Tag Archive for ‘housing trends report’

Builders’ Top Challenges for 2024

According to the January 2024 survey for the NAHB/Wells Fargo Housing Market Index, high interest rates were a significant issue for 90% of builders in 2023, and 77% expect them to be a problem in 2024. The second most widespread problem in 2023 was rising inflation in US Economy, cited by 83% of builders, with 52% expecting it to be… Read More ›

Unaffordable Prices & Bidding Wars Hold Buyers Back

An earlier post revealed that 69% of buyers who were actively engaged in the process of finding a home in the second quarter of 2023 have spent 3+ months searching for a home without success. The inability to find an affordable home remains the most common reason buyers looking for 3+ months can’t make a purchase, cited by 38% (although… Read More ›

Some Buyers Remain Engaged, Despite Lower Affordability

Despite lower perceptions of affordability, the share of prospective home buyers who are actively engaged in the purchase process (i.e., have moved beyond the planning phase) remained essentially unchanged between the first and second quarters of 2023, at 56% and 55%, respectively. The lack of change in this metric suggests that some buyers are willing to continue trying to find… Read More ›

Housing Affordability Expectations Slide Back, Again

After a reprieve in the first quarter of 2023, buyers’ outlook for housing affordability turned bleaker again in the second quarter.  According to the latest Housing Trends Report, 76% of buyers are able to afford less than half the homes for-sale in their markets, up from 73% in the first quarter of 2023. On the flip side, the share able… Read More ›

Interest for New Homes Strengthens

Higher interest rates have led millions of existing homeowners with mortgages under 4% to postpone plans to list their homes for sale, and for many prospective buyers, that supply vacuum has left newly built homes as the only game in town.  That is the backdrop behind the strengthening of interest for new homes. According to the latest Housing Trends Report,… Read More ›

Housing Demand Slows on Higher Rates and Prices

Mortgage rates’ slow –but steady– march upwards combined with the return of home price gains are doing what they are predicted to:  slow housing demand.  According to the latest Housing Trends Report, the share of adults with plans to purchase a home within a year dropped to 15% in the second quarter of 2023, down from a record high of… Read More ›