A report from the National Association of Realtors shows the average home buyer this past year had a six-figure income. Others face challenges in a period of high prices and costly home loans.
The median home price has risen to $413,800 – the second-highest price ever — thanks to a shortage of homes on the market and high mortgage rates. Experts say renting may be a better option.
The buying frenzy of a year ago is long gone. Home buyers have pulled away, sellers are holding back, and the whole housing market is locked in a deep freeze.
It's harder to afford homeownership than it's been in decades as a steep run-up in both prices during the pandemic and more recently interest rates hit buyers from both sides.
Thursday's GDP report shows the U.S. economy grew at an annual rate of 2.6% in July, August and September, after shrinking in the first half of the year.
Higher rates are dashing the dreams of some would-be homebuyers while others stretch to buy but spend close to $1,000 a month more in monthly payments for a typical house.
With mortgage rates up sharply, many more homebuyers are turning to adjustable rate loans. These can be more affordable, at least at first. But they come with a big risk. Is it worth it?
During the past two years, America’s red-hot housing market left millions of people scrambling to find an affordable home to purchase or rent.
Hundreds of cities and towns are seriously short of housing, both homes to buy and rentals, according to a new study. It's the main reason that home prices and rents are so high.
The U.S. has a home shortage, but builders may be slowing instead of increasing construction because of worries that the homes won't be sold.