The latest market analysis from CraftJack reveals that the number one reason Americans move is for a job, but many are seeking a lower cost of living and a warmer climate. Click through to learn which states Americans are most moving to and from, as well as why the cost of moving is deterring so many homebuyers.
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.
Read More »Twist of Fate: The Rise of Suburban Square Footage Values
The pandemic threw many wrenches into the housing market, and a new report notes that, for the first time in years, space in suburban homes is now worth more than space in urban homes.
Read More »Rent Growth Expected to Moderate Further Into 2023
While rising supply is causing rent growth to slow, Redfin’s latest market report revealed rent growth experienced its first single-digit increase in a year, marking a significant slowdown from the estimated 20% growth in Q1. Here are the latest findings.
Read More »Consumer, Median Mortgage Payments Rise in September
As escrow and title payments turned negative in 2022, new data from Bank of America showed that median mortgage payments rose nearly 9% in September, while total payments increased 10% year-over-year.
Read More »Higher Education Proving Strong Contributing Factor for Millennial Homeownership
The latest analysis from First American Financial revealed that millennials are the most educated generation in American history, with nearly 40% possessing a bachelor’s degree or more, as those with higher education remain more likely to obtain homeownership.
Read More »Mortgage Credit Availability Falls to Nine-Year Low
Credit availability fell to its lowest level since March 2013 in September, as reports show credit tightening for the seventh consecutive month.
Read More »Potential Buyers Increasing Down Payments to Secure Homes
New data from Redfin's latest market report showed that homebuyers’ down payments doubled during the pandemic, and despite September revealing a slight decline from their peak in June, competition and increasing home prices continue to make it difficult for prospective buyers to afford homes.
Read More »Sharp Decrease in Demand Driving Housing Market Cooldown
While declining demand led to a nearly 20% decrease in new listing volumes in September, the volume of price drops is up 83.2% compared to the same time last year. Click through to learn more from HouseCanary's latest Market Pulse report.
Read More »Rising Rates Shrinking Homebuyer Aspirations
As mortgage rates creep toward the 7%-mark, buyers still in the market are being forced to downgrade their options for a larger home, cutting more than 400-square feet out of the homes on the market.
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