Decline in mortgage rates lead to lower income needed to afford home in NYC: report - QNSDeclining mortgage rates significantly reduced the income needed to buy a home in New York City by over $10,000 year-over-year. Buyers gain more negotiating power.
How Much Money Do You Need To Make To Buy In Manhattan?Potential Manhattan homebuyers need to have an income of at least $308,449 to afford a home.A significant gap exists between median household income in Manhattan and what is needed to buy a typical apartment.
Calif. city tops nation with more than 70% of homes valued over $1MThe proportion of million-dollar homes in California cities has reached historic highs, significantly affecting home affordability.
You Would Need a Second Job to Afford Buying a Home in This NeighborhoodHome prices have surged 47% since early 2020, making affordability a concern for potential buyers.
Q2 Affordability Obstacles Hinder Would-Be First-Time Home BuyersFirst-time home buyers are facing unprecedented challenges in affordability compared to repeat buyers, with housing payments taking up nearly half of their income.
Pending home sales hit record low in July as high prices sideline potential buyersPending home sales for US previously owned homes hit a record low in July due to high prices and borrowing costs.
Decline in mortgage rates lead to lower income needed to afford home in NYC: report - QNSDeclining mortgage rates significantly reduced the income needed to buy a home in New York City by over $10,000 year-over-year. Buyers gain more negotiating power.
How Much Money Do You Need To Make To Buy In Manhattan?Potential Manhattan homebuyers need to have an income of at least $308,449 to afford a home.A significant gap exists between median household income in Manhattan and what is needed to buy a typical apartment.
Calif. city tops nation with more than 70% of homes valued over $1MThe proportion of million-dollar homes in California cities has reached historic highs, significantly affecting home affordability.
You Would Need a Second Job to Afford Buying a Home in This NeighborhoodHome prices have surged 47% since early 2020, making affordability a concern for potential buyers.
Q2 Affordability Obstacles Hinder Would-Be First-Time Home BuyersFirst-time home buyers are facing unprecedented challenges in affordability compared to repeat buyers, with housing payments taking up nearly half of their income.
Pending home sales hit record low in July as high prices sideline potential buyersPending home sales for US previously owned homes hit a record low in July due to high prices and borrowing costs.
Realtor.com addresses housing supply gap in new reportU.S. housing completions rose to 1.6 million in 2024 but still face a 3.8 million home shortage.Young households struggle to buy homes due to the significant housing shortage.
The Typical House in This Small American Town Costs Over $3.7 MillionThe U.S. housing crisis is primarily driven by low inventory and high prices, exacerbated by recent economic challenges.
22 cities where homebuyers and owners will benefit most as interest rates tumbleHome affordability has improved due to declining mortgage rates, encouraging both buyers and owners to reengage with the market.
18 cities with reasonably priced homes that will be million-dollar markets in the next decadeHome prices have surged over the last decade, significantly impacting home affordability for buyers.
Realtor.com addresses housing supply gap in new reportU.S. housing completions rose to 1.6 million in 2024 but still face a 3.8 million home shortage.Young households struggle to buy homes due to the significant housing shortage.
The Typical House in This Small American Town Costs Over $3.7 MillionThe U.S. housing crisis is primarily driven by low inventory and high prices, exacerbated by recent economic challenges.
22 cities where homebuyers and owners will benefit most as interest rates tumbleHome affordability has improved due to declining mortgage rates, encouraging both buyers and owners to reengage with the market.
18 cities with reasonably priced homes that will be million-dollar markets in the next decadeHome prices have surged over the last decade, significantly impacting home affordability for buyers.
It Will Take 7 Years To Fix the Housing Shortage at Current Construction Pace, Economists SayThe U.S. housing shortage could take over seven years to resolve based on current construction rates.
California affordability fixes: 3.5% loans, 50% raises, or 33% home-price cuts?California's homebuying affordability crisis demands dramatic changes, including lower mortgage rates, higher incomes, or decreased home prices.
California affordability fixes: 3.5% loans, 50% raises, or 33% home-price cuts?California's housing affordability crisis requires significant changes in rates, income, or prices to improve the current situation.
Home affordability just hit its lowest point since 2007: Here's where buyers have it the worstHome affordability is decreasing, with housing costs taking up a larger percentage of homeowners' income.
It Will Take 7 Years To Fix the Housing Shortage at Current Construction Pace, Economists SayThe U.S. housing shortage could take over seven years to resolve based on current construction rates.
California affordability fixes: 3.5% loans, 50% raises, or 33% home-price cuts?California's homebuying affordability crisis demands dramatic changes, including lower mortgage rates, higher incomes, or decreased home prices.
California affordability fixes: 3.5% loans, 50% raises, or 33% home-price cuts?California's housing affordability crisis requires significant changes in rates, income, or prices to improve the current situation.
Home affordability just hit its lowest point since 2007: Here's where buyers have it the worstHome affordability is decreasing, with housing costs taking up a larger percentage of homeowners' income.
Here's what $1M gets you in the Midwest, South, East and West Coasts-and the differences will surprise youMidwest offers larger homes for $1 million compared to other U.S. regions due to lower costs of living.
The 10 Markets That Could See the Biggest Home Affordability Gains as Mortgage Rates DropFalling mortgage rates are expected to improve home affordability significantly in certain metro areas, with Lakeland, FL gaining the most.
16 affordable cities buyers should target as home prices rise but stay below peak levelsProcrastinating on home purchases in 2024 could lead to lost opportunities as mortgage rates and property values have risen significantly.
Here's what $1M gets you in the Midwest, South, East and West Coasts-and the differences will surprise youMidwest offers larger homes for $1 million compared to other U.S. regions due to lower costs of living.
The 10 Markets That Could See the Biggest Home Affordability Gains as Mortgage Rates DropFalling mortgage rates are expected to improve home affordability significantly in certain metro areas, with Lakeland, FL gaining the most.
16 affordable cities buyers should target as home prices rise but stay below peak levelsProcrastinating on home purchases in 2024 could lead to lost opportunities as mortgage rates and property values have risen significantly.
How non-QM loans boost mortgage originator for success in 2025The current mortgage market faces significant challenges, with rising interest rates and limited affordability affecting potential homeowners.
Housing market won't come 'unstuck' until 2026, economists predict - here's whyThe US housing market is not expected to improve until at least 2026 without a recession, as stated by Wall Street economists.
The Peninsula may be more affordable now than at the start of 2024 - San Jose SpotlightMidpeninsula home affordability has improved in late 2024, with more households able to purchase homes due to income increases and reduced mortgage rates.
Housing market won't come 'unstuck' until 2026, economists predict - here's whyThe US housing market is not expected to improve until at least 2026 without a recession, as stated by Wall Street economists.
The Peninsula may be more affordable now than at the start of 2024 - San Jose SpotlightMidpeninsula home affordability has improved in late 2024, with more households able to purchase homes due to income increases and reduced mortgage rates.
The YIMBY Victory in Democratic PoliticsNational Democratic politicians are increasingly prioritizing the housing supply issue in response to the affordability crisis.
California home prices hit record highThe median home price in California reached over $900,000 for the first time in April, setting a new record.