Pending home sales are flat from a year ago, marking the first time since January they haven’t declined; on a local level, sales are increasing in most major metros. Other demand indicators, like home tours and mortgage-rate locks, are also improving as mortgage rates drop to their lowest level in two years. Pending U.S. home […]
Roughly half of surveyed renters think Kamala Harris would be the best choice to make housing more affordable, while about one-third think Donald Trump would be best. Renters skew Democratic because many of them are young and live in cities. The president can’t solve the housing affordability crisis on their own; it will take a
Trump vs Harris: Renters Debate Who Is Better for Housing Affordability Read More »
54% of U.S. apartments that were completed in the first quarter rented within three months, up from 47% a quarter earlier. Newly-built studio apartments rented out faster than other bedroom types. One-bedroom and two-bedroom apartments rented out slower as completions climbed by more than 20%. More than half (54%) of newly constructed apartments completed in
Buyers need to earn $77,000 to afford the typical U.S. starter home, down 0.4% year over year. That’s the first annual decline since 2020 thanks to falling mortgage rates, which recently posted the first annual decline in three years. The typical household earns $84,000—9% more than they need to afford the typical starter home. Still,
Buying a Starter Home Is Now Cheaper Than It Was a Year Ago Read More »
Only 2.5% of U.S. homes changed hands in the first eight months of 2024. The rate of home sales and home listings are both down at least 30% from 2019. California metros lead the list of areas with the lowest turnover, while Sun Belt and New York commuter metros posted highest turnovers. Just 25 out
Just 2.5% of U.S. Homes Changed Hands This Year, The Lowest Rate in Decades Read More »
The asking rent for a new apartment fell to $1,746 in the second quarter, down 6.2% from a year ago. One-bedroom apartments fell the most, dropping 9% to $1,566. Asking rents dropped at the same time new apartment completions rose to the highest level in at least 12 years. Asking rents for newly constructed apartments
