Affordability

According to a new report from Redfin, house hunters moving to a new area make up a bigger piece of the homebuying pie than ever, as record 25.1% of home searchers looked to relocate to a new metro in Q1.

After a five-week string of declining rates, mortgage rates rose modestly for the second consecutive week, on the eve of the GSE’s enacting changes to loan-level price adjustments geared toward tackling housing affordability challenges nationwide.

Mortgage application payments increased 1.6% to $2,093 in March, according to the MBA’s Purchase Applications Payment Index, as many prospective homebuyers continue to delay their decisions to enter the market amid elevated home prices and low inventory.

Profit margins on median-priced single-family home and condo sales decreased to 44.2% nationwide, while home prices remained flat or continued their decline around most of the country, according to ATTOM's 2023 U.S. Home Sales Report.

Boosting curb appeal is a benefit to homeowners’ pocketbooks and well-being. A new study breaks down the data.

While nominal house price appreciation slowed in response to affordability-constrained demand, new data revealed falling house prices could cause foreclosures to jump, according to the First American Real House Price Index,

The U.S. Census Bureau and the U.S. Department of Housing and Urban Development announced new residential sales statistics, revealing a jump in single-family home sales and a dip in the average sales price.

While both conventional and government home purchase applications increased last week, activity remains nearly 30% below last year’s pace, as elevated mortgage rates and low supply continue to moderate the market.

According to Fixr.com's Remodeling 2023 Cost vs. Value Report, new data shows which remodeling jobs had the biggest increases in ROI over the past year, as the home remodeling industry is predicted to reach a market size of $485 billion in 2023.

While expensive markets in the West saw significant declines, prices in more affordable areas like the Midwest continued to rise, as affordability helps shape housing demand and lower-cost areas continue to see stronger rent growth.