Affordability

“People across the Unites States continue to feel the squeeze from higher housing costs, but the impact is uneven between regions,” said Anna Zhou, Economist for Bank of America Institute.

According to a new Redfin report, homebuying demand persists as mortgage rates declined for the second consecutive week after the Fed announced it will only modestly hike interest rates.

The single women’s homeownership rate declined in 2022 for the first time since 2016, with a slide of 4.1 percentage points from its peak of nearly 27% in 2021.

According to a Point2 study, American respondents said transitioning from a condo to a house would be easier in 20 of the largest U.S. cities analyzed.

Across America, rent control policies reduce investment and development, according to a study from the National Apartment Association that examines how rent control is hurting housing supply nationwide.

Mortgage rates fell for the second consecutive week, spurring a jump in mortgage apps at the outset of the spring homebuying season.

The correlation between the asking price and the size of the down payment is behaving as expected—as the housing market has cooled over the past year, down payment amounts are down by 10%.

"The general rule of thumb is that you shouldn't spend more than 30% of your income on housing, but the data shows that in eight of the 50 largest metros, many renters are doing just that," said Realtor.com Chief Economist Danielle Hale.

The dip in mortgage rates has kicked the spring homebuying season off on the right foot, as the MBA reports overall app volume on the rise for the third straight week, amid uncertainty over the health of the banking sector.

According to a new CoreLogic report, single-family rent price growth was up by nearly 6% year-over-year in January, marking the lowest rate of appreciation since the spring of 2021.