The website, which notes that housing costs take up about one third of average spending for households, configured data by assessing the median home value and mortgage payment to show the minimum level of income necessary.

“In the final months of 2020, single-family rents posted the highest increases in over four years,” said Molly Boesel, principal economist at CoreLogic. “However, single-family rent price reaction to the pandemic and resulting recession differed greatly across metros.”

Zillow’s national figures showed high demand for housing in urban areas helping values in cities keep pace with those in the suburbs.

The report added that vacation homes and affordable homes in small towns near major urban centers were in strong demand as a result of the pandemic.

“The consistent decline in serious delinquency since August is a sign of growing financial stability for families,” said Frank Martell, president and CEO of CoreLogic.

The trend of purchasing a second home has sent home prices in seasonal towns skyrocketing in value by 19% for the year ending December 2020.

Welcome to our Top Producers/Real Data issue, which highlights those who made waves in the 2020 Chicagoland market.

The COVID-19 pandemic is accelerating migration across the country, following moving patterns that began in prior years, according to a new report.

CoreLogic is predicting that, nationally, home prices will increase by another 2.9% by December 2021 as homeowners delay selling, inventory remains tight and interest rates stay low.

Fence-sitters thinking of buying a home beware, says a new study from Zillow, which notes that waiting could mean a much higher mortgage payment down the road.

“Context matters and each rising-rate era is different, says First American Chief Economist Mark Fleming. “The housing market response depends on the reason why rates are rising.”

Nationally, contract signings rose 21.4% from December 2019, with all regions reaching double-digit year-over-year increases.

Based on U.S. median one-bedroom rent, it would take 11 months to save for a 5% down payment for the median priced home in the U.S.

A new report ranks the glamour capitals of America — as well as the glamour deserts.

“Homeowners will see the value of their homes rise, but first-time homebuyers will face tougher competition from out-of-towners with big budgets.” — Daryl Fairweather, Redfin chief economist

Amid demand, housing inventory sank to historic lows.