlier this year,” said Selma Hepp, Chief Economist for CoreLogic.

Potential first-time homebuyers looking to shift from renting to homeownership in 2023 are facing mortgage rates that are nearly 4 percentage points higher than the low point in Q4 2020, limiting their purchasing power. In a new analysis, First American Economist Ksenia Potapov revealed the costs of renting against the costs of owning a home.

Even the most affordable metro areas analyzed in NerdWallet's latest Q2 housing activity report experienced price increases that decreased overall affordability, as rising home prices and high interest rates continue to make the homebuying process even more difficult for potential first-time buyers.