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.
Read More »1 in 3 Sellers Are Relocating for More Spacious Homes
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.
Read More »Nationwide Construction Boom Expected to Remain High Until 2025
While millions of units are expected to be developed in the coming years, developers are expected to open 460,860 rentals by the end of December. However, a new RentCafe study revealed even that may not be enough to keep up the pace with surging nationwide rental demand as more and more Americans opt for renting over buying.
Read More »Renting vs. Buying: Examining the Cost of Homeownership
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.
Read More »Florida Markets Remained Fairly Competitive During Peak Rental Season
Rental market competition was moderate this summer compared to last year, according to a new RentCafe study, with Miami named the most competitive rental market during peak moving season, while two other Florida markets also topped the top 10 list.
Read More »Q2 Housing Affordability Down Across Large U.S. Metros
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.
Read More »Rising Home Prices Fueled by Ongoing Supply Shortage
Redfin's latest housing market update showed that the total share of homes on the market is down nearly 18% year-over-year, representing the biggest decline since February 2022. A significant lack of homes for sale caused home prices to rise nearly 5% annually, as mortgage-purchase applications remain at their lowest level in nearly three decades.
Read More »San Francisco Homeowners Most Likely to Lose Money When Selling
Due to a plunge in home prices in the popular Bay Area metro, San Francisco homeowners were most likely to lose money when selling their home. According to a new Redfin report, the typical San Franciscan seller who took a loss sold their home for $100,000 less than they bought it for.
Read More »Examining Aging Homes Across the U.S.
A new study from All Star Home found more than 1 in 5 homeowners regret purchasing/owning an older home, having spent an average of $10,700 on repairs over the last five years.
Read More »Mortgage Rates Soar to 22-Year High
While economic uncertainties remain a struggle for many Americans, rate hikes continued to slow overall housing market activity in August as mortgage rates reached their highest in over two decades, according to HouseCanary's Market Pulse report.
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