Some Western Boomtowns Buck the National Trend in Homeownership
The homeownership rate in the United States has declined steadily over the past decade, touching 50-year lows in early 2016. But some booming and still relatively affordable parts of the country are bucking the national trend, according to an analysis of 2015 American Community Survey data.
Current Population Survey 2016: Household Income Up, Poverty Down
Recently released data from the U.S. Census Bureau on household income and poverty offer some good news for American families overall, with positive potential impacts on housing.
Rent Affordability by Tier: High Rents Aren’t a Problem If You Earn Enough to Afford them
As growth in rents outpaces growth in incomes, rent affordability (the share of the typical American’s income that goes to rent) has steadily deteriorated over the past five years – from a historic average of 26 percent, to roughly 30 percent currently. But focusing only on medians can sometimes hide more than it reveals. In this case, there are sharply different trends at the top and at the bottom of the market.
Key Takeaways from the July Existing Home Sales Report
After a surprisingly buoyant spring and early summer, July existing home sales pulled back, falling 3.2 percent from June to 5.39 million units at seasonally-adjusted annual rate (SAAR) according to the National Association of Realtors.
Key Takeaways from the July New Home Sales Report
July new home sales rose 12.4 percent from June to 654,000 units at a seasonally adjusted annual rate (SAAR), their highest level since October 2007. Over the year, new home sales are up 31.3 percent, the highest annual growth rate since February 2012.
July Home Sales Forecast: Is the Party Over?
Thus far, it has been a pretty sweet ‘16 for home sales. But according to our July home sales forecast, the party looks like it could be coming to an end, at least temporarily and especially for sales of existing homes that must eventually face the harsh reality of tight inventory and rising prices.
Urban Ascendant: Home Values in and Around Washington, D.C.
The housing market in and around Washington, D.C., has fundamentally transformed over the past decade. Perhaps more than any other U.S. market, the nation’s capital sharply illustrates the extent of urban renaissance experienced in many cities nationwide, and the diverging post-Recession fortunes of the nation’s urban and suburban communities.
Renters by Choice or Circumstance? Many Big-City Renters Earn Enough to Buy
The homeownership rate has steadily declined to generational lows over the past decade, pushing a broader-than-ever swath of Americans from all social and economic backgrounds into the rental market – including a large share that could likely afford to buy a home, but aren’t.
Own-to-Rent: The Foreclosure Crisis and Single-Family Home Rentals
Once strongly associated with homeownership, a growing share of single-family homes are now being rented. And by extension, more of the country’s rental market is now composed of single-family homes.
Older Millennials Driving Increase in Young Adults Living at Home
Over the past decade, there has been a sharp increase in the share of young adults living with their parents. But lately, the increase isn’t necessarily because the youngest adults aren’t leaving the nest – instead, it’s being driven their older brothers and sisters in their late 20s and early 30s.
