Housing Market
Is Price the New Location?
A new nationwide Coldwell Banker survey shows price is more important than location to more than half the surveyed consumers who are looking to purchase a home.
March 13, 2024
A new nationwide Coldwell Banker survey shows price is more important than location to more than half the surveyed consumers who are looking to purchase a home.
A new Redfin report shows a majority of U.S. homeowners and renters say housing affordability will impact their vote in this year’s presidential election.
In a letter to Fed Chairman Jerome Powell, Senator Elizabeth Warren and three other Democratic lawmakers express concerns that high interest rates have worsened the country’s housing access and affordability crisis.
Zillow released a new report showing over 20% of homeowners are now considering selling their homes within three years, largely due to the drop in mortgage rates and overall (though slight) improvement in housing affordability.
Zillow released its top 10 list of the hottest real estate markets for 2024, and Buffalo, New York sits at number one, followed by Cincinnati, Columbus, and other relatively affordable U.S. metros.
A new Redfin report shows just 16% of homes listed in 2023 were affordable for the typical homebuyer—the lowest share on record, down from 21% in 2022. Affordability is expected to improve in 2024 as mortgage rates drop and supply increases.
Two respected analysts, Ivy Zelman and Meredith Whitney, spoke recently on the aging homeowner population and its impact on household growth and the overall U.S. housing market—an impact Whitney described as a “silver tsunami.”
Redfin’s latest report shows a drop in homebuyer migration to different metro areas as remote work options decrease and home prices go up in popular migration destinations. This time, Spokane, WA, made the top 10 list of metros with the highest net inflow.
A home tour video on TikTok has gone viral with its upbeat portrayal of a 600-square-foot “tiny home” in San Antonio selling for $136,900, with an estimated mortgage payment of $1,000 a month. And folks on Twitter and TikTok are taking it personally.
A new Redfin report shows homebuyers now need a household income of $115,000 to afford a median-priced home. That’s roughly $40,000 more than the typical U.S. household earns.
Byron Lazine shares his perspective on a recent RFK Jr Tweet with the president-hopeful’s idea for fixing the U.S. housing affordability crisis, along with some comments on the Tweet and a response from HW’s Logan Mohtashami.
New reports from ATTOM and Redfin show a continued decline in housing affordability, driving the share of average income needed to cover housing costs up to 35% and increasing the number of listings with price reductions.
For daily real estate news, business and marketing.
