Affordability

While economic uncertainties remain a struggle for many Americans, rate hikes continued to slow overall housing market activity in August as mortgage rates reached their highest in over two decades, according to HouseCanary's Market Pulse report.

U.S. home prices experienced the biggest increase in 10 months due in part to a significant lack of inventory, increasing 5% year-over-year. Meanwhile, homes in the popular Miami metro surged 17% from last year.

An analysis of 580k home equity loans by LendingTree showed that cash-back levels vary from state to state.

"Housing choice vouchers are some of the strongest tools we have to help families find stable and affordable housing," said U.S. Department of Housing and Urban Development (HUD) Secretary Marcia L. Fudge. "This year, HUD found that rents rose once again, accentuating the strain on costs for American families.”

A new study reveals that homes marketed through a multiple listing service sell for approximately 18% more than the average asking price.  

A response to the affordable housing crisis should include a focus on bringing existing homes up to adequate standards, analysts from Harvard University’s Joint Center for Housing Studies say.

RentCafe has examined the top U.S. cities that renters with families are settling down in, and of the estimated 68 million Americans raising children while renting, the South overwhelmingly provided them with the best options.

The Black Knight Home Price Index hit another all-time high in July, with the annual rate of growth jumping to +2.3% from a revised +0.9% in June

After the fixed-rate mortgage hit levels recorded 21 years ago, Freddie Mac reported a five-basis point week-over-week slip in rates, and despite continued high rates, the nation’s short supply is keeping house prices steady.

A new mortgage report from ATTOM revealed U.S. lenders issued approximately $494 billion worth of residential mortgages in Q2 of 2023, while total activity rose after eight straight quarterly declines to 21%.