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The 2020 Housing Issues Sticking Around This Year

Pro Builder

The 2020 Housing Issues Sticking Around This Year. Low inventory, high home prices, working from home, rising home values—all these factors were a part of the flourishing housing market this year, but will they continue on through 2021? In 2019, the median household income of first-time buyers was $68,703.

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Forbes Reports Record-Breaking Year for the U.S. Housing Market

Pro Builder

Housing Market. Though housing demand will likely remain high into 2022, more inventory and low interest rates could create a more balanced market, according to Forbes Business Council. As of December 2020, there was only a 1.9-month So, what has the potential to shift the market and create a more balanced housing supply?

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How a Housing Shortage and High Prices Are Hurting the Middle Class

Pro Builder

How a Housing Shortage and High Prices Are Hurting the Middle Class. Home prices are quickly exceeding home buyer budgets as limited inventory pushes affordability further out of reach. Buyers with a household income between $75,000 and $100,000 are limited to roughly 51% of total homes listed for sale, compared with 58% in 2019.

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Biden's Promised Changes to the Housing Market

Pro Builder

Biden's Promised Changes to the Housing Market. Mon, 11/09/2020 - 09:28. Along the campaign trail, President-elect Joe Biden promised changes to housing plans in order to create more opportunities for low- and middle-income Americans. Campaign promise: Address racial discrimination in housing. cbroderick.

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The Buying Boom Is Slowing, and Experts Say a Housing Correction Could Follow

Pro Builder

The Buying Boom Is Slowing, and Experts Say a Housing Correction Could Follow. As mortgage rates keep climbing, we may be moving from a housing boom to a housing correction, says top economist Mark Zandi . New home sales in April and May dropped 19% to their lowest level since 2020, and sellers are responding.

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Mortgage Rates Continue to Drop, As Does Affordable Housing Supply

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Mortgage Rates Continue to Drop, As Does Affordable Housing Supply. Fri, 08/07/2020 - 08:53. of new and existing homes sold in the second quarter of this year were considered affordable to buyers with median incomes of $72,900. What does this mean for sales during the remainder of 2020? cbroderick. Read more to find out.

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Housing Affordability Hovers Over Two-Year Low

Pro Builder

Housing Affordability Hovers Over Two-Year Low. Fri, 11/06/2020 - 09:10. Home affordability took a bigger hit in the third quarter of 2020, down to nearly a two-year low. Historically low mortgage rates are not enough to help offset inventory shortages and rising home prices, says the National Association of Home Builders.

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