article thumbnail

Forbearance Exits Expected to Add Inventory

Pro Builder

Forbearance Exits Expected to Add Inventory. A wave of inventory could come soon as hundreds of thousands of homeowners are expected to exit forbearance, with a significant share likely to list their homes. This not only benefits the market’s inventory problem, but homeowners can benefit from the significant price appreciation.

article thumbnail

Will the US Fill Its Shortage of Affordable Homes?

Pro Builder

will fill its shortage of affordable homes, a gap that widened by more than 500,000 units during the pandemic to what the National Low Income Housing Coalition estimates is a national shortage of 7.3 million homes for extremely low-income renters, The New York Times reports. Costs for materials and labor remain stubbornly high.

US 86
professionals

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Will the US Fill Its Shortage of Affordable Homes?

Pro Builder

will fill its shortage of affordable homes, a gap that widened by more than 500,000 units during the pandemic to what the National Low Income Housing Coalition estimates is a national shortage of 7.3 million homes for extremely low-income renters, The New York Times reports. Costs for materials and labor remain stubbornly high.

US 52
article thumbnail

10 of the Hardest Metros to Snag a Home

Pro Builder

market while housing inventory is down, resulting in a competitive market, but these metros are the most competitive. SmartAsset identified the hardest places to purchase a home in America by analyzing the affordability, inventory, and pricing levels of the top 50 U.S. Coronavirus Resources and Information. Read More. .

Metro 52
article thumbnail

Home Prices Increase 17.2%—Is the Housing Market in a Bubble?

Pro Builder

Bubbles are driven by irrational behaviors driving up prices, yet the housing market’s price acceleration can be pinpointed to low inventory. Debt as a percentage of personal income has dropped to 85.3% The ratio of total required mortgage service payments to total disposable income has plummeted to 3.97 from a peak of 117.1%

Housing 52
article thumbnail

How Employer-Assisted Housing Programs Are Paving a Path to Homeownership

Pro Builder

The rate of homeownership fell to just 38% for first-time buyers in 2021 as a result of record high housing costs, record low inventory, and stagnant wage growth across the U.S. Human Resources. Employer-assisted housing (EAH) programs offer incentives for employees making home purchases. New-Home Sales. Housing Policy + Finance.

article thumbnail

Is the American Dream Becoming Less Achievable?

Pro Builder

As home prices continue on an upward track, housing inventory only stretches thinner, and as the economy remains weak, this may not be the ideal time for first-time buyers. The median household income was just $63,179 in 2018, according to the latest U.S. CORONAVIRUS: RESOURCES AND INFORMATION. cbroderick. Census data.

Income 72