There have been only two months in the past decade with fewer home sales. High home prices, elevated mortgage rates and an ongoing housing shortage are deterring buyers. The median U.S. home sale price hit a record high in May as demand continued to outpace supply, with the number of homes for sale roughly 25% […]
Home Sales Fell to One of the Lowest Levels on Record in May Read More »
More homes are sitting on the market for at least 30 days without going under contract, as homebuying demand falters in the face of high housing costs. More than three in five (61.9%) homes that were on the market in May had been listed for at least 30 days without going under contract. That’s up
More Than 3 in 5 Home Listings Are Now ‘Stale’ As Record-High Costs Dampen Demand Read More »
A new-construction boom is contributing to listings surging to pre-pandemic levels on Florida’s west coast, cooling competition during a period when natural disasters and rising insurance costs are already discouraging homebuyers. But while high housing costs are hampering many U.S. housing markets, Rochester and Buffalo are heating up, with homebuyers attracted to relatively low prices.
Millennials, Gen Xers and baby boomers all ranked the overall economy as the top issue in their presidential pick. Preserving democracy was more likely than housing affordability to weigh on Gen Xers’ and boomers’ minds. More than nine in 10 (91%) adult Gen Zers say housing affordability is important when considering who they will vote
U.S. renters are less likely to move than they were a decade ago, as soaring housing costs have priced many out of homeownership. The rise of remote work is another factor leading more people to choose the renting lifestyle, for flexibility and convenience. Most U.S. renters move within five years, but they’re more likely to
The typical home in areas with LGBTQ+ housing protections costs $492,290, compared with $357,010 for the typical home in areas without protections. San Francisco and Portland, OR have the highest share of LGBTQ+ adults, yet less than 7% of homes in those places are affordable for someone on the local median income. Detroit and Rochester
