New-home buyers pay lower mortgage rates, by about half of a percentage point New construction median list prices dip and shrink the price gap with existing homes to its lowest level since 2020 Builders are delivering smaller, lower-priced homes in 26 of the top 100 U.S. metrosAUSTIN, Texas, May 8, 2025 /PRNewswire/ -- New homes are offering an affordability edge in today's challenging housing market, according to the Realtor.com® New Construction Quarterly Report. In the first quarter of 2025, the median ...

Core Insights - The annual income required for a U.S. household to afford a median-priced home has increased to $114,000, marking a 70.1% rise from $67,000 six years ago [1][4][8] - Despite affordability challenges, the housing market is showing signs of rebalancing, with increasing inventory and more flexible pricing from sellers [2][9] Housing Metrics - The median listing price in April 2025 is $431,250, reflecting a 1.5% increase from March 2025 and a 36.9% increase from April 2019 [3] - Active listings have risen to 959,251, a 30.6% increase year-over-year, although still 16.3% below the 2017-2019 norms [3][10] - The share of active listings with price reductions is at 18.0%, indicating sellers are adjusting prices to attract buyers [3][9] Required Income Analysis - The income required to afford a median-priced home has increased by $47,000 since 2019, driven by rising home prices and elevated mortgage rates [4] - Specific metro areas have significantly higher required incomes, with San Jose at $370,069, an increase of 54.3% since April 2019 [5] Pending Home Sales Trends - Pending home sales have declined for four consecutive months, with a 3.2% decrease in April 2025 compared to the previous year [6][7][8] - The rise in mortgage rates is a key factor contributing to the slowdown in pending home sales [6][9] Market Dynamics - The West and South regions have seen substantial growth in active listings, with San Diego and San Jose experiencing increases of 70.1% and 67.6%, respectively [10] - The current market conditions suggest that buyers may have more options and leverage, as sellers are becoming more accommodating [2][9]

Core Insights - The report highlights a nationwide housing shortage of over 4 million homes, emphasizing the growing concern of affordability for millions of Americans [1][5] - States are graded based on their housing affordability and homebuilding capabilities, with South Carolina, Iowa, and Texas receiving the highest marks [1][4] Affordability and Homebuilding Metrics - The grading system evaluates affordability through the REALTORS® Affordability Score and the percentage of median income spent on a median-priced home, while homebuilding is assessed via the permit-to-population ratio and the new construction premium [2] - Only 18 states meet the 30% income rule for housing affordability, with Texas, Florida, California, North Carolina, Georgia, Arizona, and South Carolina accounting for over half of all construction permits issued in 2024 [4] Regional Performance - The South and Midwest are leading in both affordability and homebuilding, with South Carolina achieving the highest grade of A due to proactive homebuilding efforts [5] - The Northeast and West Coast are lagging, facing high home prices and limited new construction, with Rhode Island ranking at the bottom of the list [6][7] Zoning and Regulatory Challenges - States on the coasts, such as Massachusetts, face stricter zoning regulations that hinder affordable housing development, with 76% of Massachusetts' land subject to zoning [8] State-by-State Rankings - The report provides a detailed ranking of all 50 states, with South Carolina scoring 75.2 (A), Iowa 71.6 (A-), and Texas 71.5 (A-) [9][10] - The lowest-ranked states include California (19.5, F), Hawaii (15.8, F), and New York (13.2, F), highlighting significant disparities in housing affordability and construction efforts across the U.S. [10]

Core Insights - Realtor.com® and Local Logic released a ranking of the best U.S. cities for car-free transit, emphasizing sustainability through walking, biking, and public transit [1][3] - The top three cities are Hoboken, NJ; Cambridge, MA; and Brookline, MA, with a significant concentration of top-ranked cities in the Northeast and California's Bay Area [1][2] Ranking Methodology - The ranking was based on U.S. Census data regarding car-free commuters, combined with Local Logic's proprietary Location Scores that assess walkability, bikeability, and public transit access [3][4] - These Location Scores are derived from billions of data points related to local infrastructure and amenities, providing a comprehensive view of neighborhood functionality [3][4] Top Eco-Friendly Cities - **Hoboken, NJ**: Nearly 80% of residents commute without a car, benefiting from a dense, walkable grid and access to PATH trains, ferries, and buses [5] - **Cambridge, MA**: Known for smart city planning and significant investment in bike infrastructure, making car-free commuting a natural choice [6] - **Brookline, MA**: Well-connected by transit and designed for easy navigation on foot, promoting a car-free lifestyle [7] - **Berkeley, CA**: Strong cycling culture and progressive urban policies support car-free commuting [8] - **Washington, D.C.**: Approximately two-thirds of residents commute car-free, with a focus on safer, walkable streets [9] - **San Francisco**: Despite its hills, it remains transit- and pedestrian-friendly, with a long-standing transit-first policy [10] - **Somerville, MA**: Investments in active transportation and compact urban design facilitate car-free commuting [11] - **Boston, MA**: Nearly 58% of locals commute without a car, supported by strong transit coverage and modern mobility plans [12] - **Seattle**: Over half of residents commute without driving, aided by a growing transit network [13] - **Arlington, VA**: Focuses on growth around Metro stations, supporting sustainable commuting options [14] Key Statistics - The ranking includes median list prices, days on the market, and various friendliness scores for cycling, pedestrian access, and transit [15] - For example, Hoboken has a median list price of $785,000 and a cycling friendliness score of 7.0 [15]

Core Insights - Rents in the U.S. have declined for 20 consecutive months, with the median asking rent now at $1,694, which is $65 lower than the peak in 2022 [1][2] - Despite the decline, rents remain significantly higher than pre-pandemic levels, with a 20.2% increase from March 2019 to March 2025 [3] - New tariffs on building materials could threaten the ongoing decline in rents and impact multifamily housing supply by increasing construction costs [4][9] Rental Trends - The median asking rent has decreased by $65 monthly and over $700 annually, but remains above 2019 levels in nearly all major U.S. metros [2] - San Francisco is the only major market where the median asking rent is below pre-pandemic levels [3] - Markets with the fastest growth in permitted multifamily homes, such as Milwaukee, Oklahoma City, and Memphis, are expected to face the greatest impacts from new tariffs [5][9] Market Analysis - The increase in multifamily building and permitting has contributed to the decline in rents, but this trend is at risk due to rising construction costs from tariffs [2][4] - The following markets have seen significant growth in permitted multifamily units: Milwaukee (1,884 units), Oklahoma City (581 units), and Memphis (1,089 units) [7] - Overall, the national median rent is $1,694, with specific unit sizes showing varied year-over-year changes, such as studio rents at $1,407 and 2-bedroom rents at $1,878 [10]

Core Insights - 70% of potential sellers believe it is a good time to sell their homes, driven by optimism about home values and buyer offers meeting asking prices [1][2] - 55% of potential sellers who have been considering selling for over a year feel "locked in" due to high mortgage rates [8] Seller Motivations - 79% of potential sellers are motivated by necessity, with 46% seeking a different community, 34% needing more space, and 25% looking to downsize [2][10] - 61% of potential sellers have been contemplating selling for more than a year, with 46% of them considering it for one to two years [7][8] Seller Confidence - 81% of potential sellers expect to receive their asking price or more, and 75% believe their home will sell within the average time frame or quicker [3] - 96% of potential sellers have taken steps to prepare for a sale, with 71% checking their home's value and 61% researching neighborhood prices [4][6] Home Improvements - 38% of potential sellers have made home improvements, with 70% focusing on light renovations such as repainting and updating fixtures [5] - 65% of those who renovated addressed potential inspection issues, while 59% undertook major renovations like kitchen or bathroom remodels [5] Listing Process - 60% of potential sellers have initiated the listing process, with 36% contacting a real estate agent and 27% completing a home inspection [6] - 22% have already listed their home for sale [6] Regional Differences - Seller attitudes vary by region, with 80% of potential sellers in the Northeast believing it is a good time to sell, compared to lower percentages in the West (72%), South (69%), and Midwest (65%) [10] - The Northeast is identified as the most undersupplied region, contributing to heightened seller optimism [10] Interest Rate Impact - 78% of potential sellers anticipate that interest rates will remain the same or increase in the next year, influencing their likelihood to sell [9] - 66% of potential sellers plan to buy another home after selling, with half feeling "locked in" by current mortgage rates [8]

Core Insights - Homebuyers in the U.S. set a new record for down payments in 2024, with significant increases in the Northeast and Midwest, while declines were observed in several Southern and Western states [1][2][3] Down Payment Trends - Delaware experienced the highest increase in median down payments at 38.6%, reaching $49,000, followed by Rhode Island at 32.8% and Maine at 32.0% [1][3] - In contrast, states like Texas and Florida saw substantial declines in down payments, with Texas down 16.5% to $15,350 and Florida down 14.1% to $27,566 [4][12] Regional Dynamics - The Northeast and Midwest are characterized by intense buyer demand and significant housing supply gaps, leading to higher prices and competitive market conditions [4][12] - Only eight out of the 50 states reported falling down payments in 2024, indicating a generally competitive market across the country [10] Metro-Level Analysis - The San Diego metro area saw the largest increase in down payments, with a 33.7% rise, while other metros like Cincinnati and New Orleans also reported significant increases [5][7] - Conversely, Cape Coral, Florida, experienced the largest decline in down payments at 31.2%, attributed to stagnant home prices [9][11] Future Outlook - Down payments are expected to remain high in competitive regions with limited inventory, while markets in the South and West may continue to experience softening trends [12]

Core Insights - A survey by Realtor.com® reveals that moving is a mix of excitement and stress, with 36% of movers feeling excited on moving day [1][2] Moving Costs and Spending - Movers spent nearly $17,000 on setting up their new homes, while those using Realtor.com® spent nearly $20,000 [1] Cleaning and Home Preparation - Over 60% of movers prefer DIY cleaning, focusing on areas like bathrooms and countertops [3] - 61% of movers purchased new cleaning products, with 51% opting for organic or natural options [4] Connectivity and Technology - Connectivity is a priority, with over 60% of movers having internet installed before or on moving day [5] - The use of 5G internet increased from 27% in previous homes to 35% in new homes [6] Brand Experimentation - Movers are open to trying new brands, with nearly one in three having purchased or leased a vehicle in the past year [7] - 33% of movers added new coverages to their homeowners insurance, with flood and fire coverage being the most common additions [8] Additional Insights - Common life events for movers include promotions (39%), new jobs (21%), and having a child (16%) [11] - 68% of movers relocate within 50 miles of their previous residence [11] - Neighborhood safety is a top influencer in home purchases, with movers equally prioritizing neighborhood and house features [11]

New listings hit highest March level in three years, rising 10.2% annually Pending home sales drop 5.2% YoY in larger metro areas as buyers hesitate Price drops hit their highest share for any March since 2016AUSTIN, Texas, April 3, 2025 /PRNewswire/ -- The U.S. housing market saw signs of continued recovery this spring, with more homes hitting the market and total inventory rising for the 17th straight month, according to the March Housing Trends Report from Realtor.com®. However, rising price drops and s ...

Highest number of days: Hawaii (17 days), California (15 days), Massachusetts (15 days) and Montana (15 days). Lowest number of days: Kansas (7 days), Missouri (7 days), Indiana (7 days), Illinois (7 days), West Virginia (7 days), Michigan (7 days), and Ohio (6 days)  AUSTIN, Texas, April 2, 2025 /PRNewswire/ -- The median national home price in the U.S. is $412,000 and for Americans looking to buy a home, the magic number of days required to work per month to afford the mortgage payment is 10, according t ...