The National Association of Realtors' newly released 2024 Profile of Home Buyers and Sellers report reveals a historic low in first-time U.S. homebuyer market share, which dropped to 24% from 32% last year.
According to the Mortgage Bankers Association's latest Weekly Applications Survey for the week ending October 25, 2024, U.S. mortgage applications decreased 0.1 percent from one week earlier.
According to national property broker Redfin, a U.S. homebuyer on a $3,000 monthly budget has lost $33,250 in purchasing power over the last six weeks, with the daily average 30-year fixed mortgage rate rising to 7% on October 28, 2024.
As Americans now head to polling stations across the country, political divisions appear more entrenched than ever.