Affordability

“The divergence in home price changes across the U.S. reflects a tale of two housing markets,” said Selma Hepp, Chief Economist at CoreLogic.

A new study from Zillow revealed that certain amenities and devices such as doorbell cameras, “she sheds,” soapstone countertops, and luxury kitchen appliances can help sell a home up to five days faster.

The U.S. Department of Housing and Urban Development announced the commencement of Fair Housing Month 2023, honoring the 55th anniversary of the signing of the Fair Housing Act, as well as modern efforts to advance equity in housing and protect fair housing rights.

As lenders continue to navigate one of the trickiest economies to date, Sarah Davies of Nova Credit discusses the significant progress in pulling back the layers and reexamining its risk management practices.

While the share of adults behind on rent surpassed eight million nationwide, a new LendingTree study revealed an estimated 3.6 million Americans currently live rent-free, another financial alternative to combating inflated housing costs.

While homeownership affordability remains weak throughout the U.S., ATTOM's Q1 2023 U.S. Home Affordability Report revealed the nationwide median single-family home and condo price is up less than 1% from Q4 2022 to Q1 2023.

As high mortgage rates and inflated home prices persist, a new report from the Mortgage Bankers Association revealed the national median payment applied for by purchase applicants increased nearly 5% in February.

According to Realtor.com's Monthly Housing Market Trends Report, home sellers were less active in March, with 20.1% fewer homes being listed for sale compared to last year.

"Nationally, annual nominal house price growth peaked in March 2022 at 21 percent, but has since decelerated by nearly 17 percentage points to 4.4% in January,” said First American Chief Economist Mark Fleming.

Freddie Mac reports that mortgage rates have fallen for the third consecutive week, however prospective buyers have been handcuffed by a short supply of housing inventory.