Real Estate Market Statistics 2024

August 2024 brought 3.86 million in sales, a median sales price of $416,700, and 4.2 months of inventory.

Measures whether or not a typical family could qualify for a mortgage loan on a typical home. ∙ A typical home is defined as the national median-priced, existing single-family home as calculated by NAR. ∙ The typical family is defined as one earning the median family income as reported by the U.S. Bureau of the Census. ∙ The prevailing mortgage interest rate is the effective rate on loans closed on existing homes from the Federal Housing Finance Board.

Measures housing affordability at different income levels for all active inventory on the market. For each state: Curve - shows how many houses are affordable to households ranked by income Score - measure which is intended to represent affordability for all different income percentiles in a single measure.

The Housing Affordability Index measures whether or not a typical family earns enough income to qualify for a mortgage loan on a typical home at the national and regional levels based on the most recent price and income data.

Housing Affordability Index data are provided by NAR solely for use as a reference. No part of the data may be reproduced, stored in a retrieval system, transmitted or redistributed in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without NAR's prior written consent for those who are not members of NAR.

Note: Starting in May 2019, FHFA discontinued the release of several mortgage rates and only published an adjustable rate mortgage called PMMS+ based on Freddie Mac Primary Mortgage Market Survey. With these changes, NAR will no longer release the HAI Composite Index (based on 30-year fixed rate and ARM) and will only release the HAI based on a 30-year mortgage. NAR calculates the 30-year effective fixed rate based on Freddie Mac's 30-year fixed mortgage contract rate, 30-year fixed mortgage points and fees, and a median loan value based on the NAR median price and a 20 percent down payment.

Analyzing homebuyer profiles within metropolitan areas requires a thorough examination of specific and localized data, as the characteristics of homebuyers can vary significantly across different regions. Influential factors include local economic conditions, housing market trends, demographics, and lifestyle preferences.

Intended for individual metropolitan statistical areas in the U.S., covering demographics and home characteristics. The information provided helps to give insight into homeownership trends at the local level.

Monthly morthttps://www.nar.realtor/research-and-statistics/housing-statistics/county-median-home-pricesgage payments by county are based on the following mortgage rates: 3.0%, 3.5%, and 4.0%.

This measure computes how many new permits are issued for every new job for 178 metro areas.