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Housing Costs Remain Elevated, Impacting Inflation Data
In March, housing costs continued to rise, raising concerns about the timing of when a recent easing of apartment rents will be reflected in the US government’s inflation data, and whether this softening trend will persist. Outlook for Rent Inflation Despite market-based measures of rent growth cooling over the past year, the monthly pace of […]
Mortgage Demand Sees Slight Increase, Led by Refinance Applications
Mortgage demand experienced a slight uptick for the first time in four weeks, primarily driven by a modest increase in refinance applications. However, this upward trend may not be sustainable. Mortgage applications rose by 0.1% on a seasonally adjusted basis during the week ending April 5, according to the Mortgage Bankers Association’s (MBA) weekly mortgage […]
Record-High Monthly Housing Payments Reflect Ongoing Real Estate Market Shifts
In March, monthly housing payments in the U.S. soared to unprecedented levels, highlighting the ongoing challenges and dynamics in the real estate market. The average monthly U.S. housing payment surged to a record $2,721 for the four weeks ending March 24, marking a significant 10% increase compared to the previous year, as reported by real […]
From Boom to Bust: Austin’s Real Estate Rollercoaster
Austin, Texas, emerged as one of the hottest real estate markets in the country during the COVID-19 pandemic, as Americans sought refuge in the Sun Belt. However, the once red-hot market is now experiencing a rapid decline in property values and rents, leading some analysts to suggest it’s still overvalued by 35%. The pandemic-induced shift […]
St. Louis Tops List for First-Time Homebuyers in 2024, Midwest a Affordable Option
St. Louis has been named the top US market for first-time homebuyers in 2024, according to Zillow’s list of the 10 best cities for new buyers. The Midwest region, including Detroit, Minneapolis, Kansas City, and Indianapolis, dominated the list, emphasizing its appeal for new buyers. Zillow ranked these cities based on rent affordability, the share […]
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