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 ›
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 ›
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 ›
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 ›
Key Points: In May and June, four of the eight indicators in our model flashed housing recession. While July data is still trickling in, it’s looking like we may narrowly avoid a housing recession. The relationship between housing and economic recessions is complicated and, contrary to what many believe, housing does not always lead economic ...
Read More ›
Key Points: In July, affordability improved annually in 12 markets for the first time since 2021. Despite the improvement in affordability, the only 17 percent of consumers indicated that it’s a good time to buy a home, down from 19 percent in June, according to the Fannie Mae Home Purchase Sentiment Index (HPSI). Affordability nationally remains ...
Read More ›