Tag Archives: Affordable Homes

According to Redfin's latest Housing Market Update, inclement weather that froze parts of the U.S. slowed overall homebuying activity recently. Conversely, agents in warmer regions report that buyers and sellers remain active, despite mortgage rates remaining in the high-6% range.

According to the RE/MAX National Housing Report, home sales dropped year-over-year in December, but experts project that with mortgage rates continuing their downward trend, homebuyers that have been priced out or pushed to the sidelines may begin to creep back into the market.

As Americans continue, "grappling with limited purchasing power," according to Redfin Senior Economist Sheharyar Bokhari, housing supply remained below pre-pandemic levels in December, preventing home prices from dropping further as buyers continue to compete for a limited supply of homes for sale.

A prominent trend in renowned U.S. metros like Washington, D.C., New York, and Dallas, a new report revealed the conversion of office buildings into living spaces is projected to surge to a new record high in 2024, having more than quadrupled in the past four years.

Like the generation that precedes them, members of Gen Z are concerned about affordability, according to a new Point2 study, which revealed the cities and regions where the youngest Americans have the best chance of achieving homeownership.

Renting and/or owning a home continues to be a financial burden for average U.S. workers, according to ATTOM’s 2024 Rental Affordability Report, which showed that rents are growing faster than wages in most markets, outpacing home prices in nearly all of them.

The U.S. Department of Housing and Urban Development’s Office of Housing Counseling revealed that the millions in available grants will help expand housing counseling services and provide comprehensive financial literacy, homeownership, and affordable housing support to underserved communities.

While the average homebuyer can now afford to spend even less on a home, a new Point2 study revealed that the median home price in the U.S. is now 50% higher than the average affordable home price.

Kurt Carlton of New Western explains how real estate investors may be able to help address the nation’s housing supply shortage.

Redfin reports that many home sellers are getting just two or three offers as opposed to the 20 that were common at the pinnacle of the market. Find out what percentage of homes for sale posted a price drop during the past month.