Found 3 blog entries tagged as Homebuyers.

Mapped: The Income Required to Buy a Home in Every U.S. State


Two recent reports tackled the growing income hurdle facing homebuyers, and while their numbers differ slightly, their conclusions are similar. Bankrate estimates that purchasing a median-priced home in the U.S. (roughly $418,500) requires a household income of about $116,986, up nearly 50% from $78,236 in early 2020. Realtor.com puts the figure at $114,000 and highlights a dramatic shift at the state level: over 30 states (plus D.C.) now demand six-figure incomes to afford a typical home, a steep jump from just six states five years ago.

Exploring key aspects of housing affordability:

  • Stagnant Wage Growth: Income growth has not kept pace, widening the gap…

1928 Views, 0 Comments

Read Full Post

First Comes Homeownership… Then Comes Marriage

A growing number of couples are prioritizing homeownership over marriage, seeing it as a greater commitment and a foundation for financial stability, according to Realtor.com. The trend reflects shifting societal norms and rising housing costs, with unmarried couples making up more than 11% of U.S. home sales in 2023, a significant increase from previous decades. Factors like rising ages for marriage and homeownership, along with financial benefits of owning a home, are driving this change.

Ralph’s Take

The growing trend of prioritizing homeownership over marriage reflects a shift toward financial stability and investment over traditional milestones. Homeownership offers…

447 Views, 0 Comments

Read Full Post

This Year's Best Opportunity for Buyers

The Village of Scarsdale in New York

Last week I gave local examples of why I expected this fall to be the best time to buy a home in 2024. This week Realtor.com offered their opinion that the best time to buy a home in our metro area is next week. Buyers can expect up to 37% more active listings compared to earlier in the year and potential savings of over $14,000 compared to the summer peak for a median-priced home of $445,000. Here’s their findings for the New York / New Jersey Metro Area:

  • The best week to buy is Sept 15th - 21st

  • Active Listings vs. Average: +14.0%

  • Views per Property vs. Peak: -29.5%

  • Days on Market vs. Peak: +13 Days

  • Median List Price vs. Peak: - 5.6%

  • …

300 Views, 0 Comments

Read Full Post