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Housing Affordability

49% of Hispanic Americans Own Their Home, Compared With 74% of White Families–But the Gap Has Narrowed Slightly Over the Last Decade

The Hispanic-white homeownership gap is narrowing as the largest group of Hispanic Americans ages into prime homebuying years. Nationwide, 49.1% of Hispanic families own their home. That’s essentially unchanged from 48.9% just before the pandemic began, but up from 46.3% a decade ago. As the Hispanic homeownership rate increases, the Hispanic-white homeownership gap has narrowed […]

49% of Hispanic Americans Own Their Home, Compared With 74% of White Families–But the Gap Has Narrowed Slightly Over the Last Decade Read More »

More Than 40% of Home Sellers Are Dropping Their Prices in Salt Lake City, Boise, Sacramento and Other Pandemic Hot Spots

Sellers are adjusting their expectations as they realize many buyers are no longer able to afford the type of home they could have before mortgage rates shot up. An increasing share of home sellers are lowering their asking price as rapidly rising mortgage rates cut into buyers’ budgets and homebuying sentiment drops. Price drops are

More Than 40% of Home Sellers Are Dropping Their Prices in Salt Lake City, Boise, Sacramento and Other Pandemic Hot Spots Read More »

Homebuyers on a $2,500 Monthly Budget Have Lost $118,000 in Spending Power This Year Amid Surge in Mortgage Rates

A buyer on a $2,500 budget can afford a $400,000 home with a 6% mortgage rate. That’s compared to a $517,000 home with a 3% mortgage rate. A homebuyer on a $2,500 monthly budget has lost nearly $120,000 in spending power since the end of last year as mortgage rates have nearly doubled. That buyer

Homebuyers on a $2,500 Monthly Budget Have Lost $118,000 in Spending Power This Year Amid Surge in Mortgage Rates Read More »

Investor Home Purchases Slump 17% From Pandemic Peak as Interest Rates Rise

Surging borrowing costs and home prices prompted real estate investors to pump the brakes in the first quarter. Many are hoping prices will drop so they can get better deals. Still, investors bought a record 20% of homes sold in metros tracked by Redfin as a slowdown in homebuying nationwide allowed them to continue growing

Investor Home Purchases Slump 17% From Pandemic Peak as Interest Rates Rise Read More »

Homebuyer Budgets Flatten, Posting Slowest Annual Growth Rate in Nearly Two Years

Slowing budget growth indicates that home-price growth will slow in the coming months, too.  Homebuyer budgets are essentially flat from last year, up just 0.3% year over year nationwide in the three months ending April 30, the slowest growth rate since June 2020. That’s according to an analysis of the average maximum price set by

Homebuyer Budgets Flatten, Posting Slowest Annual Growth Rate in Nearly Two Years Read More »

Homes With High Fire Risk Sell For Nearly $120,000 More Than Low-Risk Homes As Americans Flock to Fire-Prone Suburbia

The typical high-fire-risk home sold for $550,500 in April, while the typical low-risk home sold for $431,300. That’s the biggest premium since at least 2017. The median sale price of high-risk homes jumped 52% during the pandemic, while the median sale price of low-risk homes rose 41%. High-risk homes sell for more in part because

Homes With High Fire Risk Sell For Nearly $120,000 More Than Low-Risk Homes As Americans Flock to Fire-Prone Suburbia Read More »

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