Housing affordability

Rising inflation has been an issue across the country, but these are the cities with the greatest challenges.

May's falling interest rates as well as ongoing wage growth helped improve home affordability across borrowing segments and racial groups, the Mortgage Bankers Association said.

The pace of growth is more than double the recent historical average, adding further affordability hurdles for some homeowners.

Almost two-thirds of those aged 55 or over said they are sentimental about the house they have occupied long-term.

The income needed to afford a typical apartment is the highest since 2022.

Home inventory on the market increased in May, but stubbornly high mortgage rates and home prices are leading to slow sales in many areas, according to reports from Redfin and Zillow.

With home prices also climbing up faster than expected for the time of the year, median new loan payments headed higher by more than 2%, according to the Mortgage Bankers Association.

The April and May announcements from the U.S. government, down payment assistance firms and lenders on easing the homeownership affordability crunch.

The rates of single parent homeownership by gender differ by 14 percentage points, even though more single women own homes than men.

Almost half of parents said their grown children returned to live with them after graduation, placing greater challenges on their own long-term housing and retirement goals, according to a recent survey.