Renters need to earn $63,680 to afford the median asking rent for a U.S. apartment—the lowest income required since early 2022. Texas metros Austin, Houston and Dallas are the most affordable for renters, while Providence, Miami and New York are the least affordable. The typical renter earns enough to afford the median rent in 15 […]
In Cleveland, prices jumped 15% year over year in December—the biggest increase among the 50 most populous metros. Next came Milwaukee and Philadelphia. Florida is home to the three metros where prices rose the least. Home prices rose from a year earlier in all 50 of the most populous U.S. metropolitan areas in December—the first
Home Prices Are Rising in Every Major Metro for the First Time Since 2022 Read More »
Pending home sales dropped 4.5% from November as mortgage rates jumped to the highest level in months. Roughly 40,000 home purchases were called off in December, equal to 16% of homes that went under contract—the highest December percentage on record. Existing home sales—a lagging indicator of deals that were negotiated in prior months when mortgage
Pending Home Sales Fell the Most Since 2022 in December as Mortgage Rates Jumped Read More »
The median asking rent fell 0.3% year over year in December to $1,594, the lowest since March 2022. Austin, TX posted the biggest decline, with asking rents down 16%, followed by Tampa and Jacksonville. Rents rose most in Providence, RI, Virginia Beach and Louisville. Property owners are lowering rents to attract tenants as an influx
U.S. Asking Rents Ended 2024 at the Lowest Level in Nearly Three Years Read More »
A household earning the median U.S. income would have had to spend 41.8% of their earnings on monthly housing costs to buy the typical home in 2024, a slight improvement from 42.2% in 2022. A homebuyer needed to earn an annual income of at least $116,782 if they wanted to spend no more than 30%
Over half of home listings last month sat on the market for 60 days or longer—the highest November share since 2019. That’s a major reason housing supply jumped 12%. Active listings—the total number of homes for sale—climbed to the highest level since 2020 in November on a seasonally adjusted basis, rising 0.5% month over month
