US homebuyers need an annual income of $115,454 to afford the median priced home, down 1.4% year-over-year and the first annual decline since June 2020, Redfin reported.
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FHFA House Price Index Increases 4.5% Year-Over-Year in July
US house prices, seasonally adjusted, increased 0.1% in July. Year-over-year, house prices rose 4.5%.
S&P CoreLogic Case-Shiller Index Reports 5.0% Annual Home Price Gain in July
The S&P CoreLogic Case-Shiller US National Home Price NSA Index posted an annual gain of 5.0% in July, down from a 5.5% annual increase in June.
US Consumer Confidence Index Declines in September
The Conference Board Consumer Confidence Index declined to 98.7 in September, down from an upwardly revised reading of 105.6 in August.
Share of Mortgage Loans in Forbearance Increases for Third Consecutive Month in August
The number of loans in forbearance increased to 0.31% of servicers’ portfolio volume as of August 31st, up from 0.27% in July, MBA reported.
Share of First-Time Buyers For New Single-Family Homes Declines in 2024
40% of builders’ single-family home sales so far in 2024, on average, have been made to first-time home buyers, NAHB and Wells Fargo reported.
Canadian New Housing Price Index Unchanged in August
The New Housing Price Index was unchanged month-over-month in August. Year-over-year, the index was unchanged, following a 0.1% increase in July.
Prices Flat for Inputs to Residential Construction in August
The price of inputs to residential construction, goods, remained flat in August after increasing 0.1% in July, the BLS and NAHB reported.
Canadian Industrial Product and Raw Materials Price Indexes for August
Prices for lumber and other wood products rose 2.1%, with softwood lumber rebounding 7.7% after four consecutive monthly declines.
US Housing Payments Post Biggest Year-Over-Year Decline Since May 2020
During the four-week period ending on September 15th, the median US housing payment was $2,534, down 2.7% from a year earlier—the biggest decline since May 2020—Redfin reported.