The Real Nightmare on Elm Street: Scary Good Deals
This Halloween, home buyers can find a bargain in many cities by shopping on their local Elm Street… if they dare. Nationwide, the median house on Elm Street is worth about $133,000 or roughly 40 percent less than the median U.S. home.
Home Buyers Need 7.2 Years to Save Down Payments – 1.5 Years More Than in 1988
In San Jose, Calif., buyers would need a whopping additional 13.3 years. In a handful of major metropolitan areas, the time it would take to save a down payment with a constant savings rate of 10 percent is shorter than it was 30 years ago.
Rising Mortgage Payments Eclipse Home Value Gains
The typical mortgage payment in August was up 15.4 percent, or $118 a month, from a year earlier, even though home values gained just 6.5 percent in that same period.
A Decade After Housing Bust, Recovery Is a Story of Location
Twenty-one of the top 35 metros have more than recovered from the bust. San Jose and Denver lead the recovery with huge gains, while Las Vegas, Orlando and Chicago have been the slowest to recover.
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.
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.
Half of Homes Have Regained Peak Values, But the Recovery Is Uneven (June 2018 Market Report)
While 50.4 percent of U.S. homes are currently worth as much or more than they were prior to the housing bust, a much greater share (57.1 percent) of homes valued in the top third nationally have rebounded than homes valued in the bottom third (39.7 percent).
Waterfront Home Premium Shrinking, Highest in Lower-Priced Markets
While waterfront homes nationally are worth a total $134 billion, the price premium for single-family homes on the water has fallen to 36 percent in April 2018, down from 54 percent in 2012 and an average of 41 percent over the past 22 years.
Vacation Home Markets Have Yet to Rebound From Housing Bust
As the appeal of vacation homes has steadily eroded over the past decade, markets with the highest densities of vacation homes have underperformed the market in all but one year since 2010.
Home Values Climbing at Fastest Rate in 12 Years (April 2018 Market Report)
The median U.S. home value rose 8.7 percent to $215,600 in April, the fastest year-over-year climb since June 2006, when the housing market was slowing from its bubble-driven, double-digit growth.
