Key Points: Recessions don’t always mean falling home sales – the housing market has remained resilient in many past downturns. Lower mortgage rates can offset economic uncertainty – the Federal Reserve often cuts rates in a recession, making homes more affordable. Every recession is different – unlike the Great Recession, most downturns haven’t ...
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Key Points: Increased residential construction activity, especially in the South, is improving affordability in certain markets. Housing supply has surged in the South, with over half of the 1.5 million building permits issued in 2024 located the region. Our analysis shows a strong correlation between new-home construction and home prices, with ...
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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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