Pro Builder

FEBRUARY 8, 2022

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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Pro Builder

JUNE 14, 2023

One solution to those challenges is to prioritize new housing development, but even builders are financially strained and face higher costs for materials and labor, tighter lending practices, rising interest rates, and ongoing supply chain disruptions. million homes for extremely low-income renters, The New York Times reports.

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Pro Builder

MARCH 17, 2022

These 13 Housing Markets Could See Decelerating Prices. After consecutive price gains amid limited inventory, some markets are becoming too hot for buyers to handle. Housing Markets. Housing Markets. Thu, 03/17/2022 - 10:22. Lewiston, Maine; Modesto, Calif.; Muskegon, Mich.; Pittsfield, Mass.; Prescott, Ariz.;

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Pro Builder

MARCH 18, 2022

A Frenzied Housing Market Could Persist Beyond the Spring Season. Price hikes and dried up inventory could remain status quo into the summer months, and potentially for the entirety of 2022. But housing economists are clear: This frenzy will eventually end. The housing market will eventually cool. Housing Markets.

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Pro Builder

APRIL 26, 2021

Is the Housing Market in a Bubble? Bubbles are driven by irrational behaviors driving up prices, yet the housing market’s price acceleration can be pinpointed to low inventory. Bubbles are driven by irrational behaviors driving up prices, yet the housing market’s price acceleration can be pinpointed to low inventory.

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Pro Builder

MAY 11, 2022

The Housing Market Is Still Hot, But Experts Say It May Be Cooling. Stagnant household incomes are no match for fast-rising home prices, but that widening ratio isn't sustainable for the long-term, experts say. House prices are outpacing average household incomes across the U.S., Wed, 05/11/2022 - 10:31.

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Pro Builder

OCTOBER 18, 2022

Housing Bubble About to Pop? may be in a housing bubble, and some believe that bubble is about to burst. After peaking to new highs this summer, home prices are beginning to fall as elevated mortgage rates whittle away at housing affordability and put a dent in homebuyer demand. Tue, 10/18/2022 - 10:16. Market Data + Trends.

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Pro Builder

SEPTEMBER 8, 2021

Everyone Wants in on Housing Flipping. One Long Island-based house flipper says now is the best time to be in the business, but finding inventory to rehab is the hard part. Fixer-uppers are fighting over limited stock as the foreclosure moratorium closes off a usually solid stream of inventory. cbroderick.

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Pro Builder

NOVEMBER 9, 2020

Biden's Promised Changes to the Housing Market. 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. These are some of his more innovative ideas about combining housing assistance with improving communities," says Goetz.

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Pro Builder

MAY 5, 2022

After years of fierce competition for limited housing supply, elevated interest rates may not be enough to cool off a red-hot housing market. Even as mortgage rates reach new highs, a lack of available housing inventory is driving up demand and keeping home builders busy in every regional market. Thu, 05/05/2022 - 10:50.

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Pro Builder

MAY 9, 2022

How Employer-Assisted Housing Programs Are Paving a Path to Homeownership. Employer-assisted housing (EAH) programs offer incentives for employees making home purchases. Housing Policy + Finance. Housing Policy + Finance. Mon, 05/09/2022 - 10:26. New-Home Sales. Human Resources.

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Pro Builder

OCTOBER 5, 2022

House Prices Are Poised to Fall From Record Highs, but by How Much? Real and nominal home prices could see double-digit declines over the next 5 to 7 years, but it may still take some time for buyers to feel the effects of a full-blown housing correction. Wed, 10/05/2022 - 09:56.

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Pro Builder

MARCH 11, 2022

in February as a lack of inventory drives up sale prices. 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. Housing Markets. Housing Markets. Fri, 03/11/2022 - 10:40. A record 6 million U.S. New-Home Sales.

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Pro Builder

JANUARY 11, 2021

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. cbroderick.

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Pro Builder

JANUARY 4, 2023

If a recession materializes in the year ahead, experts anticipate even higher interest rates, a floor on pricing decreases, and potential income changes, but for priced out buyers, a sudden slowdown could also mean significant price drops and less competition, Forbes reports.

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Pro Builder

MAY 10, 2023

A 2023 home price outlook hinges largely on the Federal Reserve as elevated interest rates continue to slow the housing market. If rates fall significantly in the months ahead, the housing market could come back to life even amid higher prices and waning inventory, Forbes reports.

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Pro Builder

MAY 31, 2022

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 . housing markets. Tue, 05/31/2022 - 10:10. That's the finding from Moody's proprietary analysis of U.S.

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Pro Builder

JUNE 14, 2023

One solution to those challenges is to prioritize new housing development, but even builders are financially strained amid higher costs for materials and labor, tighter lending practices, rising interest rates, and ongoing supply chain disruptions. million homes for extremely low-income renters, The New York Times reports.

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Pro Builder

MARCH 28, 2022

Why Elevated Mortgage Rates Could Be the Housing Market’s Biggest Threat Yet. After two years of record-breaking price gains, supply chain disruptions, shortages, and heightened competition, a recent spike in mortgage rates could pose the biggest challenge yet for a supercharged housing market. Housing Policy + Finance.

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Pro Builder

JULY 8, 2022

Rising mortgage rates are cooling a long overheated housing market, but not all buyers benefit from the most recent series of rate hikes. Even as inventory levels rise across the U.S., the majority of available homes for sale are affordable only for higher-income buyers. Even as inventory levels rise across the U.S.,

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Pro Builder

JULY 1, 2022

The housing market is cooling, asking prices are dropping, and inventory is on the rise across the U.S., KB Home noted that its typical buyer has a household income of $125,000, a credit score around 730, and puts $75,000 down when buying a home. Read more. ">. New-Construction Projects. Construction. Builders.

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Pro Builder

JANUARY 8, 2021

Buyer and Seller Housing Market Optimism Drops. If so, this could have the effect of perpetuating already-tight inventory levels and supporting additional (albeit lesser) home price growth, which could contribute to a further moderating of home sales.”. cbroderick. Fri, 01/08/2021 - 09:52. Read More. . Market Data + Trends.

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Pro Builder

DECEMBER 15, 2022

With comparatively high inventory and affordable home prices, these metros are prime homebuying locations for first-time house hunters in 2023. Markets like Wichita, KS offer an inventory to buyer ratio of 22 to 1 with price reductions in 22% of all listings, Zillow reports. Housing Markets. Housing Markets.

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Pro Builder

SEPTEMBER 21, 2022

The housing market is undergoing a major transformation in the face of economic uncertainty, and while builders fret over inventory, sales, and a relentless barrage of supply chain disruptions and labor shortages, Housing Design Matters says now may also be the time to rethink product offerings.

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Pro Builder

DECEMBER 6, 2021

In the third quarter of 2021, price growth began to normalize after months of record highs and inventory rose slightly across the nation, but first-time buyers still struggled in a competitive seller’s market, according to NerdWallet. Housing Markets. Housing Markets. Average quarterly home prices were listed at 5.3

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Pro Builder

NOVEMBER 6, 2020

Housing Affordability Hovers Over 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. were tied as the nation’s most affordable major housing market, defined as a metro with a population of at least 500,000.

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Pro Builder

AUGUST 7, 2020

Mortgage Rates Continue to Drop, As Does Affordable Housing Supply. of new and existing homes sold in the second quarter of this year were considered affordable to buyers with median incomes of $72,900. of new and existing homes sold in the second quarter of this year were considered affordable to buyers with median incomes of $72,900.

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Pro Builder

MARCH 16, 2022

The Federal Reserve is preparing to increase mortgage rates to tame elevated inflation, but higher rates still won’t be enough to stop another year of strong price growth in the housing market, Fortune says. Bank of America predicts that home prices across the U.S. Why the bullish 2022 outlook? Market Data + Trends. Affordability.

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Pro Builder

APRIL 11, 2023

The 2022 deficit represents a 113% decrease from the previous year's average income of $2,339 per mortgage. Negative profits in 2022 are likely a result of slower housing activity caused by higher financing costs coupled with elevated home prices, leading to lower purchase and refinance volume. "The

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Pro Builder

MAY 20, 2021

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. Housing Markets. Housing Markets.

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Pro Builder

DECEMBER 8, 2022

With rising shares of home price reductions, high relative housing supply, and mortgage and rent affordability, these metros offer a starting point for budget-conscious first-time homebuyers. Already, some metros are showing promising signs of cost relief in a cooling housing market. Housing Markets. Housing Markets.

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Pro Builder

AUGUST 12, 2021

If current rent and income growth trends continue, Zillow says some of the most affordable metros will become the least affordable and many renters will become newly housing-cost burdened by the end of the year. The threshold for which a resident is deemed “housing-cost burdened” is if they pay more than 30% of their monthly income.

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Pro Builder

MAY 4, 2023

Condos were a popular choice during the pandemic thanks to their relatively low prices and high levels of supply, but inventory has since dropped off, and demand is falling. Luckily, a few affordable options are available for buyers willing to look beyond the single-family market, Zillow reports.

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Pro Builder

AUGUST 6, 2021

median income fell sharply from the first quarter to the second quarter of 2021. The National Association of Home Builders says building material costs, high demand, and low inventory have pushed home prices up by tens of thousands of dollars. The NAHB/Wells Fargo Housing Opportunity Index found 63.1% percent from the rate of 2.96

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Pro Builder

JUNE 8, 2023

Housing costs continue to outpace household income, creating, in some cases, an insurmountable barrier for younger generations to achieve homeownership. history, according to data from the Mortgage Bankers Association (MBA). The group’s Purchase Applications Payment Index (PAPI) rose 0.5% in April to a record high of 172.3,

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Pro Builder

JUNE 8, 2022

Market hurdles like historically low housing supply, surging mortgage rates, and stagnant income growth are keeping first-time buyers sidelined at the start of 2022. Inflation significantly outpaced income growth at the start of 2022, with homes in the most populous metro areas costing six times the typical first-time buyer income.

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Pro Builder

SEPTEMBER 6, 2022

A new Goldman Sachs housing forecast points toward stalled price growth in 2023, but some metros are already seeing substantial declines. First, prices appear significantly too high using real prices, and price-to-income and price-to-rent ratios. Housing Markets. Tue, 09/06/2022 - 09:55. Market Data + Trends. Affordability.

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