Key Points: The average monthly cost of owning a home in the U.S. soared to over $1,700 in 2023—a 17 percent increase from 2020—driven by across-the-board cost increases in mortgages, utilities, property taxes, and insurance. While mortgage holders face higher overall expenses, outright owners are seeing their housing budgets stretched more ...
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Key Points: Affordability improved in March, aided by falling mortgage rates, slower house price growth, and rising household income. National house price growth remains modestly positive, but prices declined in 13 of the top 50 markets year over year, while other markets posted strong gains. Market divergence in house price trends is below ...
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Key Points: There is a strong relationship between the median length of time that people stay in their home, known as tenure, and sales activity. Historically, the median tenure length in the U.S. has been six years, but today it’s reached a historic high of nearly nine years. The drivers behind the rise in tenure length are multi-faceted but ...
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Key Points: Homeowners insurance premiums in the U.S. increased by 21 percent between 2021 and 2023, driven by severe weather-related events, rising construction costs, and higher claim payouts. The South, particularly coastal cities, faced the steepest hikes, with eight of the 10 metros with the fastest-growing premiums located in the region. ...
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Key Points: Rising inventory and affordability challenges are cooling price appreciation nationally. House prices have dipped below their peaks in 47 of the top 50 markets. Despite price declines, significant equity buffers remain for those that purchased over the boom period. In February 2025, home buyers received some welcome news as mortgage ...
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Key Points: The rate lock-in effect peaked in Q4 2023 with a 3.2 percentage point difference between the average prevailing mortgage rate and the average outstanding mortgage rate. Due to lower mortgage rates and steadily increasing share of people buying homes at higher rates, the rate lock-in effect has loosened, prompting higher for-sale ...
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