The path to homeownership is becoming increasingly challenging for Americans nationwide, but how much can potential homebuyers afford to spend on a home in today's market? A new Point2 study showed that the median home price is now twice what the average buyer can afford, posing even more financial barriers for those seeking the American Dream.
Read More »Will the ‘Seller’s Strike’ End, or Will Homeowners Give In?
As Americans hold tightly to their low mortgage rates, more than 90% of homeowners remain financially disincentivized from selling their homes, as it would cost more to borrow the same amount of money they owe on their current mortgage. A new study from First American dives into the situation.
Read More »Housing Affordability Reaches Lowest Point in Over Three Decades
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.
Read More »U.S. Home Prices Rise 8.7% Month-Over-Month
First American reports that between September 2022 and October 2022, rose nearly 9% month-over-month, with the rapid annual decline in affordability driven by a 12% annual increase in nominal house prices.
Read More »More Homebuyers Taking up ARMs
Mark Fleming, Chief Economist at First American, explains why current conditions mean adjustable-rate mortgages “could be a game-changer for many first-time homebuyers."
Read More »Affordability Falls to 13-Year Low
A new analysis from First American has found that home buyers continue to struggle to afford high listing prices amid a shrinking supply.
Read More »House Price Appreciation Sets Record for Third Consecutive Month
U.S. home price appreciation reached 20.7% in August 2021, marking the third straight month it has reached a new record mark, according to the latest findings by First American.
Read More »Home Prices Become More Affordable Than Their Housing Boom Peaks
While nominal house prices in July were 35% higher than at the housing boom peak for prices in 2006, house-buying power remains nearly 38% below its 2006 housing boom peak.
Read More »An Affordability Boost for Prospective Homebuyers?
A report looked into price changes of single-family properties throughout the U.S. Here’s what it revealed.
Read More »The Three Factors Driving Housing Affordability
A report reveals the three key factors responsible for rising home price appreciation and a reduction in affordability in several areas across the nation.
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