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Housing Affordability

U.S. Asking Rents Fell Slightly in March, But Tariffs Could Drive Up Costs for Renters

The median asking rent dropped 0.6% year over year to $1,610, the 13th-straight month in which rents have been fairly stable. New tariffs could increase rental demand and hamper rental supply, which would cause rents to rise. The median U.S. asking rent fell 0.6% year over year to $1,610 in March, and rose 0.4% month […]

U.S. Asking Rents Fell Slightly in March, But Tariffs Could Drive Up Costs for Renters Read More »

Homebuyers Need to Earn Over $50,000 More Than Renters to Afford Monthly Payments—And the Gap Is Widening

Americans need an annual income of $117,000 to afford the typical home for sale. That’s 82% more than they need for the typical rental, up from 73% more last year. The gap is widening because home prices are rising faster than rents. The gap is widening most in Salt Lake City and Austin, and shrinking

Homebuyers Need to Earn Over $50,000 More Than Renters to Afford Monthly Payments—And the Gap Is Widening Read More »

Hispanic Home Values Top $2 Trillion, But Growth Lags Behind Other Groups as Sun Belt Housing Markets Soften

The total value of homes in majority-white neighborhoods grew 5.4% year over year in 2024 to $40.4 trillion. It grew nearly as fast in majority-Black neighborhoods, rising 5.3%.  Home values also grew in majority-Asian neighborhoods, but at a slightly slower pace; the total value of homes in majority-Hispanic neighborhoods grew the slowest, rising 4.2% to

Hispanic Home Values Top $2 Trillion, But Growth Lags Behind Other Groups as Sun Belt Housing Markets Soften Read More »

1 in 5 Homebuyers Expect to Sell Stocks to Fund Down Payment: Redfin Survey

Homebuyers are more likely than renters to use stock investments to pay for housing, according to a Redfin survey.  With stock values dropping, would-be homebuyers may back off as their bank accounts shrink and their confidence in the economy is shaken.  One in five (20%) prospective homebuyers expect to sell stocks to help fund their

1 in 5 Homebuyers Expect to Sell Stocks to Fund Down Payment: Redfin Survey Read More »

Tariffs Push Mortgage Rates Down, Upping Homebuyers’ Purchasing Power While Amping Economic Uncertainty

Mortgage rates have dropped to their lowest level in six months in the aftermath of President Trump’s newly announced tariffs. For weary homebuyers who have been waiting for a break in housing costs, the decline ups their purchasing power.  A homebuyer on a $3,000 monthly budget can afford a $458,750 home with a 6.55% mortgage

Tariffs Push Mortgage Rates Down, Upping Homebuyers’ Purchasing Power While Amping Economic Uncertainty Read More »

68% of Condos Sold Below List Price in February—the Highest Share in 5 Years

The condo market has been slowing due to surging insurance costs and HOA fees, which have priced many buyers out. It has also become more common for townhouses and single-family homes to sell below list price as buyers gain negotiating power amid rising inventory and high housing costs. Roughly two-thirds (68.4%) of U.S. condos that

68% of Condos Sold Below List Price in February—the Highest Share in 5 Years Read More »

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