Tag Archives: Housing Supply

While concerns surrounding affordability and economic uncertainty continue to slow overall homebuying activity, a new report from CoreLogic showed annual single-family rent growth returned to pre-pandemic rates in May.

With an estimated 44 million U.S. households classified as renters, WalletHub examined the best and worst cities to rent, as experts revealed the factors needed to determine the most cost-effective areas to migrate to.

The Department has published a Request for Information asking the public how it can simplify programs and reduce burdens to increase access to its programs.

Amid a significant shortage of housing supply in 2022, nearly 33% of Realtors believe a lack of inventory has stopped many Americans from purchasing homes. U.S. housing supply has dropped to the lowest level recorded since 1999, according to the National Association of Realtors.

While both listed and closed prices experienced positive year-over-year growth in June, experts predict that market activity will remain at relatively low levels heading into Q3 2023, with the Federal Reserve continuing to increase rates at a slow pace.

Consumer confidence in the housing market may have plateaued, according to Fannie Mae's Home Purchase Sentiment Index (HPSI), which remained mostly flat in June, as shrinking supply and affordability conditions continue to pose challenges.

As rental demand heightens, the overall supply of low-rent units has fallen by 3.9 million over the last decade due to rent increases in existing units, building condemnations, and demolitions, according to the latest Joint Center for Housing Studies State of the Nation Housing report.

“The lack of supply is making it feel almost like 2021 all over again, but higher rates mean bidding wars are happening more in the $500,000 range than the $700,000 range because people can afford less,” said Redfin Agent Jeremy Lucas.

According to a new study from Home Bay, it is cheaper to rent than purchase a home in 45 of the 50 most populous U.S. cities, with San Jose, California, ranked the most expensive city for buying a home, whereas Pittsburgh was named the most affordable.

As the total number of homes for sale declined 11% from a year earlier, a new report from Redfin revealed the typical U.S. home is now selling for an estimated $4,000 less than last year’s all-time high, while new listings fell nearly 30% from 2022.