Pro Builder
MARCH 9, 2022
First-time buyers struggled the most in the wake of record high home prices and a lack of starter inventory, but metros like Pittsburgh and Cleveland offered some relative affordability. times median first-time buyer income, Cleveland (3.1), St. times median first-time home buyer income and 5.3
Pro Builder
AUGUST 20, 2021
There’s rebalancing in the for-sale market as well with inventory increasing for the third consecutive month and home value growth slowing in many of the largest markets. Inventory Rebound Continues. For-sale inventory, while still down 27.6% If there had been no pandemic, Zillow predicted rents would be 2.9% Read More. .
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Pro Builder
APRIL 1, 2021
Rapid growth in the most-affordable segment of the market is not a particularly new phenomenon — these homes have long been in high demand from budget-conscious buyers, and it can be difficult for builders to profitably build in these segments, further restricting already-tight inventory. and the top third grew by 9.8% percentage points.
Pro Builder
SEPTEMBER 23, 2021
Louis, MO; Pittsburgh, PA; Orlando, FL; and Cleveland, OH metro areas round out the top five markets where the cost of buying was lower than the monthly rent. . Birmingham, AL tops the list of markets that favor buying, where the monthly cost of buying a “starter” home was $728 in July, which was 33.1%
Pro Builder
JULY 28, 2021
Chicago, Cleveland and Minneapolis reported the lowest gains, although they were still in low double-digits. “A Five cities – Cleveland, Dallas, Denver, Seattle and Charlotte, North Carolina – saw their all-time highest annual gains. The inventory of homes for sale has finally started to increase, albeit slowly. Read More. .
Pro Builder
JUNE 30, 2021
Five cities – Charlotte, North Carolina, Cleveland, Dallas, Denver and Seattle – saw their largest annual gains ever. “We The inventory of homes for sale rose slightly in May compared with April, but was still 21% lower than May 2020, according to the National Association of Realtors.
Pro Builder
JUNE 8, 2022
Even as rising mortgage rates put a damper on heated buyer competition, inventory remains below pre-pandemic rates, meaning that prices might not fall as quickly as many priced-out buyers may have hoped. Other affordable metros include: Cleveland (3.1), Detroit (3.5), Buffalo, New York (3.6); and Baltimore (3.7). Affordability.
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