That’s down from a peak of 125 hours when rents hit a record high in 2022. New Hampshire’s minimum-wage workers have to toil longest to afford the median-priced apartment, while South Dakota’s workers fall on the other end of the spectrum. The average minimum-wage earner in the U.S. would have to work 106 hours per […]
The increase in purchasing power is modest, but along with a pileup of housing supply in some parts of the country, it marks an opportunity for buyers. A homebuyer on a $3,000 monthly budget can afford a $446,000 home with a 6.9% mortgage rate, roughly the daily average on February 21. That’s the lowest daily
The combined value of U.S. homes climbed to $49.7 trillion in 2024. The total value of homes owned by millennials grew to nearly $10 trillion, representing more than 20% of the U.S. market. Two upstate New York metros—Albany and Rochester—had the fastest growth in aggregate home value, while Florida metros grew more slowly. San Diego
U.S. Housing Market Gained $2.5 Trillion in Value in 2024 Read More »
There were 3.7 months of for-sale supply on the market in January, the most in six years. An increase in supply and drop in homebuying demand has tilted the national market in favor of buyers, with listings starting to pile up in many areas across the country. Florida metros top the list of buyer’s markets,
It’s a Buyer’s Market. For Many Homebuyers, It Doesn’t Feel Like It. Read More »
Home prices grew 0.6% month over month in January, equal to the quickest pace since November 2023. On a year-over-year basis, home prices rose 5.4%—the slowest pace since August 2023. Ten of the 50 most populous U.S. metros recorded a drop in home prices month over month, led by Tampa (-1.6%). U.S. home prices rose
U.S. Home Prices Grew 0.6% in January Read More »
The percentage of U.S. home purchases made in cash fell to 32.6% in 2024, a three-year low, as the total number of all-cash purchases dropped to its lowest level in a decade. Florida homebuyers were most likely to pay cash. Just under one-third (32.6%) of U.S. home purchases were made in cash in 2024, down
Less Than One-Third of U.S. Home Purchases Were Made With Cash in 2024, a 3-Year Low Read More »
