Tag Archives: Zillow

According to a new report from Zillow, legal protections come at a cost for LGBTQIA+ home shoppers, as typical home values in areas with explicit legal protections for the community are an estimated 46% more expensive than areas with no protections.

The U.S. Census Bureau and HUD have found that new, single-family home sales were at a seasonally-adjusted annual rate of 763,000 in May 2023, 12.2% above April 2023’s rate of 680,000 marking the highest level reported since February 2022.

A lack of affordable homes has created millions of “missing households” which are keeping families in shared homes or the rental market.

Despite a rise in overall mortgage apps week-over-week, the MBA reports that mortgage rates are a percentage point higher than a year ago, and when combined with low for-sale inventory, is constraining home buying activity in many markets.

The MBA reports that mortgage credit availability fell for the third straight month in May, dropping to levels last recorded in January 2013.

According to Zillow's May 2023 Market Report, newly pending listings are up nearly 10% from April, as homebuying competition is driving home prices up and housing inventory down to record lows for this time of year.

“While elevated rates and other affordability challenges remain, inventory continues to be the biggest obstacle for prospective homebuyers,” said Freddie Mac Chief Economist Sam Khater.

In a new Zillow report, research shows support is growing among both homeowners and renters for "missing middle" housing developments, as 70% of respondents believe new housing is crucial to producing affordability in their community and support building them in their neighborhoods.

"Understanding all the costs that come with homeownership can not only impact a buyer's budget, but the type of home they shop for, too," said Zillow home trends expert Amanda Pendleton.

"High incomes and homeownership gains may overshadow the significant housing affordability challenges still faced by many AAPI households," concluded Nicole Bachaud, Senior Economist at Zillow.