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Starter Homes Are Becoming Increasingly Unaffordable, Even in Secondary Markets

Pro Builder

In markets like Burbank, CA, a secondary city of the Los Angeles metro, the average renter household income was $63,127 in 2021, but the amount needed to afford the area’s average mortgage payments was triple that at $192,616. Read more Housing Markets Affordability Single-Family Homes Housing Markets

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10 of the Hardest Metros to Snag a Home

Pro Builder

market while housing inventory is down, resulting in a competitive market, but these metros are the most competitive. The site reviewed the payment-to-income ratios, number of homes on the market compared to households, and the average price cut for homes sold recently. San Diego-Chula Vista-Carlsbad, CA. Housing Markets.

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10 Cities at Greatest Risk for Possible Housing Crisis

Pro Builder

10 Cities at Greatest Risk for Possible Housing Crisis. Realtor.com warns of a housing crisis on the horizon for 10 US cities with the highest delinquent FHA loans. FHA mortgages are catered to borrowers who may be first-time, minority, or lower-income, Realtor.com says. cbroderick. Tue, 09/29/2020 - 10:04.

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New Jersey Is Home to Six of the Nation’s 10 Counties Most Vulnerable to a Downturn

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Six New Jersey counties are considered "at-risk" as costs of homeownership soar well beyond local household incomes. housing markets most vulnerable to a downturn are located in New Jersey, where a higher percentage of household income is required to maintain homeownership, according to Realtor.com. Housing Markets.

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The Most and Least Affordable Cities for Renters

Pro Builder

When housing costs should account for 30% of income, it can be difficult to keep up in areas where the rent-to-income ratio is high. SmartAsset’s analysis reviewed income and rents across the country’s largest 25 cities to find the most and least affordable cities for renters. San Francisco, CA. Housing Markets.

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Drought Regions Are Seeing an Influx of New Homebuyers—Here's Why

Pro Builder

Unfazed by climate risks and attracted by affordability, incomers flocked to popular cities like Los Angeles, CA, San Jose, CA, and New York City, NY, all of which are in the throes of an intense summer drought. Housing Markets. Environmental. Environmental.

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Annual Home Price Appreciation Is Decelerating, but Not in These Sunny Metros

Pro Builder

By contrast, Boise City-Nampa, ID, Binghamton, NY, and San Francisco-Oakland-Hayward, CA recorded the slowest home price appreciation with Q3 gains of 0.6%, -1.1%, and -3.7%, respectively. Qualifying median family incomes rose to $88,331 compared to the second quarter of 2022, which was $88,200, and $58,826 a year ago. Housing Markets.

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