Remove 2020 Remove Income Remove Inventory
article thumbnail

The 2020 Housing Issues Sticking Around This Year

Pro Builder

The 2020 Housing Issues Sticking Around This Year. Low inventory, high home prices, working from home, rising home values—all these factors were a part of the flourishing housing market this year, but will they continue on through 2021? Many problems from 2020 will live on, says the Washington Post, such as housing affordability.

Housing 59
article thumbnail

How a Housing Shortage and High Prices Are Hurting the Middle Class

Pro Builder

Home prices are quickly exceeding home buyer budgets as limited inventory pushes affordability further out of reach. Buyers with a household income between $75,000 and $100,000 are limited to roughly 51% of total homes listed for sale, compared with 58% in 2019. Affordability. Market Data + Trends. New-Home Sales. Affordability.

Housing 52
professionals

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

How Affordable Is the Average Home for First-Time Buyers?

Pro Builder

Wed, 06/10/2020 - 10:09. Finding an affordable home in major cities was already a headache, but inventory shortages and rising home prices may push more listings further out of reach for many Americans. Throw in tightening inventory and lending standards, and it does not look like it will get easier soon. .

Income 52
article thumbnail

Renting a Home May Be Even Harder Than Buying One

Pro Builder

As limited supply and double-digit price increases push a growing number of prospective buyers out of the housing market, demand for single-family rental homes is hitting an all-time high, but increased competition and a similar lack of inventory are making the rental market an even more difficult alternative.

article thumbnail

Forbes Reports Record-Breaking Year for the U.S. Housing Market

Pro Builder

Though housing demand will likely remain high into 2022, more inventory and low interest rates could create a more balanced market, according to Forbes Business Council. As of December 2020, there was only a 1.9-month The Case-Shiller Index shows home prices jumped from 7% to 19% from September 2020 to June 2021.

Housing 97
article thumbnail

Third Quarter Metro Affordability Report Reveals a Tight Market for First-Time Buyers

Pro Builder

In the third quarter of 2021, price growth began to normalize after months of record highs and inventory rose slightly across the nation, but first-time buyers still struggled in a competitive seller’s market, according to NerdWallet. Average quarterly home prices were listed at 5.3 But homes were listed at 5.3 Housing Markets.

Metro 52
article thumbnail

First-Time Buyer Affordability Fell Sharply in Q1 2022

Pro Builder

Market hurdles like historically low housing supply, surging mortgage rates, and stagnant income growth are keeping first-time buyers sidelined at the start of 2022. Since the first quarter of 2020, home prices have risen 26% across the nation, while the number of listings on the market fell 62% in the same time period, NerdWallet reports.