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2023’s Housing Market Woes Extend into 2024: Low Supply and Unaffordability

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Veros Real Estate Solutions (Veros®), an industry leader in enterprise risk management and collateral valuation services, released its 2023 Q4 VeroFORECASTSM that anticipates nationwide home prices, on average are expected to increase 2.4% over the next 12 months, compared to last quarter’s forecast of a 2.2% increase, signaling a continued rise in prices. VeroFORECASTSM evaluates home prices in over three hundred of the nation’s largest housing markets, and Veros is committed to the data

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US Real Estate Service Market Outlook to 2028

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The “US Real Estate Service Market Outlook to 2028” report has been added to ResearchAndMarkets.com’s offering. The US Real Estate Service market has been experiencing robust growth, driven by a convergence of factors. Historically low mortgage rates encourage more people to buy homes or invest in real estate, as it makes financing more affordable. Low interest rates can increase demand for property and drive market growth. Population growth, especially in urban areas, increases the

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Primerica Household Budget Index™: Middle-Income Households’ Purchasing Power Reaches Break-Even Level

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Spending power improvements a positive sign, yet financial recovery still underway Primerica, Inc. (NYSE: PRI), a leading provider of financial services in the United States and Canada, announced the release of the Primerica Household Budget Index™ (HBI™), a monthly index illustrating the purchasing power of middle-income households with incomes between $30,000 and $130,000. In November 2023, the average purchasing power for middle-income households was 100.5%, up from 99.1% in October.

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The Pandemic-Driven Migration Boom Is Waning, With the Share of Homebuyers Relocating at Lowest Level in 18 Months

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Redfin reports the share of homebuyers moving to a different metro area is coming down from a peak as it becomes less feasible to work remotely The share of U.S. homebuyers looking to move to a different metro area declined for the third straight month in November, dropping to 23.9%. That’s the lowest share in a year and a half, according to a new report from Redfin (redfin.com), the technology-powered real estate

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Redfin Reports Only 16% of Home Listings Were Affordable for the Typical Household in 2023

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Housing affordability is expected to improve in 2024 as mortgage rates fall and more homes go up for sale Just 15.5% of homes for sale in 2023 were affordable for the typical U.S. household—the lowest share on record, according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. That’s down from 20.7% in 2022 and more than 40% before the pandemic homebuying boom. The number of affordable homes for sale also

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HOME AFFORDABILITY REMAINS DIFFICULT ACROSS U.S. DURING FOURTH QUARTER EVEN AS PRICES DIP DOWNWARD

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Major Home-Ownership Expenses Again Require One-Third of Average Wage Nationwide, a 16-Year High;Historical Affordability Also Stays at Worst Point Since 2007;But Both Measures End Nearly Three-Year Slide Amid Mixed Trends in Home Prices and Mortgage Rates ATTOM, a leading curator of land, property, and real estate data, released its fourth-quarter 2023 U.S. Home Affordability Report showing that median-priced single-family homes and condos remain less affordable in the fourth quarter of 2023

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