Nearly half of single Americans earn less than $50,000 per year, compared to just 9% of married couples, according to a recent Redfin survey. That makes it harder to afford housing–which itself has gotten much more expensive over the years. Single people also tend to be younger, which also makes it harder to afford housing. […]
The typical home that sells takes 66 days to do so–the longest span in seven years–as buyers take their time looking at their options and negotiating with sellers. U.S. pending home sales fell 5.1% year over year during the four weeks ending February 8, the biggest decline in over a year. On a local level, […]
Homebuyers need to earn $111,000 annually to afford the median-priced home, compared with $76,000 for renters. The median household income is $86,000. While that’s a significant gap, the rent-versus-buy gap is the smallest it has been in 3 years. It’s narrowing as buying gets slightly more affordable and renting gets slightly more expensive. Zooming in, […]
Homebuying affordability is improving nationwide after nearly five years during which it generally worsened. That’s because mortgage rates are lower and home-price growth is muted. Affordability is improving in 37 of the 50 most populous U.S. metro areas. It’s improving fastest in Dallas, where the income needed to buy a home has dropped 7.4% year […]
Seattle and Boston fans traveling to this weekend’s football game would spend the equivalent of three months’ worth of mortgage payments. Seattle renters are spending half a year’s worth of rental payments on going to the game. Boston renters are spending over four months’ rent. For Seattleites traveling to watch their team compete in this […]
The typical Austin home that went under contract in December spent a record 106 days on the market, compared with 60 days nationwide. A decade ago, Austin was one of the fastest markets. Unsustainable price growth in recent years along with a homebuilding boom have left Austin with more sellers than buyers. That means the […]