Tag Archives: Median household income

From bustling cities in the Midwest to sunny spots on the West Coast, some places stand out due to affordable housing and high homeownership rates.

A new report from NAR has found that the typical home buyer's annual household income has climbed to a new record high in the wake of rising home prices and mortgage rates.

As housing affordability and demand continue to worsen for Americans nationwide, the latest ICE Mortgage Monitor Report revealed that purchase-mortgage applications fell nearly 50% below pre-pandemic levels in October, representing the weakest numbers recorded since rates began to rise.

A new analysis of National Low Income Housing Coalition data ranks the states where it takes the longest to save for a median-priced home utilizing the 50/30/20 rule—50% on needs, 30% on wants, and 20% on savings. Click through to view the rankings.

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.

As affordability struggles worsen for homeowners and buyers nationwide, for-sale inventory is now at its lowest level since April 2022, according to Black Knight's latest Mortgage Monitor Report for April.

While inflated home prices continue to dampen demand, home sales fell to a more than seven-year low in January, as rising rates continue to weaken home affordability.

U.S. home price appreciation reached 20.7% in August 2021, marking the third straight month it has reached a new record mark, according to the latest findings by First American.