Homebuyer affordability worsened in January for the first time in seven months, despite mortgage rates hitting a three-year low. Processing Content The national median payment applied for by purchase applicants rose from $2,025 in December to $2,070 last month, according to the Mortgage Bankers Association’s Purchase Applications Payment Index. That’s on par with levels recorded […]
Homebuyer affordability dips after seven-month run Read More »
Citi is pledging more than $60 billion to a new initiative focused on improving housing affordability. Processing Content The bank announced Tuesday its Blueprint for Housing Opportunity plan, a five-year commitment dedicated to increasing the housing supply through the creation and preservation of at least 250,000 units across the country. The Citi Foundation also devoted
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Sellers significantly outnumbering buyers in the market and economic uncertainty have caused a record number of home sales to fall through, a new industry report found. Processing Content Nearly 40,000 home-sale agreements were cancelled in January, according to a Redfin analysis of pending sales data. That’s 13.7% of homes that went under contract in the
Buyers back out of home-sale deals at record rate in January Read More »
Sam Hall/Bloomberg Homebuying power is at its highest level in nearly four years, as lower mortgage rates and slowed demand has improved affordability, a new industry report found. Processing Content A median-income household in the United States could comfortably afford a $331,483 home with a 20% down payment in January, $30,000 more than a year
Homebuying power hits highest level in nearly 4 years Read More »
Institutional investors modestly expanded their share of single-family home purchases in December, complicating President Donald Trump’s call to push large buyers out of the market. Processing Content Large investors, those that own between 100-999 properties, accounted for 3% of all single family-home purchases and mega investors, 1,000 or more properties, totaled a 2.8% share in
Institutional home buyers gained ground in December Read More »
An integrated solution involving four key areas needs to come to fruition in order to solve the affordable housing crisis, the National Association of Mortgage Brokers argues in its latest white paper. Processing Content Those points were listed in a document accompanying the white paper and include: Increasing the housing supply Reducing regulatory barriers Lowering
NAMB outlines 4-part housing affordability fix Read More »
President Donald Trump wants to ban big investors from buying more houses. Some local governments are already on the case – and Atlanta is ground zero. Processing Content The Atlanta area has the highest share of corporate-owned single-family rentals in the US, and that’s spooked many locals. Residents fume about the impact on prices. Politicians
Trump plan to improve home affordability faces test in Atlanta Read More »
Affordability continues to improve in 2026, with home-price growth flattening and mortgage rates nearing 6%. Processing Content Early January declines in rates helped push affordability to a four-year high, as the monthly principal and interest payment needed to purchase the average-priced home dropped 7%, or $164, year over year to $2,091, reducing the share of
Affordability hits 4-year high as rates near 6% Read More »
The abundance of sellers in the housing market has given buyers a major advantage, leading to record discounts, according to a new industry report. Processing Content The average homebuyer who purchased a home below the asking price last year received a 7.9% discount, the largest since 2012, Redfin found by comparing original list prices with
Home discounts hit highest level since 2012, Redfin finds Read More »
High prices and more options have pushed home-sale cancellations to a record level, new industry data shows. Processing Content Roughly 40,000 home-purchase agreements were canceled in December, according to a report from Redfin. That’s 16.3% of homes that went under contract, up from 14.9% a year earlier and the highest December rate in records dating
Home-sale cancellations hit record as buyers walk away Read More »