Residential construction industry as an "Essential Infrastructure Business"
Zillow research is now reporting that American renters who work in food and retail industries can find themselves spending 40% of their annual income on housing costs if they are unable to work for two months
The median U.S. home price in the first quarter of 2020 was unaffordable for average wage earners in 319 of 483, or 66 percent of the U.S. counties analyzed in the report.
It has been a wild ride for mortgage rates over the past month, which touched record lows then rebounded just as fast.
Given growing U.S. housing market uncertainty caused by the recent Coronavirus outbreak, Zillow Group announced this week it will pause home buying in all 24 U.S. markets where Zillow Offers currently operates in response to local public health orders related to COVID-19.
Sales of newly built, single-family homes fell 4.4 percent to a seasonally adjusted annual rate of 765,000 units in February 2020, coming off a sharp upward revision in January 2020.
According to the National Association of Realtors, U.S. existing-home sales climbed substantially in February 2020 after a slight decline in January.
National rent increase of 2.9% year over year, down slightly from a 3.2% year-over-year increase in January 2019. Rent prices are now increasing at double the rate of inflation, presenting affordability challenges among current and prospective renters.
The average annual gross rental yield (annualized gross rent income divided by median purchase price of single-family homes) among the 389 counties is 8.4 percent for 2020
Nearly 1 in 4 U.S. home sellers nationwide are changing how their home is viewed while the home remains on the market.
As of the date of publishing this story, there have been over 115,000 confirmed Coronavirus cases around the world in 110 countries that are now reporting over 4,000 deaths.
According to the Mortgage Bankers Association's latest Weekly Mortgage Applications Survey for the week ending February 28, 2020, mortgage applications increased 15.1 percent from one week earlier.
According to the latest quarterly National Association of Home Builders' Home Building Geography Index, nearly two-thirds of multifamily construction in the fourth quarter of 2019 occurred in "blue counties" where Hillary Clinton garnered the most votes in the 2016 election.
According to Freddie Mac's latest Primary Mortgage Market Survey, the 30-year fixed-rate mortgage in the U.S. averaged the lowest rate in our survey's history which dates back to 1971.