Housing costs reached record highs for homebuyers and renters in 2023, but affordability is projected to improve this year. A new Zillow report shares predictions for the hottest housing markets of 2024.
Read More »2024 Housing and Economic Conditions: Headed in the Right Direction?
According to a new LendingTree study, rates began to trend in the right direction after peaking in October, with the average rate for 30-year fixed mortgages falling to below 7.00% by December, ending the year more than a percentage point lower than their 2023 peak. But will economic conditions continue to ease in 2024?
Read More »Share of Prospective Homebuyers Waiting for Market Conditions to Improve Declines
According to Bank of America's latest Homebuyer Insights Report, the estimated number of prospective buyers willing to wait for prices and/or mortgage rates to fall before purchasing a home is down from a whopping 85% recorded in June.
Read More »Will the Housing Market Crash Next Year?
A new LendingTree report revealed how consumers feel about current market conditions, the likelihood of the market crashing in 2024, and just how many are actively hoping it does.
Read More »Median Home Prices, New Homes for Sale Slipped in June
Annually, new listings of homes for sale dropped nearly 26%, falling below their previous pandemic lows, according to Realtor.com.
Read More »Western Markets Experiencing the Largest Rent Drops Nationwide
While rents remain nearly 25% higher compared to the same time in pre-pandemic 2019, rent prices in the expensive West are seeing the largest year-over-year declines, according to Realtor.com's May 2023 Rental Report.
Read More »What a Debt Ceiling Default Could Mean for the Mortgage Industry
Although a national debt default is unlikely, new scenario projections from Zillow reveal home sales would decrease sharply. While home values would not lose much ground, a surge in mortgage rates would do further damage to nationwide housing affordability.
Read More »Experts Foresee Home Price Growth Picking Back Up in 2024
According to a new Zillow survey, starting next year, experts foresee price growth picking back up at an average clip of 3.5% per year through 2027.
Read More »Share of Income Required to Afford a Mortgage Skyrockets
Mortgage affordability has worsened coast-to-coast, rising to 30.2% nationwide. New data from Zillow reveals that housing affordability is now the worst it has been in several years, leaving many households cost-burdened.
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