Today's Headlines - Realty Times

People of color are taking out a rising share of mortgages because an increasing share of them are of prime homebuying age, and because America is becoming more diverse. They’ve also seen larger income gains than white people in recent years.

The share of U.S. mortgages taken out by white homebuyers has declined over the last five years, while the share taken out by Hispanic, Black and Asian homebuyers has ticked up. That’s according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage.

The report is based on a Redfin analysis of 2018-2023 Home Mortgage Disclosure Act (HMDA) data covering mortgage originations for primary homes. This analysis does not cover originations for investment properties or second homes.

Just under two-thirds (62.2%) of new mortgages issued in 2023 went to white homebuyers. While that’s a far higher share than any other group, it’s down from 64% in 2022 and 70.4% in 2018. It’s also now more in line with the country’s demographics, as 59.5% of the U.S. population is white (as of 2022, the most recent year for which data is available).

Meanwhile, the share of new mortgages taken out by Hispanic buyers increased to 14% in 2023 from 12.6% in 2022 and 11% in 2018. Black buyers represented 8.7% of new mortgage holders last year—little changed from 8.6% in 2022 but up from 7.1% in 2018. Still, these figures lag demographic trends, as 18.8% of the U.S. population is Hispanic and 12.2% of the population is Black.

Asian buyers took out 8.2% of new mortgages in 2023, unchanged from 2022 but higher than the 6.4% rate in 2018. Asian mortgage holders are tracking slightly ahead of demographic trends, as 5.9% of the U.S. population is Asian.

All in all, people who are Hispanic, Black, Asian or two or more races took out 37.8% of new mortgages last year, up from 36% in 2022 and 29.6% in 2018.

“The pool of homebuyers taking out mortgages is becoming less white because America is becoming more diverse, and many people of color are in their prime homebuying years,” said Redfin Senior Economist Elijah de la Campa. “The racial wage gap, while still sizable, has also been shrinking. That has made homeownership more feasible for some Black and Hispanic people, though they’re still significantly less likely to own homes than white people.”

Hispanic, Black and Asian People Have Seen Larger Income Gains Than White People

The median annual income for Hispanic people in the U.S. was an estimated $69,000 in 2023, up 40.2% from 2018. That’s much larger than the gain for white people, whose median income rose 31% to an estimated $86,000. Black and Asian people also saw bigger increases in estimated incomes, which climbed a respective 34.7% to $54,000 and 36.4% to $114,000.

The racial wage gap remains large, but has shrunk in recent years in part due to a tight labor market. When the labor market is tight, employers are often less selective and look for candidates outside of their networks, which provides opportunities for marginalized communities.

It’s worth noting that the unemployment rate in the Black population has ticked up in recent months.

America Is Becoming More Diverse

White people make up 59.5% of the U.S. population (as of 2022), down from 61.6% in 2018, 69.7% in 2000 and 84.1% in 1970. Meanwhile, people of color have taken up a growing share of the population, with Hispanic people seeing the biggest uptick. They represent 18.8% of the U.S. population, up from 18% in 2018, 12.6% in 2000 and 4.1% in 1970.

The Black share of the population is the exception, stagnating in comparison; at 12.2%, it's little changed from 12.4% in 2018 and 12.1% in 2000, but is up slightly from 11% in 1970.

The number of people in the U.S. who identify as white (a different metric than the share) recently declined for the first time since 1790.

“In addition to lower fertility and immigration, much of this loss is attributable to the continued aging of the white population. Fewer births and more deaths resulted in a natural decrease (more deaths than births) for the 2010s decade, even before the COVID-19 pandemic,” William Frey, a senior fellow at the Brookings Institution, wrote in a 2021 report. “In addition, the rise of multiracial marriages has led to an increase in the number of young people who identify as mixed race rather than white alone. The new census results also show a substantial rise in the number of Americans that indicated belonging to two or more racial groups.”

A Rising Share of Hispanic, Black and Asian People Are of Prime Homebuying Age

More than one in five (21.1%) Hispanic people living in the U.S. are of prime homebuying age (25-34), up from 20.6% in 2018 and 16.5% in 2000. Meanwhile, 13.7% of Black U.S. residents are of prime homebuying age, up from 13.4% in 2018 and 12.6% in 2000. The share has also ticked up among Asian people, to 7% from 6.9% in 2018 and 4.9% in 2000.

But the opposite is true for white people, 54.4% of whom are of prime homebuying age. While that’s a higher share than any other group, it’s down from 56.6% in 2018 and 64.1% in 2000. Please note that the most recent year in this dataset is 2022.

The most common age among white people in the U.S. is 60—far beyond prime homebuying age. That’s roughly double the most common ages of Black and Asian people and five times higher than the most common age of Hispanic people.

White People Are Buying Fewer Homes Than They Used to

White people took out 1,582,643 mortgages in 2023, down 22.1% from a year earlier and down 31.3% from 2018. By comparison, Hispanic people took out 355,757 mortgages, down just 11.1% year over year and down 1.3% from 2018. Asian people took out 209,085 mortgages, down 19.9% year over year and down 0.5% from 2018. And Black people took out 220,410 mortgages, down 19.4% from a year earlier and down 5.7% from 2018.

Home purchases have dropped across the board over the past year due to rising mortgage rates and high home prices, but it’s notable that the declines were more severe among white people.

Most white people already own homes, meaning there’s not a lot of room for growth. Nearly three-quarters (74%) of white people in the U.S. own homes, compared with 62.2% of Asian people, 49.9% of Hispanic people and 45.7% of Black people.

While white people are the most likely to be homeowners, it’s worth noting that their homeownership rate has stagnated in recent years while the homeownership rates for Hispanic, Black and Asian people have climbed—helping to narrow the gap slightly.

To view the full report, including charts and methodology, please visit:

Posted On Saturday, 04 May 2024 08:13 Written by

The FED didn’t cut rates and some seemed surprised. Inflation is still an issue, and some seem surprised. Stagflation is now a strong possibility, but some seem surprised. The Treasury department is struggling how to continue to borrow money to feed the debt, but some seem surprised. Housing prices and rents continue to rise, but some seem surprised. Credit card debt keeps setting new records, and yet some seem surprised. Job creation keeps growing, but we have fewer full-time workers than we had prior to covid and some seem surprised. There has yet to be any ruling from the judge dealing with the NAR settlement, and yet some seem surprised. It is very important that each of us stay connected to information we can trust so we don’t get surprised!

More information that can move the market happens this morning with initial and continuing jobless claims, and Friday morning we will see the April Jobs Report, and as we have seen in the past, these numbers can make the markets move! So, pay attention this morning and Friday morning to these numbers.

I wanted to take a minute to congratulate Megan Cloud of San Antonio Texas for be recognized by Scotsman’s Guide as the #41 ranked in dollar volume in the country for female loan originators, and #15 in units closed. Far too often, women in the mortgage industry are not properly recognized for their accomplishments. I met Megan a number of years ago when my wife met her at a convention and told me that Megan could be a superstar in the industry with just a little help. Since I never argue with my wife’s opinion about people, it was important for me to speak with her and understand what her vision was for the future. I believed after speaking with her that she was selling herself short in what was possible.

While I have been fortunate to have worked with some of the top producers in this industry over the years, being part of the Megan Cloud story is a true highlight of a more than 40-year connection to mortgage and real estate! Congratulations Megan, there is so much more you can achieve, as long as you believe!

Questions or comments: This email address is being protected from spambots. You need JavaScript enabled to view it.

Posted On Monday, 06 May 2024 00:00 Written by
Posted On Friday, 03 May 2024 11:04
Posted On Friday, 03 May 2024 10:34
Posted On Friday, 03 May 2024 10:25
Posted On Friday, 03 May 2024 10:01

LendingTree surveyed 2,000 people and found that common causes of friction between landlords and renters include maintenance issues, poor communication and a lack of professionalism. We also found that a third of renters say they’ve been discriminated against based on factors like race and age. Here's a closer look at our findings. 

  • 58% of renters say they’ve had at least one landlord they didn’t like, with 1 in 4 (25%) disliking their current one. Among those who disliked a landlord, the bad blood was mainly due to maintenance (68%) and communication issues (53%) or a lack of respect or professionalism (42%).
  • 31% of renters say a landlord has entered their home without permission, while 21% have had a legal dispute with theirs.
  • Almost half (48%) would rather rent from an individual than a corporation, with 49% of renters believing it’s cheaper. Additionally, 57% of renters think the government should limit how many homes an individual or corporation can own.
  • 37% say they couldn’t afford any increase in rent and 36% would only be able to afford an increase of 5% or less.

You can check out our full report here: https://www.lendingtree.com/home/mortgage/landlord-survey/

LendingTree's Senior Economist and report author, Jacob Channel, had this to say. 

"If you’re being discriminated against because of your race, immediately reach out to a local tenant advocacy group, local housing authority or the Department of Housing and Urban Development and ask for help. If a landlord is found guilty of discrimination based on something like race, they may be required to pay for the costs you incurred while you found another place to live."

Posted On Sunday, 05 May 2024 08:33 Written by

The South Leads the Way in Affordable Inventory Growth

According to the Realtor.com® April housing data, the national required household income to purchase the median priced home rose to $116,000, up $5,900 from a year ago, after accounting for the cost of tax and insurance. For hopeful buyers in California’s major metros of Los Angeles, San Diego, San Francisco and San Jose the household income required to purchase the median-priced home is over double the national figure. 

April 2024 Housing Metrics – National

Metric

Change over Apr 2023

Change over Apr 2019

Median listing price

+0% (to $430,000)

+36.5%

Active listings

+30.4%

-35.4%

New listings

+12.1%

-21.8%

Median days on market

+1 days (to 47 days)

-7  days

Share of active listings with price reductions

+3.2 percentage points 

(to 15.5%)

+1.0  percentage points

“California is a fascinating market not only because the income-required figures are an eye-popping quarter of a million dollars, but because it is a microcosm of the variety we’re seeing in housing markets nationally,” said Danielle Hale, Chief Economist, Realtor.com®. “In areas like San Francisco home prices have fallen enough to offset rising mortgage rates, and the income needed to buy a home has dropped. In other markets, like San Jose and Sacramento, home price declines have been more modest and rising mortgage rates have pushed required incomes higher despite lower home prices. And finally, the majority of major U.S. markets see trends like we’re seeing in Southern California. In Los Angeles, Riverside, and San Diego rising home prices and mortgage rates have combined to push required incomes higher—in some cases like in these California markets, up by double-digits compared to one year ago.” 

Buying in California Comes at a Price

Six metros across the country required a household income of over $200,000, with California’s largest metros leading the pack: San Jose (household income $361,000), Los Angeles (household income $298,000), San Diego (household income $259,000) and San Francisco (household income $256,000). The major East Coast hubs of Boston (household income $226,000) and New York (household income $218,000) closely followed.  

Counter to the larger household income required to purchase the median-priced home in the major coastal metros, there were 16 metro areas that required a household income of less than $100,000. The most affordable by this measure were Pittsburgh (household income $67,000), Detroit (household income $69,000), and Cleveland (household income $71,000). 

List of the 10 Metro Areas with Lowest Required Income to Purchase Median Home

  1. Pittsburgh, Pa. - $67,000
  2. Detroit-Warren-Dearborn, Mich. - $69,000
  3. Cleveland-Elyria, Ohio - $71,000
  4. Birmingham-Hoover, Ala. - $75,000
  5. Buffalo-Cheektowaga, N.Y. - $79,000
  6. St. Louis, Mo.-Ill. - $82,000
  7. Rochester, N.Y. - $87,000
  8. Indianapolis-Carmel-Anderson, Ind. - $87,000
  9. Louisville/Jefferson County, Ky.-Ind. - $87,000
  10. New Orleans-Metairie, La.- $90,000

Fear Not, Affordable Inventory is Also on the Rise

While the west coast state experienced a bit of a surge in household required income to purchase the median-priced home, in other parts of the country, affordable inventory is on the rise. The South has been largely driving the increase in availability of homes in the $200,000 to $350,000 price range, and the increase in availability of homes overall. More than half (56.6%) of available inventory in April 2024 was in the South, up from 52.0% last year and 47.7% in April 2019. A rise in homes available for purchase combined with population migration has paved the way for the South to lead the share of nationwide existing home sales, rising from 43.2% in March 2019 to 45.3% in March 2024. Across the country active inventory grew over the previous year with inventory in the South growing 43.0%, 27.4% in the West, 17.6% in the Midwest, and 4.0% in the Northeast. Interestingly, large Florida metros experienced inventory growth driven primarily by an increase in the availability of attached homes (condos, townhomes, or row homes).

Median List Price Stays Stable, but Price per Square Foot Inches its Way Up 

Between March 2024 and April 2024, the U.S. median list price increased from $424,900 to $430,000, while remaining stable compared to the same median list price in April of last year. This is likely attributed to the mix of homes hitting the market particularly in the South where sellers are listing smaller and more affordable homes. While median list price has remained relatively unchanged, the median list price grew 3.8% on an adjusted per-square-foot basis indicating that homes are retaining value even as inventory grows. 

Additional details and full analysis of the market inventory levels, income requirements, trends in listing prices and more can be found in the Realtor.com® April Monthly Housing Report. For buyers looking to gain more local-market insights to guide their decision making, visit realtor.com/research to access online tools and better understand ways to partner with an experienced buyer’s agent for help along the way. 

List of Metro Areas Sorted by Required Income to Purchase Median Home (Least to Most)

Metro Area

Required Income to Purchase Median Home*

Required Income to Purchase Median Home YoY

Median Listing Price

Median Listing Price YoY

Median Listing Price per Sq. Ft. YoY

Pittsburgh,

  Pa.

$67,000

17.10%

$250,000

11.10%

12.00%

Detroit-Warren-Dearborn,

  Mich.

$69,000

5.30%

$250,000

0.00%

2.30%

Cleveland-Elyria,

  Ohio

$71,000

19.30%

$255,000

13.40%

11.70%

Birmingham-Hoover,

  Ala.

$75,000

10.20%

$297,000

4.20%

4.30%

Buffalo-Cheektowaga,

  N.Y.

$79,000

20.00%

$285,000

14.00%

9.80%

St.

  Louis, Mo.-Ill.

$82,000

8.70%

$294,000

3.30%

5.20%

Indianapolis-Carmel-Anderson,

  Ind.

$87,000

8.80%

$340,000

3.00%

5.50%

Louisville/Jefferson

  County, Ky.-Ind.

$87,000

8.00%

$327,000

2.30%

2.50%

Rochester,

  N.Y.

$87,000

16.80%

$295,000

11.40%

8.10%

New

  Orleans-Metairie, La.

$90,000

3.90%

$335,000

-1.40%

-2.30%

Baltimore-Columbia-Towson,

  Md.

$91,000

9.40%

$352,000

3.60%

2.80%

Memphis,

  Tenn.-Miss.-Ark.

$91,000

10.20%

$339,000

4.50%

2.20%

Oklahoma

  City, Okla.

$98,000

-2.20%

$330,000

-6.80%

-0.60%

Cincinnati,

  Ohio-Ky.-Ind.

$99,000

2.70%

$375,000

-2.60%

4.00%

Philadelphia-Camden-Wilmington,

  Pa.-N.J.-Del.-Md.

$100,000

14.80%

$370,000

8.90%

7.10%

San

  Antonio-New Braunfels, Texas

$100,000

2.90%

$345,000

-2.00%

-1.20%

Virginia

  Beach-Norfolk-Newport News, Va.-N.C.

$100,000

7.30%

$390,000

1.60%

5.80%

Milwaukee-Waukesha,

  Wis.

$102,000

7.50%

$376,000

2.00%

6.80%

Charlotte-Concord-Gastonia,

  N.C.-S.C.

$106,000

5.20%

$422,000

-0.60%

4.40%

Atlanta-Sandy

  Springs-Alpharetta, Ga.

$108,000

4.30%

$415,000

-1.20%

3.70%

Columbus,

  Ohio

$108,000

8.40%

$397,000

2.90%

6.20%

Jacksonville,

  Fla.

$108,000

8.30%

$420,000

2.40%

3.70%

Tampa-St.

  Petersburg-Clearwater, Fla.

$109,000

7.60%

$420,000

1.90%

3.20%

Raleigh-Cary,

  N.C.

$113,000

2.70%

$451,000

-3.00%

5.20%

Las

  Vegas-Henderson-Paradise, Nev.

$114,000

9.50%

$475,000

3.20%

7.00%

Richmond,

  Va.

$114,000

14.30%

$459,000

8.00%

6.10%

Chicago-Naperville-Elgin,

  Ill.-Ind.-Wis.

$115,000

10.70%

$389,000

5.50%

7.10%

Orlando-Kissimmee-Sanford,

  Fla.

$116,000

5.10%

$440,000

-0.40%

1.70%

Hartford-East

  Hartford-Middletown, Conn.

$118,000

6.60%

$406,000

1.60%

11.50%

Houston-The

  Woodlands-Sugar Land, Texas

$118,000

4.20%

$370,000

-0.30%

0.80%

Kansas

  City, Mo.-Kan.

$119,000

-3.60%

$422,000

-8.30%

-4.30%

Minneapolis-St.

  Paul-Bloomington, Minn.-Wis.

$122,000

5.20%

$449,000

-0.10%

-0.50%

Phoenix-Mesa-Chandler,

  Ariz.

$132,000

10.30%

$537,000

4.10%

3.20%

Providence-Warwick,

  R.I.-Mass.

$138,000

4.40%

$524,000

-1.00%

-1.80%

Dallas-Fort

  Worth-Arlington, Texas

$139,000

2.40%

$450,000

-2.20%

1.10%

Nashville-Davidson-Murfreesboro-Franklin,

  Tenn.

$142,000

7.60%

$573,000

1.70%

6.30%

Riverside-San

  Bernardino-Ontario, Calif.

$152,000

11.50%

$600,000

5.40%

7.10%

Miami-Fort

  Lauderdale-Pompano Beach, Fla.

$153,000

-6.20%

$540,000

-10.70%

-6.60%

Portland-Vancouver-Hillsboro,

  Ore.-Wash.

$156,000

3.40%

$615,000

-2.20%

1.80%

Austin-Round

  Rock-Georgetown, Texas

$157,000

3.00%

$557,000

-2.00%

1.00%

Washington-Arlington-Alexandria,

  DC-Va.-Md.-W. Va.

$159,000

6.60%

$625,000

0.80%

7.30%

Sacramento-Roseville-Folsom,

  Calif.

$162,000

4.20%

$650,000

-1.60%

3.40%

Denver-Aurora-Lakewood,

  Colo.

$165,000

-2.90%

$625,000

-8.00%

2.00%

Seattle-Tacoma-Bellevue,

  Wash.

$193,000

-0.60%

$775,000

-6.10%

-0.70%

New

  York-Newark-Jersey City, N.Y.-N.J.-Pa.

$218,000

15.50%

$769,000

9.90%

11.30%

Boston-Cambridge-Newton,

  Mass.-N.H.

$226,000

9.50%

$870,000

3.70%

8.30%

San

  Francisco-Oakland-Berkeley, Calif.

$256,000

-5.50%

$1,027,000

-10.70%

-2.80%

San

  Diego-Chula Vista-Carlsbad, Calif.

$259,000

11.20%

$1,050,000

5.00%

7.40%

Los

  Angeles-Long Beach-Anaheim, Calif.

$298,000

14.70%

$1,192,000

8.40%

5.60%

San

  Jose-Sunnyvale-Santa Clara, Calif.

$361,000

1.10%

$1,467,000

-4.50%

-0.90%

* The required income to purchase a home, assuming an affordability price-to-income ratio of 30%, a 20% down payment, 30-year term, 30-year fixed mortgage rate, and local tax and insurance rates. 

April 2024 Housing Overview of the 50 Largest Metros 

Metro Area

Active Listing Count YoY

New Listing Count YoY

Median Days on Market

Median Days on Market Y-Y (Days)

Price– Reduced Share

Price-Reduced Share Y-Y (Percentage Points)

Atlanta-Sandy Springs-Alpharetta, Ga.

42.7%

27.4%

39

-4

17.7%

6.1 pp

Austin-Round Rock-Georgetown, Texas

23.6%

36.1%

42

-3

24.7%

-2.5 pp

Baltimore-Columbia-Towson, Md.

15.3%

3.8%

36

-1

12.0%

2.6 pp

Birmingham-Hoover, Ala.

36.5%

23.6%

46

1

14.9%

2.6 pp

Boston-Cambridge-Newton, Mass.-N.H.

7.5%

4.5%

24

-1

10.4%

1.2 pp

Buffalo-Cheektowaga, N.Y.

5.1%

3.4%

34

-6

5.3%

-0.3 pp

Charlotte-Concord-Gastonia, N.C.-S.C.

31.9%

20.3%

37

-2

16.9%

5.7 pp

Chicago-Naperville-Elgin, Ill.-Ind.-Wis.

0.1%

7.4%

34

-4

8.5%

0.2 pp

Cincinnati, Ohio-Ky.-Ind.

23.2%

9.4%

32

1

10.7%

3.3 pp

Cleveland-Elyria, Ohio

-2.4%

3.4%

39

-3

11.1%

1.7 pp

Columbus, Ohio

23.1%

5.1%

25

2

15.2%

4.5 pp

Dallas-Fort Worth-Arlington, Texas

48.0%

20.7%

40

1

21.7%

5.2 pp

Denver-Aurora-Lakewood, Colo.

57.6%

20.1%

32

8

21.1%

7.2 pp

Detroit-Warren-Dearborn, Mich.

4.4%

-3.8%

39

2

9.9%

-1.7 pp

Hartford-East Hartford-Middletown, Conn.

2.2%

-1.6%

30

9

5.6%

1.2 pp

Houston-The Woodlands-Sugar Land, Texas

32.1%

17.5%

43

0

18.1%

4.4 pp

Indianapolis-Carmel-Anderson, Ind.

33.4%

1.5%

39

1

18.2%

6.2 pp

Jacksonville, Fla.

59.1%

22.5%

51

-1

24.9%

7.3 pp

Kansas City, Mo.-Kan.

17.3%

13.9%

47

-15

12.1%

3.1 pp

Las Vegas-Henderson-Paradise, Nev.

-18.3%

5.9%

39

-11

13.9%

-4.2 pp

Los Angeles-Long Beach-Anaheim, Calif.

19.7%

18.0%

39

-6

8.8%

0.6 pp

Louisville/Jefferson County, Ky.-Ind.

24.9%

2.3%

38

2

14.1%

2.4 pp

Memphis, Tenn.-Miss.-Ark.

39.2%

16.9%

48

1

20.2%

5.7 pp

Miami-Fort Lauderdale-Pompano Beach, Fla.

58.3%

24.4%

64

1

19.0%

6.3 pp

Milwaukee-Waukesha, Wis.

12.2%

11.2%

31

1

6.9%

0.6 pp

Minneapolis-St. Paul-Bloomington, Minn.-Wis.

24.5%

8.0%

35

-2

10.6%

3.0 pp

Nashville-Davidson-Murfreesboro-Franklin, Tenn.

17.1%

14.7%

31

-2

19.3%

0.8 pp

New Orleans-Metairie, La.

29.6%

10.9%

60

4

19.3%

-0.3 pp

New York-Newark-Jersey City, N.Y.-N.J.-Pa.

-1.2%

2.4%

45

-5

7.1%

-0.4 pp

Oklahoma City, Okla.

34.1%

24.2%

41

-5

18.0%

3.0 pp

Orlando-Kissimmee-Sanford, Fla.

64.2%

26.6%

54

3

20.6%

6.3 pp

Philadelphia-Camden-Wilmington, Pa.-N.J.-Del.-Md.

3.3%

6.0%

40

-5

11.3%

0.3 pp

Phoenix-Mesa-Chandler, Ariz.

47.4%

11.7%

55

5

23.7%

1.6 pp

Pittsburgh, Pa.

6.7%

1.2%

51

5

13.4%

1.1 pp

Portland-Vancouver-Hillsboro, Ore.-Wash.

37.5%

22.1%

39

2

20.8%

9.7 pp

Providence-Warwick, R.I.-Mass.

-0.8%

5.5%

29

-6

6.7%

1.3 pp

Raleigh-Cary, N.C.

20.5%

28.0%

38

-10

13.4%

3.5 pp

Richmond, Va.

18.9%

8.5%

41

3

8.5%

2.4 pp

Riverside-San Bernardino-Ontario, Calif.

25.8%

18.9%

45

-6

14.1%

2.9 pp

Rochester, N.Y.

-1.2%

3.6%

16

0

5.9%

0.7 pp

Sacramento-Roseville-Folsom, Calif.

42.2%

22.5%

32

-3

14.6%

5.7 pp

San Antonio-New Braunfels, Texas

44.3%

20.2%

54

1

23.3%

5.2 pp

San Diego-Chula Vista-Carlsbad, Calif.

50.7%

29.0%

33

0

11.9%

4.6 pp

San Francisco-Oakland-Berkeley, Calif.

30.3%

23.0%

28

-4

9.4%

1.0 pp

San Jose-Sunnyvale-Santa Clara, Calif.

25.5%

40.6%

21

-6

7.7%

0.7 pp

Seattle-Tacoma-Bellevue, Wash.

37.4%

46.5%

29

-3

8.8%

0.3 pp

St. Louis, Mo.-Ill.

16.6%

14.4%

35

-5

12.0%

2.9 pp

Tampa-St. Petersburg-Clearwater, Fla.

69.5%

26.5%

52

3

27.5%

8.8 pp

Virginia Beach-Norfolk-Newport News, Va.-N.C.

16.8%

5.8%

32

2

13.9%

4.6 pp

Washington-Arlington-Alexandria, DC-Va.-Md.-W. Va.

10.9%

11.2%

30

-3

10.3%

2.9 pp

Methodology

Realtor.com housing data as of April 2024. Listings include the active inventory of existing single-family homes and condos/townhomes/row homes/co-ops for the given level of geography on Realtor.com; new construction is excluded unless listed via an MLS that provides listing data to Realtor.com. Realtor.com data history goes back to July 2016. The 50 largest U.S. metropolitan areas as defined by the Office of Management and Budget (OMB-202003). 

Posted On Friday, 03 May 2024 08:07 Written by
Page 18 of 1822

Agent Resource

Before You List

Realty Times

From buying and selling advice for consumers to money-making tips for Agents, our content, updated daily, has made Realty Times® a must-read, and see, for anyone involved in Real Estate.