Key Points: In 2024, single women overcame affordability challenges and increased their homeownership rate to nearly 52 percent, while the overall homeownership rate declined. Single women are making significant financial sacrifices, such as cutting non-essential spending and taking on second jobs, to save for down payments and purchase homes. ...
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Key Points: The spring season is crucial for the housing market, existing-home sales increase by an average of approximately 45 percent from the seasonal lows of December through February to the peak months of April through June Despite rising inventory, affordability remains a challenge due to high home prices and elevated mortgage rates. We’re ...
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Key Points: National affordability improved on an annual basis in December. If mortgage rates ease to 6.5 percent by the end of the year, income growth trends lower but remains positive, and nominal house price growth moderates, affordability will improve a modest 2 percent by the end of the year. Even with a potential 2 percent improvement by ...
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Key Points: Existing-home sales are projected to end 2024 higher than one year ago. Housing supply has increased in 34 of the top 50 markets we track on a year-over-year basis. Our analysis suggests a strong and positive relationship between increasing new listings and improving sales. Despite a year marked by elevated interest rates and the ...
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Key Points: Mortgage rates are expected to remain above 6 percent, but affordability may improve modestly due to positive wage growth and slightly lower rates. Inventory will remain historically low, with a slight increase expected if mortgage rates moderate. However, the mortgage lock-in effect will prevent a return to pre-pandemic inventory ...
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Key Points: Affordability fell by 4 percent on a month-over-month basis, the second consecutive month of decline. Yet affordability remains improved on an annual basis. Housing supply has increased nationally and in 49 of the top 50 markets we track on a year-over-year basis. As more homes are listed for sale, the power dynamics can shift in favor ...
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