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 ...
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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. ...
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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 ...
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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 ...
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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 ...
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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 ...
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