The typical homebuyer put down 18.6% of the purchase price, up from 15% a year ago. Nearly 3 in 5 homebuyers put down more than 10% of the purchase price, one of the highest shares on record. All-cash purchases made up just over 30% of all sales, while FHA loans made up the lowest share […]
The Typical Homebuyer’s Down Payment is a Record $67,500, Up 15% From a Year Ago Read More »
The mortgage rate lock-in effect is prompting many homeowners to stay put, contributing to America’s housing shortage. But the lock-in effect is slowly easing because eventually, people have to move; 86% of homeowners with mortgages have interest rates below 6%, down from 91% in 2023 and a record 93% in 2022. Nationwide, 85.7% of U.S.
Pending starter home sales grew 10% in July year over year, while other price brackets fell. The median price for a U.S. starter home climbed to $250,000 in July, but price growth was slower than for other price brackets. Starter homebuyers are moving off the sidelines as mortgage rates fall and inventory rises. Pending sales
Starter Homes Emerge as Bright Spot as Mortgage Rates Settle Near 15-Month Low Read More »
HOA dues are up more than 15% from a year ago in Tampa, Orlando and Fort Lauderdale, compared with a median gain of 6% across the 43 metros Redfin analyzed. The Sunshine State is seeing HOA fees jump due to skyrocketing insurance costs and new safety requirements in the wake of the Surfside condo collapse.
Condo HOA Fees Surge in Florida Amid Insurance Crisis Read More »
Signals of early-stage homebuying demand, including home tours, are gaining momentum as mortgage rates stabilize at a 15-month low. The median U.S. monthly mortgage payment was $2,587 during the four weeks ending August 18, its lowest level since February and down 0.1% from a year earlier. That’s a tiny drop, but it marks the first
House Hunters Are Back As Monthly Mortgage Payments Post First Annual Decline Since 2020 Read More »
Democratic presidential nominee Kamala Harris unveiled a plan that promises to combat the housing affordability crisis, and boost supply and demand. Harris’s plan is appealing, but will take a careful balancing act to pull it off. U.S. home-sale prices have risen nearly 40% since President Biden took office, mortgage rates are just now coming down
Here’s What a Kamala Harris Presidency Could Mean For the Housing Market Read More »
