A new report from the Joint Center for Housing Studies revealed Black, Hispanic, and Asian households were far more likely than white households to fall behind on housing payments during the pandemic. Black renters were most vulnerable, with one in four reporting being behind on rent in 2020.
Read More »Market Remains Resilient Amid Nationwide Inventory Shortage
Housing demand remains strong across the U.S., according to the RE/MAX National Housing Report for June, as home sales rose 5.4% from May, posting the highest median sales price since June 2022's peak price of $426,000.
Read More »Existing-Home Sales Settle in June
According to First American’s Potential Home Sales Model, the nationwide sales pace will begin to settle into a new normal, as potential existing-home sales decreased in June, suggesting they may have hit bottom.
Read More »In Less Than a Decade, Americans Will be Priced Out of These Cities
While many metro areas continue to outpace the national average in terms of growth, GOBankingRates reveals the cities where homebuyers will be unable to afford homes in the next 10 years, with popular cities like Knoxville, Tennessee; and Albuquerque, New Mexico topping the list.
Read More »Single-Family Home Prices Rise in Q2
Fannie Mae's latest Home Price Index reveals home prices grew 3% year-over-year in Q2, and while demand remained resilient, competition heated up for the near-historically limited supply of existing homes for sale.
Read More »Homebuyers Persist as Average Home Price Hits Record High
"Home buyers have persisted this spring despite daunting affordability challenges and record-low inventory," said Jeff Tucker, Senior Economist at Zillow.
Read More »Market Monitor: Locks Move South in June; Credit Availability Tightens
According to Black Knight's Originations Market Monitor report, overall rate lock volumes were down 1% month-over-month in June, with conforming loans gaining share mainly at the expense of nonconforming loan products.
Read More »Americans Migrating to Smaller Cities With Lower Median Home Values
A new State of U.S. Population Movement Report reveals that more Americans are moving to counties that have a median house value of $279,000—nearly 40% lower than the median house value of counties that are losing population.
Read More »TD Bank Study Spotlights Homebuyer Headaches
"The Federal Reserve has increased rates every time it has met for over a year, so the pause on rate hikes last month and the fact that we've likely reached a near peak may offer some respite for buyers," said Steve Kaminski, Head of U.S. Residential Lending for TD Bank.
Read More »YoY Decline in Net New Listing Volume Fuels Inventory Challenges
According to HouseCanary's latest Market Pulse report, net new listing volume continues to trail behind contract volume, putting further downward pressure on housing inventory and dampening market activity nationwide.
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