Affordability

In a letter to HUD Secretary Marcia L. Fudge, the Chair of the Housing Financial Services Committee said the supply of the nation’s affordable housing should be a top priority.

According to a new LendingTree study, although home prices are starting to come down in many parts of the country, housing will likely remain out of reach for most buyers looking to purchase a home.

A new Redfin analysis revealed homebuyers nationwide must earn even more money than they did a year ago in order to purchase a typical U.S. home.

The MBA reports that credit standards are becoming more restrictive, as its Mortgage Credit Availability Index drops to its lowest level since March of 2013.

Nearly 60% of all Opportunity Zones performed better than the national market according to ATTOM's Q3 2022 report, while values are up an estimated 15% year-over-year in nearly half of the zones analyzed.

"With interest rates now at their highest level in 20 years, the refi market is rapidly approaching a bottom," said Scott Happ, President of Optimal Blue, a division of Black Knight.

The latest report from Redfin revealed inflation has begun to slow, which is helping moderate mortgage rates. However, experts predict that a longer trend of lower inflation is needed for sustained nationwide rate relief.

According to House Method’s most recent servicemember survey, respondents remained relatively optimistic about their chances of buying a house while being in the military.

According to the latest market report from ShowingTime, homebuyer foot traffic and in-person showings decreased from September, as rising rates and inventory challenges continue to discourage buyers from purchasing a home.

Affordability continued to hamper first-time buyers looking to purchase a home during Q3. A new report revealed single-family existing-home sales prices grew in nearly every metro analyzed, with the national median home price climbing nearly 9% from 2021.