Housing inflation has been a persistent issue afflicting the U.S. economy, even as overall inflation rates have shown signs of declining post the peak levels witnessed during the pandemic era. The sluggish decrease in housing inflation has been a major hurdle in achieving the targeted consumer price index, as noted by economists. This phenomenon is
Real Estate
It is a well-known fact that the high cost of living is taking a toll on the younger generation – Generation Z. According to a report from Bank of America, nearly half of Gen Zers between the ages of 18 and 27 rely on financial assistance from their family. This financial support is becoming crucial
In light of the recent surge in home prices, homeowners are faced with a unique opportunity to refinance their homes and take advantage of the increased equity. However, the reality is far from simple. Despite the temptation to pull out cash from their homes, many are deterred by the soaring interest rates, which have more
The housing market has been experiencing unprecedented dynamics due to various factors that can be traced back two decades ago to the subprime mortgage boom. The aftermath of the subprime mortgage crisis and the Great Recession caused a significant decrease in housing starts, with new homes making up a mere 6% of total for-sale supply
The San Francisco real estate market has been facing significant challenges, with the vacancy rate for office space reaching a record high of 34.5% in the second quarter. This increase is a concerning trend, especially when compared to the numbers from the same period a year ago, which stood at 28.1%. The drop in the
Manhattan is currently experiencing a significant shift in its real estate market dynamics, with apartment prices declining and inventory on the rise in the second quarter of 2024. Reports suggest that the average sales price of real estate in Manhattan has fallen by 3%, with the median price also seeing a 2% decrease. Notably, prices
Recent reports have indicated a shift in the real estate market, with home prices showing signs of cooling off after months of rapid growth. While prices are still higher compared to a year ago, the rate of increase has slowed down considerably. This slowdown can be attributed to several factors, including rising mortgage rates and
The housing market continues to face challenges as the summer season progresses. Despite hopes for a rebound following a lackluster spring, high home prices, and steady mortgage rates are preventing any significant improvement in market conditions. This is evident in the stagnant weekly mortgage demand, which has remained flat for the second consecutive week. The
Recent data suggests that the typical newly built house on the market today is smaller in size compared to a decade ago. The reduction in square footage could be seen as a response to changing buyer preferences. The National Association of Home Builders (NAHB) reported that in 2024, the median size of a single-family home
The housing market continues to shatter records, with home prices hitting another all-time high in April. Despite a rise in mortgage rates and an increase in homes for sale, prices surged by 6.3% compared to the previous year. This marks the second consecutive month that the national index has exceeded its previous peak. The trend