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.
Read More »Americans Struggling with Homebuyer’s Remorse, Housing Costs
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.
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 »Americans Are Growing Less Confident They Can Afford a Home
According to MeridianLink’s latest Nationwide Mortgage Lending Survey, more than 30% of Americans are less confident in their ability to afford a home compared to five years ago. In addition, 55% expect mortgage rates to continue rising through the remainder of 2023.
Read More »Renting Remains More Affordable Than Buying in Most Large U.S. Metros
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.
Read More »August New Home Purchase Mortgage Applications Up Nearly 21%
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.
Read More »Affordability Challenges Hindering Prospective Homebuyers
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 »Mortgage Credit Availability Rebounds
The MBA's Mortgage Credit Availability Index revealed that August's share of mortgage credit availability was on the upswing after a decrease in July, which resulted in the lowest level of credit availability recorded since 2013.
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