Key Points: After a delayed start, younger generations are gaining ground in homeownership, driven by rising earnings, maturing careers, and the decision to form families. Millennials are accelerating purchases in their thirties, matching Gen X by their early forties and positioned to modestly surpass them as incomes grow and family formation ...
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Key Points: Markets with new listings nearer pre-pandemic norms generally have sales activity closer to those norms. Of the 75 metros tracked, 26 are “pace setters,” with both new listings and sales closer to their pre-pandemic averages than the typical market. The strong relationship between new listings normalization and sales volume ...
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Key Points: Mortgage rates are likely to hover in the low-6s, so affordability improves mostly because price growth cools while incomes rise. Inventory edges higher as the rate lock-in effect loosens, but the recovery is uneven by region. New homes keep an edge over the existing-home market as builders sell what’s already built with targeted ...
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Key Points: Boomers and Generation X dominate homeownership today, but as they age out, tens of millions of family homes will become available. Millennials and Generation Z—followed by Generations Alpha and Beta—will soak up that supply by forming households first and shifting into ownership later as they mature, sustaining demand for decades. The ...
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Key Points: National affordability improved on an annual basis for the sixth 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 approximately $181,000 in ...
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Key Points: Sales activity has increased modestly as mortgage rates ease and affordability improves. Mortgage applications hint at rising demand, but not enough to restore “normal” market levels. Potential sellers, who would also likely be buyers, remain reluctant, keeping a lid on the recovery. After a prolonged slump, the existing-home market is ...
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