As record-high mortgage rates continue to hinder potential homebuyers nationwide, new home purchase activity weakened in September, according to the MBA's Builder Application Survey.
Read More »Home Prices Up in Nearly Three-Quarters of the U.S.
As home seller profits continue to rise, profit margins on typical home sales also increased nationwide, while the median U.S. home price surged to a new all-time high in Q3, according to ATTOM's 2023 U.S. Home Sales Report. Read the latest to find out why “any predictions of an extended market fallback may have been premature.”
Read More »Study Examines How Many U.S. Renters Remain Cost-Burdened
While elevated housing costs continue to hinder homebuyers and renters nationwide, a new study from Apartment List revealed that the share of American renters who are cost-burdened has risen to the highest level since 2012, according to recent Census data.
Read More »Homebuyers Backing Off Despite Increase in New Listings
According to a new Redfin report, new listings have ticked up, but near-8% mortgage rates are causing many potential homebuyers to retreat, as purchase applications remain near their lowest level in nearly 30 years.
Read More »Share of First-Time Hispanic Homebuyers Projected to Rise in Coming Years
Although denial rates are higher for Hispanic borrowers and worsening affordability continues to hinder homebuyers nationwide, a new study from the Urban Institute revealed that by 2040, an estimated 70% of new homeowners are projected to be Hispanic.
Read More »Homebuyers Resort to Family Roommates, Sharing Childcare to Save Money
Potential homebuyers are now co-buying and living with relatives for longer periods of time, according to a new survey from Realtor.com. Meanwhile, proximity to family remained a leading factor in choosing a place to live as many cohabiting Americans seek relief from childcare and housing costs.
Read More »Finding a Home Connection More Stressful Than Finding a Love Connection?
While purchasing a home can come with many challenges, according to a new Redfin survey, nearly 60% of recent homebuyers said purchasing a home is more stressful than dating, as mortgage rates remain at their highest level in more than two decades.
Read More »Baby Boomers, Millennials Lead the Nation in Solo Renting
A new study from RentCafe revealed renting alone has become an increasingly popular trend, with baby boomers making up the largest population of renters living alone in the U.S. followed by millennials, as the number of solo renters reached a record high of 17.7 million in 2020 and continues to grow.
Read More »U.S. Monthly Mortgage Payments Hit Record High
Record-high mortgage payments continue to motivate sellers to lower asking prices to attract more buyers, as a new Redfin report revealed the average homebuyer’s monthly housing payment is up nearly 9% year-over-year, reaching a new all-time high.
Read More »Survey Finds Nearly 40% of Americans Feel Pressure to Relocate
A new survey from LendingTree revealed that in addition to rising mortgage rates and housing costs, approximately 39.79% of respondents cited rent increases as the primary reason why they felt pressured to move, followed by landlords not making repairs and living in unsafe neighborhoods.
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