Pro Builder
OCTOBER 11, 2022
Is Your Local Housing Market Headed Toward a Home Price Correction? These overpriced regional housing markets are the most likely to see home prices fall in the months ahead. The first group includes high-cost tech hubs like Seattle and San Jose. Housing Markets. Housing Markets. Tue, 10/11/2022 - 10:37.
Pro Builder
APRIL 19, 2023
Middle-income homeowners have seen their properties appreciate by 68% since 2012, amounting to $122,100 in equity wealth, according to the National Association of Realtors. Similarly, low-income homeowners reported $98,900 in equity gains, and upper-income households accrued $150,800 in equity.
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Pro Builder
DECEMBER 5, 2022
Housing Affordability in California Fell to a 15-Year Low in August, but a Market Correction Could Help. Buying a home in California is anything but affordable after a two-year run-up in regional housing costs, but as the market cools, the Golden State is seeing a complete reversal in home price growth. Housing Markets.
Pro Builder
MARCH 11, 2022
homes were valued at $1 million or more in February, and some metros are reporting a majority of total housing stock in the million dollar range, Forbes reports. Incomes have increased, but not as fast as home prices, which means many people are stuck renting or have to move somewhere more affordable if they want to buy a home.”.
Pro Builder
DECEMBER 22, 2022
Qualifying for a mortgage in today's high-cost housing market requires more income than in years past, but some U.S. On the other hand, prospective buyers in cities like San Jose, Calif., need to have a qualifying annual income of $359,127 to afford monthly payments of $8,380 for a median home price of $1,688,000.
Pro Builder
MARCH 21, 2022
Home prices rose faster than median incomes in the majority of metro areas tracked by Zillow in 2021. metros tracked by Zillow in 2021, compared to just five metro areas where home value appreciation outpaced median income in 2020, CNBC reports. Louis were among the cities with the lowest home value growth to income ratio.
Pro Builder
FEBRUARY 5, 2021
Housing costs are the biggest expense Americans have, with about one-third of the average American salary going toward these. SmartAsset identified the salaries needed in the 15 largest metros to afford an average home payment and not exceed the recommended 36% debt-to-income ratio. Salary Needed to Afford a Home in the Top 15 Metros.
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