An earlier post revealed that 71% of buyers who were actively engaged in the process of finding a home in the first quarter of 2023 have spent 3+ months searching
Improvements in affordability expectations have led to an increase in the share of prospective buyers who have moved beyond just the planning phase of their home search: 56% report being
Relatively lower interest rates (compared to fall 2022), slowing growth in home prices, and builder incentives are making an impact on buyers’ affordability expectations. In the first quarter of 2023,
After souring significantly in the final quarter of 2022, buyers’ expectations of housing availability edged up slightly in the first quarter of 2023, with 26% expecting the home search to
Interest for new home construction was essentially unchanged between the final quarter of 2022 and the first quarter of 2023, as the share of prospective buyers looking to buy a
The retreat in mortgage interest rates during the first quarter of 2023 (from the 20-year peak reached in the fall of 2022) led a record share of adults in the
In 2022, Florida had the highest population growth rate of any state at 1.9% and the second largest nominal growth in population at 416,754. Florida’s population was at 22,244,823 as
Based on the Census Bureaus’ latest estimates, the population of the State of Texas grew by 470,708 persons between 2021 and 2022. This nominal increase was the largest of any
An earlier post revealed that 65% of buyers who were actively engaged in the process of finding a home in the fourth quarter of 2022 have spent 3+ months searching
Dwindling housing affordability in the fourth quarter of 2022 caused the share of prospective home buyers who are actively engaged in the purchase process (i.e. who have moved beyond just
After a brief respite earlier in 2022, buyers’ expectations of housing availability soured again at the end of the year. In the final quarter of 2022, the share of buyers
Interest for new home construction weakened in the fourth quarter of 2022, driven by high mortgage rates and elevated new home prices. The latest Housing Trends Report (HTR) shows that
The share of adults planning a home purchase in the next 12 months dropped to 13% in the final quarter of 2022, down from 15% in the previous quarter. The
An earlier post revealed that a record 70% of buyers who were actively engaged in the process of finding a home in the third quarter of 2022 have spent 3+
Higher interest rates are pricing out some (not all) buyers, but also transforming remaining prospects into active buyers. In the third quarter of 2022, 59% of prospective buyers had moved
Prospective buyers in the third quarter of 2022 are more likely to have higher levels of income and education than earlier in the year. This helps explain why affordability expectations
For the second straight quarter, more prospective buyers expect housing availability to improve. In the third quarter of 2022, 37% of buyers expect the home search to get easier in
After bottoming out at 19% in the first quarter of 2022, the popularity of new homes continues to rebound, as the share of buyers looking for new construction rose to