Housing market

But suburban owners still want to be close to downtown amenities.

A staple of the American housing market, starter homes still exist. But these lower-priced residences look different and cost more now.

People who sold a median-price home last year made more than $120,000 in profit on a typical sale, according to a new report out today from the property data company ATTOM.

High mortgage costs, low supply of houses for purchase and high rents made for a pretty bleak year. But there's a glimmer of light on the horizon.

Realty firm Redfin said homes are less affordable than at any time since they started tallying the numbers 11 years ago.

They were up 6.7% in September from a year ago, according to an index out this week from S&P CoreLogic Case-Shiller — the highest of the 20 metro areas.

New home sales fell 5.6% in October, but they're still up 18% over last year. And they make up a record share of total inventory.

The number of completed homes rose last month. But further up the housing pipeline, homebuilders are starting fewer projects right now.

The average monthly payment on a new mortgage rose 46% in 2022, and home prices and mortgage rates have continued to climb in 2023.

Both the buyer and the seller have unrealistic expectations right now, while prices and mortgage rates are high.