The share of first-time homebuyers fell to 26% in November 2021, the lowest since January 2014. Around 24% of existing homes were purchased with all cash--only 7% of first-time home buyers could afford this approach compared to 30% of non-first-time buyers.
Rents for single-family homes are rising three times as fast as they were a year ago
Rental prices for single-family homes rose 10.9% on average, a three-fold increase over October 2020. Rent increases were highest in Miami (29.7%), followed by Phoenix (19.3%) and Las Vegas (16.5%).
Mobile-Home Values Have Been Migrating Upward at Breakneck Speed
The national median value of a mobile home in 2019 was $53,000, about $180,000 less than a traditional home. That was a 39% spike over the median value in 2014, while traditional homes rose by 33% over those five years.
ZILLOW is Manipulating the Housing Market. They Need to Stop.
The US Housing Market has never been more expensive in 2021. Home prices are at an all-time high relative to wages and rents. Home buyers and real estate inv...
Rent or Buy? Buying a Starter Home More Affordable in Nearly Half of the Biggest Metros
Surging rents and low mortgage rates mean that the monthly cost of buying a starter home is more affordable than renting in nearly half of the biggest housing markets across the country.
South Carolina Could See a 10% Increase in Rental Vacancies When Eviction Moratorium Ends
States with a large number of renters at risk of eviction and very few vacant homes for rent could see the biggest disruptions to their housing markets.
A sharp increase in existing-home prices kept more buyers on the sidelines, contributing to the fourth straight month of declining sales of previously owned homes.
Some residents have left the state, but many others have just moved out of big cities in search of more space and lower prices, creating hot spots in the suburbs and the once-sleepy exurbs.
Cities Need Housing. Parking Requirements Make it Harder.
California was a pioneer in minimum parking mandates, which drive up housing costs and climate emissions. Now the state is ready to lead the nation in reclaiming our cities from parking lots.