Tag Archives: Homebuyers

“Prospective homebuyers continued to face challenging conditions in July, with elevated and volatile mortgage rates and low housing inventory serving as a formidable one-two punch that suppressed mortgage applications and sales activity,” said Edward Seiler, MBA’s Associate VP, Housing Economics, and Executive Director, Research Institute for Housing America.

As many Americans return to work, a new Realtor.com report showing the Hottest ZIP Codes of 2023 revealed homebuyer demand is being fueled in part by the desire for more commute-friendly locations and additional space.

While total housing inventory continues to inch forward, existing-home sales retreated in July in the face of mortgage rates sitting at 7.09%.

While the nationwide supply of homes for sale remains stiff, relocation can be challenging for many homebuyers and renters. A new study from LendingTree revealed that the Austin, Dallas, and Las Vegas metros have the largest share of recent movers.

Between 2020 and 2040, some 70% of new homeowners are projected to be Hispanic, according to a new study from the Urban Institute. It reveals the Latino homeownership rate was just over 50% in 2021, representing the highest rate for Latinos since 2009.

RentCafe's August Rental Activity Report revealed Arlington, Virginia was named the most sought-after city by renters for the second consecutive month, while New York City boroughs like the Bronx and Queens trailed closely behind.

Overall housing inventory dropped 15% year-over-year in June, remaining at an all-time low. A new market report from Redfin revealed that homebuyers are turning to new builds as many homeowners continue clinging to their low existing mortgage rates, contributing to the ongoing lack of supply.

The high-priced housing market is affecting homebuyer sentiment nationwide, as a new survey from LendingTree revealed more than 50% of Americans fear they will never be able to own a home.

The average American homeowner was able to purchase their first home at nearly 29 years old, according to a new survey from Shane Co.'s The Loupe. The survey revealed that the average homeowner rents for roughly five years before purchasing a home, while more than 25% of respondents believe it's now impossible to afford a home as a single person in the current housing market.

A new report from Redfin revealed the typical U.S. home purchased in high-opportunity neighborhoods sold for an estimated $470,000 last year, nearly 40% more than the typical home in low-opportunity areas, as many of those neighborhoods continue to be gentrified, making them less affordable.