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Homeownership Trends Among Multigenerational Households The homeownership rate for multigenerational households reached 74.2% in 2022, surpassing the rate for all other family households, which stood at 73.9%. This marks a significant shift from 2012, when the homeownership rate for multigenerational households was only 69.3%, falling behind other family households at 71.3%. This increase of 5...

A Slowdown in Home Sales Despite High Demand Despite a high demand for homes and a slight decline in mortgage rates, pending home sales in the U.S. have reached their lowest levels on record, according to a report from the National Association of Realtors (NAR). The Pending Home Sales Index indicates that pending sales dropped...

Increase in Absorption Rates The construction of multifamily housing has been on the rise, as indicated by the latest data from the Census Bureau’s Survey of Market Absorption of New Multifamily Units (SOMA). The percentage of new apartment units absorbed within three months of completion has notably increased, climbing from a decade-low 42% to 53%...

Continued Growth in Patios for New Homes In 2023, the share of new single-family homes featuring patios reached another record high, with 63.7% of the approximately 950,000 homes started that year including this feature. This marks a slight increase from 63.3% in 2022 and continues a trend of growth that has lasted for eight consecutive...

Confidence in the multifamily housing market has taken a significant hit in the second quarter of 2024, with developers expressing less optimism about future prospects. According to the Multifamily Market Survey (MMS) released by the National Association of Home Builders (NAHB), both the Multifamily Production Index (MPI) and the Multifamily Occupancy Index (MOI) showed notable...

The U.S. homeownership rate stood at 65.6% in the second quarter of 2024, showing no change from the first quarter but marking the lowest level in the past two years. This figure is now slightly below the 25-year average of 66.4%, driven by a persistent decline in housing affordability. As high mortgage rates and limited...

Recent data shows that homebuyer affordability is improving, albeit modestly, as lower mortgage rates and a slight decrease in mortgage payments have given some relief to buyers. According to the Mortgage Bankers Association, the median new mortgage payment dropped to $2,167 in June, a 2.4% decrease from May’s figure of $2,219. This shift is largely...

In June 2024, mortgage delinquencies surged to their highest point in six months, raising concerns among some analysts. The national delinquency rate rose by 14.5% from May to June, as reported by Intercontinental Exchange Inc. (ICE). This increase, however, may not be as dire as it appears, with experts attributing the rise to calendar-related factors...

Mortgage activity saw a notable increase in June 2024, as the Mortgage Bankers Association (MBA) reported an 8.2% rise in the Market Composite Index, which tracks mortgage loan application volumes. This increase, on a seasonally adjusted (SA) basis, compares to a 1.0% rise from June 2023. The surge in mortgage activity was largely driven by...

Sharp Rent Increases in Select U.S. Cities Across the United States, rent prices for one- and two-bedroom apartments have seen dramatic fluctuations over the past year, with some areas experiencing significant increases while others enjoy a decline in rates. While the nation has generally seen rent inflation ease, some major cities continue to see a...