Spring home-buying season is here. Amid historically low housing stock, a combination of still-high mortgage rates and home prices continues to put homeownership out of reach for many—especially first-time buyers. Owning a home has many virtues. It creates stability for a family, supports longer-lasting connections in a community, and is a store of wealth for Read more
Housing Market
Bubble or Balloon? A Housing Market Update
In January 2022, the housing market was at the hottest it had been in 15 years, with a run of new demand spurred by the loosening of pandemic restrictions. As remote work opportunities became more common, some buyers were looking for more space to work from home and found opportunities to move farther from their Read more
Heading for Home: The Housing Market Soars
In a mostly dreary 2020, one bright spot was the residential real estate market. After briefly retrenching at the beginning of the pandemic, home sales exploded, even as a dearth of homes on the market and low mortgage rates caused prices to skyrocket. Those rising prices lifted home values, creating more wealth for homeowners. Now, Read more
How Hard Has COVID-19 Hit the U.S. Housing Market?
Like just about everything else during the global COVID-19 pandemic, the U.S. housing industry is on lockdown. New-construction sales centers are empty. In most states, real estate agents can’t show houses. Inspectors won’t inspect. Appraisers can’t appraise. Even cash buyers willing to waive contingencies can’t get an appointment with Realtors. Closings for homes that went Read more