After dropping for two consecutive years, the share of young adults living at home is back on the rise; this might make it easier for them to save for a down payment on a home.
Data from the 2023 Profile of Home Buyers and Sellers shows the makeup of households and how relationships play a role in shaping homebuying decisions.
As anticipated, the Federal Reserve did not alter its short-term interest rate today, keeping it at 5.375%.
Single women home buyers are surpassing all odds in the housing market and purchasing homes with lower household incomes in an increasingly unaffordable housing market.
The monthly mortgage payment decreased by 2.7% compared to the prior month, while the median price of single-family homes declined by 1.0%.
Home buyers are responding to the lowering of mortgage interest rates with increases in foot traffic and mortgage applications.
At 4.09 million, the annual pace of 2023's existing-home sales was the lowest number recorded since 1995, when it was 3.85 million. A then-and-now comparison highlights the challenges buyers faced in 2023.
This week's mortgage interest rate fell to 6.60%, the lowest in eight months and good news for potential home buyers.
in 2022, 1.6 million people opted to relocate to the suburbs, while another 18,000 chose nonmetropolitan (rural or less densely populated) areas.
As mortgage interest rates have been flat since December 21, home buyers can plan smartly as they enter the buying market.
Search Economists' Outlook