Purchasing power

Contract signings to purchase previously owned U.S. homes increased in May, indicating Americans may be responding to declining mortgage rates.

From Seattle to Pittsburgh, here's a look at the 12 best housing markets for homebuyer purchasing power, characterized by a favorable combination of local wages and lower property values and mortgage rates.

If current inventory shortages continue, rising costs will limit housing options for many American buyers and renters, according to a new Harvard Joint Center for Housing Studies report.

Home-price gains in 20 U.S. cities decelerated in April for a 13th straight month to the weakest pace since 2012, indicating further moderation in the housing market, particularly in once-hot West Coast areas.

People electing to remain in their primary residence for longer periods took more potential home sales out of the market than lower interest rates and higher income brought in, according to First American.

Mortgage rates fell to their lowest level since September 2017, with the 30-year down 17 basis points as worries over foreign trade policy continued to roil the markets, according to Freddie Mac.

From secondary markets along the East Coast to the heart of the Midwest, here's a look at cities where consumers are losing ground in purchasing power as summer approaches, based on changes in housing values compared to local wages and mortgage rates.

Millennials closed mortgage loans at their fastest pace in four years as lower interest rates pushed up purchasing power and incentivized them to pull the trigger, according to Ellie Mae.

Growing wages combined with flat mortgage rates handed homebuyers' increased affordability with a 2.4% boost in purchasing power for February, according to First American Financial Corp.

If favorable interest rates and rising consumer incomes continue, market potential for home purchases will be boosted in the short term, according to First American Financial.