Price cuts indicate homes are sitting on the market longer – which means more options for buyers, less competition for homes and more room for buyers to negotiate. Many recently white-hot markets have seen large jumps in the share of for-sale listings with a price cut.
A single homebuyer would need to save for nearly 11 years to reach a 20 percent down payment on the typical U.S. home By Jeff Sorg, OnlineEd Blog (February 17, 2018) SEATTLE /PRNewswire/ — In today’s highly competitive housing market, finding an affordable home can feel increasingly out of reach, especially for singles. A single homebuyer would […]
Fewer than five percent of homes for sale in Portland, Los Angeles, and Denver were affordable on median African-American and Hispanic incomes in 2016 By Jeff Sorg, OnlineEd Blog (June 30, 2017) In 2016, just 18 percent of homes for sale in the 30 largest U.S. metros were affordable for middle-class Hispanic families and 14 […]
Index Closes Year on Positive Note Driven by Reported Income Growth By Jeff Sorg, OnlineEd Blog (January 7, 2016) – Fannie Mae’s Home Purchase Sentiment Index™ (HPSI) increased 2.4 points to 83.2 in December, capping off its strongest year thus far, as Americans’ household income prospects bounced back to levels of three months ago. The share of consumers […]
(Jeff Sorg, OnlineEd) – First quarter home prices saw a decrease in value of $5,000 to $210,000, while average mortgage interest fell from 4.29 percent to 4.03 percent in the same period. Falling prices and interest rates brought a boost in nationwide affordability in the first quarter of 2015, says the National Association of Home Builders/Wells Fargo Housing […]