Ballooning mortgage costs, driven by skyrocketing prices and interest rates, have made mortgages less affordable than at any time since at least 2007. Demand for homes has pulled back in response, easing price growth, slowing sales and boosting inventory, according to the latest market report from Zillow. Mortgage rates shot up in early June, averaging
Study shows homeownership still more affordable than renting in most parts of the U.S.
Rising home prices and the issues that causes for housing affordability have attracted plenty of headlines over the past year. But homeownership is still more affordable than renting in most markets, according to the latest study by ATTOM Data Solutions. The study found that owning a media-priced, three-bedroom home is more affordable than renting an
Housing affordability shrinks for average wage earners
Analysis of the housing market shows that housing affordability shrank again in 2021, though the average wage earner in most U.S. counties can still afford to buy. The National Association of Realtors’ December Housing Affordability Index shows that surging demand for a very limited inventory of homes is fueling higher home prices, resulting in a
Tough Questions Arise Out of An Unprecedented Affordability Crisis
Blackstone Real Estate just acquired affordability innovators Home Partners of America for $6 billion. Here’s why this is big news.
More renters can afford to buy a home, NAR says
The National Association of Realtors says the number of renters who’re in a position to buy their first home has increased in the last two years. However, it says homeownership remains difficult for many to attain due to the need for a large down payment. In its latest Economists’ Outlook blog post, the NAR said
NAHB Reveals Top Five Most/Least Affordable Major Housing Markets
Housing affordability in the US remained close to its all-time record highs in the first quarter of 2013, according to the latest National Association of Home Builders/Wells Fargo Housing Opportunity Index.