NAR affordability index dips for the 3rd straight month

The National Association of Realtors affordability index dipped for the third straight month in May, meaning the typical family had less estimated income to afford a home at the national median price, according to data released Friday.

Pending home sales drop to lowest level since 2014

The National Association of Realtors’ Pending Homes Sales Index fell 7.7 percent year-over-year in November, marking the 11th straight month of annual decreases.

Will declining mortgage rates reverse static home sales?

Mortgage rates continued along their downward trend to end the year, according to the latest data from Freddie Mac, released Thursday.

Which markets will homebuyers be priced out of next?

SmartAsset’s study released on Tuesday shows that homebuyers are starting to be priced out of historically affordable markets such as Dallas, Nashville and St. Louis, thanks to inadequate income growth.

3 ways real estate agents can help renters become homeowners

Here’s how three real estate agents in three distinct markets — New York City, Chicago and Fargo — are helping renters make their dreams come true.

Home affordability at 10-year low

As home price gains have outpaced wage growth and rising interest rates have nudged up mortgage costs, home affordability has dropped to a 10-year low.

Market Report: Flatter Rents and Slowing Values

According to the August Zillow® Real Estate Market Report, home prices and rents slowed as summer wound down, with prices up 6.5 percent year-over-year—a departure from 8.2 percent this spring—and rents unchanged. Based on the Zillow Home Value Index and the Zillow Rent Index, the median price is $216,700, and the median rent is $1,440. […]

The post Market Report: Flatter Rents and Slowing Values appeared first on RISMedia.

Redfin CEO Glenn Kelman: There’s too much money in real estate

Glenn Kelman, Redfin’s CEO and president took the helm of the real estate brokerage 13 years ago, this month. He talks to Inman about the ups and downs.

Affordability Aside, Housing Optimism Picks Up

The confidence consumers have in housing is picking up steam—but not because of the market outright, according to the August Fannie Mae Home Purchase Sentiment Index® (HPSI). At 88, the gauge grew 1.5 percentage points month-over-month; however, the confidence consumers have is on par with the prior year, and they are more keen on macro […]

The post Affordability Aside, Housing Optimism Picks Up appeared first on RISMedia.

Cost of Homeownership Increases 3 Times the Price of Renting

With affordability draining quickly, the gap is growing between the amount of buyers with a desire to purchase, and the amount of buyers who actually can. According to an analysis newly released by realtor.com®, the cost of homeownership has increased more than three times the price of renting today—and, areas in growing numbers are unaffordable. […]

The post Cost of Homeownership Increases 3 Times the Price of Renting appeared first on RISMedia.