Nearly $10K a Year: Taxes, Insurance, Other Homeowner Costs
U.S. homeowners can expect to spend almost $9,400 a year on costs associated with owning and caring for a home. That’s about $780 a month on top of a monthly mortgage payment.
Market Trends
Price Cuts Becoming More Common, Especially at the High End
The share of pricier homes available for sale at a discount from their original list price is growing, even as sellers of less-expensive homes seem somewhat less willing to consider a price cut.
Mortgage Rates Lower on Turkey Turmoil
Mortgage rates fell last week after the collapse of the Turkish lira prompted financial market fears.
They Don’t Build Them Like They Used To: The New Construction Shortage
If permits were issued at historic rates (defined on a per incremental capita basis) over the last 10 years, there would have been some 2.3 million more single-family homes built nationwide.
List of $1M (Home Value) Cities Could Grow by 23 in the Next Year
Only 197 cities of more than 10,000 analyzed have a median home value of $1 million or more. Another 23 cities are expected to join the list in the coming year.
The Rentership Roller Coaster: Most Cities Gained Renters, Despite a Pre-Recession Dip
Since the turn of the millennium, nearly all of America’s 50 largest cities have seen a rise in their rentership rates, the percentage of homes that are rented rather than owned. In all but a few of these cities, the ascent has been far from smooth.
Home Values Grew Most in Markets With Strictest Land Use Regulations
Home values and job growth have both risen since 2010, but home values grew much more steeply in metros with stricter land use regulations.
Mortgage Rates Edge Higher as Trade Tensions Ease
Mortgage rates trended higher over the past week, returning to highs last touched in late May and early June and continuing the upward trajectory of last week.
Why Millennials Are Struggling to Become Homeowners
Young, highly-educated millennials earn more than typical American workers, make up a growing share of the population in some of the nation’s fastest-growing and most-dynamic cities, and are disproportionately likely to work in well-paid tech jobs. And still, they're struggling to become homeowners. Why?
May Case-Shiller Results and June Forecast: Hints of a Turning Tide?
Home price growth is likely to slow somewhat going forward, but the truth is that little has changed for home buyers in the market today: Competition is fierce, prices are rising and selection is limited.
