Remove Housing Remove Income Remove Inventory Remove Los Angeles
article thumbnail

Here Are the Most and Least Affordable Housing Markets in December 2022

Pro Builder

Here Are the Most and Least Affordable Housing Markets in December 2022. metros are home to skyrocketing prices and waning housing inventory, while others offer first-time buyers an affordable entrance into the for-sale market. Los Angeles and New York followed — no surprise given their steep home prices.

Housing 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. Los Angeles-Long Beach-Anaheim, CA.

Metro 52
professionals

Sign Up for our Newsletter

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

article thumbnail

How Low Will Home Prices Go?

Pro Builder

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.

article thumbnail

First-Time Buyer Affordability Fell Sharply in Q1 2022

Pro Builder

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.

article thumbnail

First-Time Homebuyers Found No Relief From Rising Prices in Q4 2021

Pro Builder

times median first-time home buyer income and 5.3 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. Housing Markets.

article thumbnail

How Did First-Time Buyers Fare Last Quarter?

Pro Builder

Despite low, low housing inventory and rising home prices, first-time buyers accounted for 31% of home sales in the fourth quarter of 2020. metros, homes remained five times more expensive than the average first-time buyer income, reports NerdWallet. times median first-time buyer income in the fourth quarter.

article thumbnail

Real Estate Blogger Who Predicted 2007 Crash Shares Predictions for Today’s Market

Pro Builder

The housing market may be leveling out as recent housing metrics slow. It's been reported all year that housing statistics are breaking records, then breaking those records, half of listings are scooped up in the first week, and buyers continue to bid on homes sight unseen. Mon, 06/07/2021 - 09:47. Read More. .