Housing Affordability Becomes Debate Topic in 2024 Presidential Election
Presidential candidates are tackling affordability issues as home price-to-income ratio reaches record high
Mortgage Rate Declines Could Boost Home Sales Following Months of Low Activity
Encouraging economic news bumped mortgage applications up by 2.6% for the week ending May 3
Gen Z Feels Weight of US Debt Burden While Trying to Enter Housing Market
Current US debt has surpassed levels reached in the aftermath of World War II, with Gen Z bearing the brunt
Residential Building Wages Rise Again in March
Wage growth for residential building workers continued during March, but at a slower pace than during the previous month
Housing Share of GDP in Q1 2024 Rises Above 16%
The increase marks the first time GDP has surpassed 16% since 2022
Shelter Costs Drive Inflation Higher Than Expected in January
January Consumer Price Index data show inflation increased more than anticipated as shelter costs continue to rise despite Federal Reserve policy tightening
Economics
Mortgage Activity Drops to Lowest Level
Despite a decline in rates, mortgage demand declined to its lowest level since the pandemic started.
Demographics
Majority of Young Adults Plan to Use Their Savings Toward Homeownership
A recent Zillow survey found three in five Millennials and Gen Zers will use their money saved during the pandemic toward a down payment on a home…
Market Data + Trends
Home Sales Return Strong in May to the Industry's Surprise
In an unexpected turn, home sales came back strong in May after several months of relaxing sales. From April to May, pending home sales increased…
Economics
Consumer Confidence Back to Pre-Pandemic Levels
Consumer confidence reached pre-pandemic levels in May despite short-term inflation expectations. The Conference Board’s Consumer Confidence Index…
Market Data + Trends
Single-Family Home Prices Up 14.6% in April Nationwide
Home price gains reached the top quartile of growth historically in April as home prices increased 14.6% year over year. That’s up from March’s 13…
Economics
If Time Really Was Money, Homes are 50% Cheaper Than in 1980
Could housing be more affordable today than 40 years ago when the median home price was $64,600? By analyzing affordability through the lens of “…
Remodeling
Homeowners Spent 15% More on Home Improvements in 2020
With little to do and lots of time, Americans were forced to reevaluate their living spaces when the pandemic came around. It resulted in a home…
Market Data + Trends
Has the Housing Market Reached its Peak?
The housing market remains incredibly competitive compared to pre-pandemic times, but buyers have begun to pull back, slightly cooling the market…
Economics
Federal Reserve Chair Says the Economy’s Future Lies in Lumber
Lumber’s twists and turns resulting from the pandemic are Federal Reserve Chair Jerome H. Powell’s guide to the future of the U.S. economy. Last…
Financing
Some Buyers Fear the End of Low Mortgage Rates is Here
Both mortgage rates and applications to refinance a home loan increased slightly last week, reversing course of previous trends. Rates for 30-year…
