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Yahoo
24-05-2025
- Business
- Yahoo
Actually, A Recession Might Be A Win For Homebuyers
More than 60% of respondents to a survey said they see a recession on the horizon, and nearly 30% said that an economic downturn could present a homebuying opportunity. A recession could mean lower mortgage rates and fewer competitive bidders, the report said. Potential buyers saw several obstacles to a home purchase, including limited inventory and credit qualifications. But a majority said a recession wouldn't deter their efforts to buy a than half of homebuyers are worried that a recession is on the horizon. But for some, an economic downturn could be the perfect homebuying opportunity. About than 60% of potential homebuyers in quarterly survey said they see a recession coming within the year. However, nearly 30% of them think an economic downturn would make it easier for them to buy a home. 'While concerns are definitely present, some buyers anticipate that a downturn can bring opportunity,' said Danielle Hale, chief economist at They see key homebuying incentives during a recession, including mortgage rates that are likely to be lower than current levels, as well as less competition from other buyers. The survey showed that homebuyers are often more concerned about their own financial situation than the overall economic conditions. More than 54% said that a recession would not impact their homebuying decisions, while only 15% said an economic downturn would deter them from purchasing a home. 'Well-prepared buyers who have been waiting on the sidelines are likely motivated by personal and lifestyle needs like growing families, new jobs, or retirements," Hale said. "And these considerations can outweigh short-term economic uncertainties,' While a worsening economy could create challenges, the survey showed that potential buyers are already having a difficult time under current economic conditions. They said the biggest obstacle was the limited number of available properties to choose from—44% cited limited inventory as a major concern. Available home listings have improved recently, but they were still more than 16% below the historical average. Budgetary constraints were a top concern for 36% of buyers, while others said credit availability and mortgage qualifications were big challenges. However, many homebuyers didn't mention competition from other buyers. Only about 8% said that tough bidding was hurting their homebuying efforts. 'This trend aligns with increased time on market, a moderate rise in listings, and more stable pricing; all of which point to a slower, less stressful home search experience,' the report said. Read the original article on Investopedia
Yahoo
19-05-2025
- Business
- Yahoo
Warren County home listings asked for less money in April - see the current median price here
The median home in Warren County listed for $124,950 in April, slightly down from the previous month's $125,000, an analysis of data from shows. Compared to April 2024, the median home list price slightly decreased from $125,000. The statistics in this article only pertain to houses listed for sale in Warren County, not houses that were sold. Information on your local housing market, along with other useful community data, is available at Warren County's median home was 21 square feet, listed at $0.07 per square foot. The price per square foot of homes for sale is down 4.7% from April 2024. Listings in Warren County moved steadily, at a median 91 days listed compared to the April national median of 50 days on the market. In the previous month, homes had a median of 80 days on the market. Around 22 homes were newly listed on the market in April, a 57.1% increase from 14 new listings in April 2024. The median home prices issued by may exclude many, or even most, of a market's homes. The price and volume represent only single-family homes, condominiums or townhomes. They include existing homes, but exclude most new construction as well as pending and contingent sales. Across the Galesburg metro area, median home prices rose to $151,150, slightly higher than a month earlier. The median home had 69 square feet, at a list price of $0.12 per square foot. In Illinois, median home prices were $312,500, a slight increase from March. The median Illinois home listed for sale had 16,984 square feet, with a price of $0.1 per square foot. Throughout the United States, the median home price was $431,250, a slight increase from the month prior. The median American home for sale was listed at 467,514 square feet, with a price of $0.18 per square foot. The median home list price used in this report represents the midway point of all the houses or units listed over the given period of time. Experts say the median offers a more accurate view of what's happening in a market than the average list price, which would mean taking the sum of all listing prices then dividing by the number of homes sold. The average can be skewed by one particularly low or high price. At your fingertips: Accessing local journalism is even easier with the Galesburg Register-Mail app The USA TODAY Network is publishing localized versions of this story on its news sites across the country, generated with data from Please leave any feedback or corrections for this story here. This story was written by Ozge Terzioglu. Our News Automation and AI team would like to hear from you. Take this survey and share your thoughts with us. This article originally appeared on Galesburg Register-Mail: Warren County home listings asked for less money in April - see the current median price here
Yahoo
18-05-2025
- Business
- Yahoo
New Castle home listings asked for more money in April - see the current median price
The median home in New Castle County listed for $409,950 in April, up 5.1% from the previous month's $389,900, an analysis of data from shows. Compared to April 2024, the median home list price decreased 8.8% from $449,250. The statistics in this article only pertain to houses listed for sale in New Castle County, not houses that were sold. Information on your local housing market, along with other useful community data, is available at Sussex County: Home listings asked for more money in April - see the current median price Kent County: Home listings asked for more money in April - see the current median price New Castle County's median home was 756 square feet, listed at $0.11 per square foot. The price per square foot of homes for sale is up 1.9% from April 2024. Listings in New Castle County moved briskly, at a median 29 days listed compared to the April national median of 50 days on the market. In the previous month, homes had a median of 34 days on the market. Around 604 homes were newly listed on the market in April, an 8.2% increase from 558 new listings in April 2024. The median home prices issued by may exclude many, or even most, of a market's homes. The price and volume represent only single-family homes, condominiums or townhomes. They include existing homes, but exclude most new construction as well as pending and contingent sales. Across the Philadelphia-Camden-Wilmington metro area, median home prices rose to $375,000, slightly higher than a month earlier. The median home had 8,846 square feet, at a list price of $0.13 per square foot. In Delaware, median home prices were $489,950, a slight increase from March. The median Delaware home listed for sale had 1,980 square feet, with a price of $0.14 per square foot. Throughout the United States, the median home price was $431,250, a slight increase from the month prior. The median American home for sale was listed at 467,514 square feet, with a price of $0.18 per square foot. The median home list price used in this report represents the midway point of all the houses or units listed over the given period of time. Experts say the median offers a more accurate view of what's happening in a market than the average list price, which would mean taking the sum of all listing prices then dividing by the number of homes sold. The average can be skewed by one particularly low or high price. The USA TODAY Network is publishing localized versions of this story on its news sites across the country, generated with data from Please leave any feedback or corrections for this story here. This story was written by Ozge Terzioglu. Our News Automation and AI team would like to hear from you. Take this survey and share your thoughts with us. This article originally appeared on Delaware News Journal: New Castle County home listings asked for more money in April
Yahoo
18-05-2025
- Business
- Yahoo
Sussex County home listings asked for more money in April - see the current median price
The median home in Sussex County listed for $549,950 in April, slightly up from the previous month's $549,900, an analysis of data from shows. Compared to April 2024, the median home list price decreased 2.5% from $564,088. The statistics in this article only pertain to houses listed for sale in Sussex County, not houses that were sold. Information on your local housing market, along with other useful community data, is available at New Castle County: Home listings asked for more money in April - see the current median price here Kent County: Home listings asked for more money in April - see the current median price Sussex County's median home was 911 square feet, listed at $0.16 per square foot. The price per square foot of homes for sale is up 3.7% from April 2024. Listings in Sussex County moved steadily, at a median 49 days listed compared to the April national median of 50 days on the market. In the previous month, homes had a median of 51 days on the market. Around 694 homes were newly listed on the market in April, a 17.6% increase from 590 new listings in April 2024. The median home prices issued by may exclude many, or even most, of a market's homes. The price and volume represent only single-family homes, condominiums or townhomes. They include existing homes, but exclude most new construction as well as pending and contingent sales. Across the Philadelphia-Camden-Wilmington metro area, median home prices rose to $375,000, slightly higher than a month earlier. The median home had 8,846 square feet, at a list price of $0.13 per square foot. In Delaware, median home prices were $489,950, a slight increase from March. The median Delaware home listed for sale had 1,980 square feet, with a price of $0.14 per square foot. Throughout the United States, the median home price was $431,250, a slight increase from the month prior. The median American home for sale was listed at 467,514 square feet, with a price of $0.18 per square foot. The median home list price used in this report represents the midway point of all the houses or units listed over the given period of time. Experts say the median offers a more accurate view of what's happening in a market than the average list price, which would mean taking the sum of all listing prices then dividing by the number of homes sold. The average can be skewed by one particularly low or high price. The USA TODAY Network is publishing localized versions of this story on its news sites across the country, generated with data from Please leave any feedback or corrections for this story here. This story was written by Ozge Terzioglu. Our News Automation and AI team would like to hear from you. Take this survey and share your thoughts with us. This article originally appeared on Delaware News Journal: Sussex County home listings asked for more money in April
Associated Press
14-05-2025
- Business
- Associated Press
Renters Spent 23.4% of their Incomes on Rent in April, Significantly Under the "30% Rule"
AUSTIN, Texas, May 14, 2025 /PRNewswire/ -- Across the U.S. rents are growing more affordable after pandemic era spikes. New data from the April Rent Report found that renters earning the typical household income devoted 23.4% of their income to lease a typical for-rent home, which was down from 24.7% in April 2024. While this varies metro to metro, only five of the top 50 U.S. metros had a rent share higher than 30% relative to the median household income. Nationally in April the median asking rent settled at $1,699, showing a slight $5 increase from the previous month but remaining $60 below its August 2022 peak. 'One approach to measuring rental affordability is the 30% rule of thumb that says a household should spend no more than 30% of its gross income on housing costs. Using this measure, the typical for-rent home is affordable in most major U.S. metros for renters earning the typical household income,' said Danielle Hale, chief economist, 'Even in unaffordable markets, we saw improvement in April. Generally small but steady rent declines have chipped away at rental costs for nearly 3 years, and income growth has boosted household buying power. While this is good news, rent prices are still roughly 20% above pre-pandemic levels, and consumers have expressed concerns about their job security and financial situation in recent surveys.' Oklahoma City, Okla., emerged as the most affordable rental market in April, where the median rent for a typical 0-2 bedroom unit represented only 55.6% of the estimated maximum affordable rent. Furthermore, significant affordability improvements observed in Southern markets like Miami, and Tampa, Fla., last year were followed by notable gains in Western metros this year, including San Diego, Denver, and Phoenix, Ariz. Miami stood out as the least affordable rental market in April. The median rent for a standard 0-2 bedroom unit in Miami was 1.3 times greater than the estimated maximum affordable rent for a household with the median income. Miami is followed by major coastal and Southern California metros including New York, Los Angeles, Boston, and San Diego. Despite being the least affordable, the rent-to-income ratio in all five of these metros has declined compared to the same time last year, signaling a modest improvement in affordability across these cost-burdened markets. Rental Markets With a Rental Burden Above 30% of Income (0-2 Bedrooms)–April 2025 Top 5 Most Affordable Rental Markets (0-2 Bedrooms)–April 2025 Rental Markets With the Most Improved Affordability (0-2 Bedrooms)–April 2025 While April rents were $293 (20.8%) above pre-pandemic 2019 levels, this growth aligns with the rise in overall consumer prices during the same six-year period. This rent increase is significantly less than the 54% surge in the median price-per-square foot of for-sale home listings over the same timeframe. The relative steadiness in rents should translate into slower shelter inflation in the months ahead, alleviating one of the biggest recent drivers of a rising price level. Nationally Rents Decline For Another Month Across the 50 largest metropolitan areas, the median asking rent settled at $1,699, showing a slight $5 increase from the previous month but down $29 or 1.7% from last year, and $60 below the peak reached in August 2022. Rent prices experienced a seasonal increase in April, a common trend during the spring and summer months. An ongoing influx of new multifamily units is slowing the pace of rental increases, thereby easing pricing pressure. Consequently, the national rental vacancy rate increased to 7.1% in the first quarter of the year—the highest it has been since the third quarter of 2018. This higher vacancy rate creates a more advantageous environment for renters this spring. National Rents by Unit Size Top 50 Markets Rental Trends (Alphabetical Order) Methodology Rental data as of April 2025 for studio, 1-bedroom, or 2-bedroom units advertised as for-rent on Rental units include apartments as well as private rentals (condos, townhomes, single-family homes). We use rental sources that reliably report data each month within the 50 largest metropolitan areas. began publishing regular monthly rental trends reports in October 2020 with data history stretching back to March 2019. Rental affordability analysis: The affordable monthly rent is calculated by applying the 30% rule to the estimated 2025 monthly median household income nationwide ($7,263) across the 50 largest U.S. metros, on average) and in each metro. The monthly median household income is derived from the annual median household income data sourced from Claritas. About pioneered online real estate and has been at the forefront for over 25 years, connecting buyers, sellers, and renters with trusted insights, professional guidance and powerful tools to help them find their perfect home. Recognized as the No. 1 site trusted by real estate professionals, is a valued partner, delivering consumer connections and a robust suite of marketing tools to support business growth. is operated by News Corp [Nasdaq: NWS, NWSA] [ASX: NWS, NWSLV] subsidiary Move, Inc. Media contact: Mallory Micetich, [email protected] View original content: SOURCE
