Housing Affordability Improves Nationally for Second Straight Month

By Mark Fleming on October 29, 2024
Key Points: National affordability improved on an annual basis for the second consecutive month yet remains low historically. In deciding whether to rent or own, it’s important to remember the wealth-building power of equity accumulation. Even homeowners who bought at the height of the housing boom in 2006 have gained $169,000 in equity, while ... Read More

Housing Interest Rates Real House Price Index Affordability

So, Where Does the Existing-Home Market Go from Here? The Good, The Bad, and the Likely

By Odeta Kushi on October 17, 2024
Key Points: Existing-home sales as a percentage of total households are historically low, at just 2.9 percent. By contrast, the pre-pandemic average was 4.4 percent. Only 94 of every 10,000 existing homes are for sale, lower than the pre-pandemic historical average of 220 of every 10,000 homes. Given the current number of households in the U.S. ... Read More

Housing Mortgage Rates Existing-Home Sales

2024 House Price Blitz – Analyzing NFL Divisions by Median House Prices

By Mark Fleming on October 7, 2024
Key Points: The NFC West has the highest median sales prices because it’s home to three of the most expensive markets in the country: San Francisco, Los Angeles, and Seattle. The AFC north has the lowest median sale prices because it includes two of the least expensive markets in the country – Cleveland and Pittsburgh. Markets comprising the NFC ... Read More

Housing Affordability Homeownership

National Housing Affordability Improves Annually for First Time in Post-Pandemic Era

By Mark Fleming on September 30, 2024
Key Points: National affordability improved on an annual basis for the first time since 2021. If mortgage rates ease further to 6 percent by the end of the year, income growth trends towards historical average, and nominal house price growth slows but remains positive, affordability will improve by over 7 percent by the end of the year. Industry ... Read More

Housing Interest Rates Real House Price Index Affordability

Is Student Loan Debt Really Preventing Homeownership?

By Sam Williamson on September 23, 2024
Key Points: Longer repayment terms and lower interest rates have increased students’ “education-buying power” and lowered payment-to-income ratios reducing the impact of rising student loan balances over time. Millennials’ pursuit of higher education significantly boosts earning potential and house-buying power, making student loans more likely to ... Read More

Housing Mortgage Rates

Two Months of Progress for Existing-Home Sales

By Odeta Kushi on September 16, 2024
Key Points: Existing-home sales for August are expected to increase 0.5 percent from July’s pace of sales. If realized, this would mark two consecutive monthly increases. While house-buying power is nearly 4 percent greater than last month, and 10 percent above a year ago, it remains 7 percent below the two-year, pre-pandemic average. Even if ... Read More

Housing Mortgage Rates Existing-Home Sales