According to a new market report from Redfin, in November, pending sales climbed to their highest level since 2022, while new listings rose, representing the first sign of growth in a year and a half.
Read More »Price Declines Offering Renters Some Relief
U.S. rent prices fell for the seventh consecutive month in November, according to a new Realtor.com report, as rental supply outpaced elevated demand in the West and South. However, Northeastern renters continued to struggle with higher costs.
Read More »Asking Rents Post Biggest Decline in Over 3 Years
“Renters are finally catching a break," said Redfin Chief Economist Daryl Fairweather. "Better deals are easier to come by because landlords are doling out concessions and rents have started falling in a meaningful way. Rising supply also means renters have more good options to choose from."
Read More »Home Buying Power Falls
The path to homeownership is becoming increasingly challenging for Americans nationwide, but how much can potential homebuyers afford to spend on a home in today's market? A new Point2 study showed that the median home price is now twice what the average buyer can afford, posing even more financial barriers for those seeking the American Dream.
Read More »Homeowners Prioritized Maintenance, Home Improvement Spending in 2023
According to Angi's 2023 State of Home Spending report, Americans spent thousands of dollars on home projects this year, with many homeowners choosing to spend more on improvements rather than moving due to elevated housing costs and high mortgage rates.
Read More »Housing Affordability Improves in November as Mortgage Costs Moderate
Zillow's latest housing market report revealed that cooling home values, lower mortgage rates, and easing costs made home purchases more affordable for buyers in November, with sellers offering price cuts in increasing numbers.
Read More »Asking Rents Declined in November as Market Continues to Moderate
Asking rents have declined year-over-year in three of the last four months, according to a new Rent.com report, dropping a total of four times in 2023. As prices continue to climb in the Midwest, other regions saw annual declines in November, as the market continues its seasonal slowdown.
Read More »Share of Millennial Renters Declining as Gen Z Fuels Demand
Outpacing millennials, Gen Zers are now driving renter households, according to a new analysis from the Joint Center for Housing Studies. As Gen Z rental demand heightens and older generations exit the rental market, experts predict the number of renter households Gen Z adds in the next 15 years will be an important pillar of housing demand.
Read More »Freddie Mac to Make DPA Programs More Accessible to Individuals, Families Across U.S.
While saving for a down payment continues to be one of the most challenging barriers to homeownership for many, Freddie Mac’s latest multipronged action removes industry-wide barriers to down payment assistance (DPA) programs, helping provide mortgage loans and financial assistance to lower-income homebuyers across the nation.
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 »