Housing affordability

The coronavirus pandemic has made for a rough year for a number of industries in Central Texas, but the home construction sector hasn't been one of them.

With a dearth of inventory, September generated the largest price growth in the housing market since May 2014, according to CoreLogic.

Low mortgage rates and strained supply drove the housing market price growth to a 26-month high in August, according to CoreLogic.

Consumer home purchasing power gained steam in July thanks to plummeting interest rates and gains in the median income despite steady price growth, according to First American.

More counties have median home prices above their historic averages for typical wage earners, the company found.

Outside the densely populated coastal hubs, annual home sales grew by leaps and bounds, as buying patterns shifted toward more space with less emphasis on proximity to urban centers, according to Redfin.

Median closing prices hit a new record high during the four-week period ended Sept. 6, Redfin said.

For both homeowners and renters, Philadelphia is a relatively affordable city with low housing costs when compared with other big cities, but Philadelphia's high poverty rate makes the city more expensive for its residents, especially renters.

Albuquerque, N.M., area home prices continued to rise in August, driven in part by a spike in demand for luxury homes.

More than half of listings underwent bidding wars in August with some housing markets peaking above 65%, according to Redfin.