Author name: beafloridian.com

The dream of homeownership is becoming increasingly elusive for first-time buyers as surging home prices and soaring mortgage rates make renting more appealing. In just three of the nation’s 50 largest metropolitan areas—Memphis, Tenn., Pittsburgh, Penn., and Birmingham, Ala.—it’s more cost-effective to buy than rent. High mortgage rates, averaging over 7%, have pushed up homeowners’Read …

Renting Remains More Affordable Than Buying in Most US Metro Areas Read More »

Rental prices in the 50 largest U.S. metros dropped by 0.6% in August, with the median rent reaching $1,752 per month, according to Realtor.com. This marks the fourth consecutive month of year-over-year rent declines for studios and one- and two-bedroom properties. While rents are dropping, they remain above pre-pandemic levels, with costs being 23.7% higherRead …

Rents Are Falling the Most in These Former Pandemic Hotspots Read More »

New-home construction dropped by 11.3% in August, falling short of expectations as builders shifted their focus from new starts to project completions due to elevated mortgage rates surpassing 7%. The annual pace of housing starts fell to 1.28 million, with single-family home construction posting a 4.3% decline and apartment construction plummeting by 26.3%, according toRead …

How Elevated Mortgage Rates Are Affecting Housing Starts Read More »