Key Points: Renting is currently more affordable than owning in most major markets, even after adjusting for equity gains. The decision to rent or buy isn’t just financial – it’s also about flexibility versus stability, and lifestyle needs. Local conditions vary widely, and in some markets, modest appreciation still tips the scales in favor of ... Read More ›

Since real estate is local, whether it makes more financial sense to continue renting or to buy depends on where one lives. However, typical rent-versus-own calculations fail to include the main financial benefit of owning, which is the accumulation of equity. While rare, house price declines can make it more costly to own a home, but after ... Read More ›

The millennial generation, those born between 1981 and 1996, have recently dominated the demand side of the housing market. However, Generation Z, those born between 1997 and 2012, is on the cusp of aging into their prime home-buying years. While potential first-time home buyers, mostly millennials and older Gen Zers, jumped on the historically ... Read More ›

National housing affordability has broadly declined compared with one year ago, especially for potential first-time home buyers. The median renter, who can also be considered the median first-time home buyer, could afford 34 percent of the homes for sale nationally in the first quarter of 2023, down from 45 percent a year earlier. The decline is ... Read More ›

As mortgage rates have steadily risen, affordability has decreased significantly for home buyers across income levels. However, affordability for the potential first-time home buyer – those currently renting – has faced the most pressure. Nationally, affordability for potential first-time home buyers declined 19 percentage points in June 2022 ... Read More ›

Following two years of red-hot activity accelerated by pandemic-era dynamics, the housing market is cooling as demand falls in response to a significant decline in affordability. Double-digit house-price appreciation chipped away at affordability as the pandemic-driven supply and demand imbalance fueled competition for a limited inventory of homes ... Read More ›