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March 27, 2024
Young Americans who have the means are turning to family for help with down payments as housing costs soar. Working a second job is also a popular way to save for a down payment, with 2 in 5 millennials and Gen Zers doing so. More than one-third (36%) of Gen Zers and millennials who plan […]
March 26, 2024
Buyers need to earn $114,000 to afford the typical U.S. home—35% more than the typical household makes. But that’s an improvement from October, when buyers needed to earn a record $121,000—51% more than the median household income. Mortgage rates have come down from their recent peak, giving buyers a bit more purchasing power, but affordability […]
March 21, 2024
The supply of homes for sale is picking up in time for spring homebuying season, and improving inventory is attracting some buyers. The total number of U.S. homes for sale climbed 5%, the biggest year-over-year uptick since May 2023, during the four weeks ending March 17. New listings rose 15%, the biggest increase since June […]
March 19, 2024
While mortgage rates remain elevated, they’re not as volatile as they were at the height of the pandemic, which has helped stabilize home price growth. Home price growth is finally back to where it was before the pandemic following a three-year rollercoaster ride in which prices soared when ultra-low mortgage rates fueled a homebuying frenzy […]
March 15, 2024
Housing supply is finally rebounding as sellers get used to elevated mortgage rates, but it’s not rebounding enough to curb home price growth. High housing costs mean many house hunters remain hesitant to commit. New listings jumped 3.8% month over month on a seasonally adjusted basis in February—the biggest increase in six months—to the highest […]
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