Home prices grew 0.5% in April, the sixth consecutive month of similar increases. Elevated mortgage rates are curbing homebuyer demand, but prices continue to tick up because there aren’t enough homes for sale. U.S. home prices climbed 0.5% from a month earlier in April on a seasonally adjusted basis, and rose 7.3% from a year […]
U.S. Home Prices Continue Their Ascent, Even as High Costs Deter Homebuyers Read More »
The median home sale price rose 6% year over year to $434,000 as a lack of new listings buoyed prices. The total number of homes for sale hit a four-year high, but that’s partly because some houses are sitting stale on the market after being priced too high. 18% of homes for sale in April
U.S. Home Prices Hit an All-Time High in April Read More »
Demand for second-home mortgages fell twice as fast as mortgage demand for primary homes, as housing costs rose to new heights. An early look at this year’s data shows that demand for vacation homes hasn’t picked up in 2024; interest in second-home mortgages has been sitting near an 8-year low all year. Many of the
Demand For Vacation-Home Mortgages Fell 40% in 2023 As Housing Costs Rose to Record High Read More »
Roughly 1 in 5 new mortgages went to low-income homebuyers in 2023, down from 23% in 2020. Meanwhile, high-income buyers have gained share because they’re more prepared to weather the storm of high home prices and mortgage rates. Roughly one in five (20.6%) new mortgages issued last year went to low-income Americans, bringing that group’s
Low-Income Americans Have Lost the Homebuying Progress They Made During the Pandemic Read More »
White people took out 62% of new mortgages last year, down from 64% in 2022 and 70% in 2018. Meanwhile, the share taken out by Hispanic, Black and Asian buyers ticked up. People of color are taking out a rising share of mortgages because an increasing share of them are of prime homebuying age, and
The Pool of People Taking Out Mortgages In America Is Becoming Less White Read More »
Many U.S. homeowners couldn’t afford to buy their home if they were to purchase it today because home prices have doubled over the last decade, and monthly housing costs are at an all-time high due to elevated mortgage rates. Nearly two of every five (38%) homeowners don’t believe they could afford to buy their own
Nearly 40% of Homeowners Couldn’t Afford Their Home If They Were to Buy It Today Read More »
