74% of homeowners and renters struggle to afford monthly payments
Tagged: Housing Prices
August sales dip, but analysts eye year-end comeback with lower rates and rising supply
House price indices show price tags not letting up.
July report indicates continued growth at 2.3% but slower monthly gains and regional discrepancies raise questions about market stability.
Average one-year-ahead home-price growth expectations fell to 2.6%, the lowest reading since the survey began in 2014.
Housing inventory levels increased year over year for the 10th consecutive month.
Payments of nearly $2,600 further dampen homebuying affordability.
Share of U.S. homes worth at least $1 million has fallen to 7% from 8.6% last June.
In January, inventories rose and price-growth leveled off as mortgage rates continued to decline.
Profits on typical sales increase between 45% and 51% nationwide.