机构研究报告-Housing market in the United States-外文版培训课件

INDUSTRIES

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MARKETSHousingmarketintheUnitedStatesCHAPTER

01ResidentialhousingmarketNumberofhousingunitsandannualpercentageincreaseintheUnitedStatesfrom1975to2023(inmillions)NumberofU.S.housingunitsandannualincrease1975-2023NumberofhousingunitsY-o-ypercentagechange1601.8%1.6%1.4%1.2%1%140120100800.8%0.6%0.4%0.2%0%6040200197519801985199019952000200120022003200420052006200720082009201020112012201320142015201620172018201920202021202220234Description:ThenumberofhousingunitsintheUnitedStateshasgrownyear-on-yearandin2023,therewereapproximately145millionhomes.Thatwasanincreaseofabout1.3percentfromthepreviousyear-thehighestannualincreaserecordedinthepast15years.ReadmoreNote(s):UnitedStates;1975to2023Source(s):USCensusBureauNumberofnewlybuiltandexistinghomesforsaleintheUnitedStatesfromJanuary2013toJune2024(in1,000s)NumberofnewlybuiltandexistinghomesforsaleintheU.S.2013-2024ExistingNewlybuilt2,5002,0001,5001,00050005Description:ThenumberofexistinghomesforsaleintheUnitedStatesdecreasedoverallsince2013,whilethenumberofnewlybuilthomesforsalefollowedtheoppositetrend.AsofJune2024,therewereover1.3millionexistingand476,000newlybuilthousingunitsforsale.Unlikenewhomes,theexistinghousinginventorytypicallyincreasedinthesecondandthirdquartersoftheyearwhenthehousingmarketismoreactive.ReadmoreNote(s):UnitedStates;Januray2013toJune2024Source(s):NationalAssociationofRealtors;USCensusBureau;USDepartmentofHousingandUrbanDevelopmentNumberofnewhomessoldintheUnitedStatesfrom1995to2023(inthousands)NumberofnewhomessoldintheU.S.1995-20231,4001,2001,00080060040020001995

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20236Description:ThenumberofnewhousessoldintheUnitedStatestookabighitduringthefinancialcrisis,droppingfromahighofaround1.3millionhousessoldin2005toalowof306thousandhomessoldin2011–arounda76percentdecrease.Whiletheeconomyhaslargelyrecoveredsincethecrisis,consumersremainedhesitantwhenitcomestobuyinghomes.In2020,demandforhousingsurgedandhousesalesvolumesspikedto822,000.

ReadmoreNote(s):UnitedStates;1995,2000to2023Source(s):USCensusBureauNumberofexistinghomessoldintheUnitedStatesfrom2005to2023,withaforecastuntil2026(inmillionunits)NumberofexistinghomessoldintheU.S.1995-2023,withaforecastuntil20268765432102005

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20267Description:ThenumberofU.S.homesalesintheUnitedStatesdeclinedin2023,aftersoaringin2021.ꢀAtotaloffourmilliontransactionsofexistinghomes,includingsingle-family,condo,andco-ops,werecompletedin2023,downfrom6.12millionin2021.Accordingtotheforecast,thehousingmarketisforecasttoheadforrecoveryin2025,despitetransactionvolumesareexpectedtoremainbelowthelong-termaverage.

ReadmoreNote(s):UnitedStates;2005to2023;Single-familyhomesandcondo/coops.;*ForecastReadmoreSource(s):NationalAssociationofRealtorsHomeownershiprateintheUnitedStatesfrom1990tothethirdquarterof2024HomeownershiprateintheU.S.1990-Q3202470.0%69.0%68.0%67.0%66.0%65.0%64.0%63.0%1990

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Q320248Description:ThehomeownershiprateintheUnitedStatesroseslightlyin2022,reachingthehighestfiguresince2011.However,inthethirdquarterof2024,theproportionofhouseholdsoccupiedbyownersdeclinedto65.6percent.TheU.S.homeownershipratewasthehighestin2004beforethe2007-2009recessionhitanddecimatedthehousingmarket.ꢀHomeownershipsincetherecessionTherateofhomeownershipintheU.S.fellintheleaduptotherecessionandcontinuedtodosountil2016.[...]

ReadmoreNote(s):UnitedStates;1990toQ32024;endof4thquartereachyearSource(s):USCensusBureauHomeownershiprateintheUnitedStatesin2023,byageHomeownershiprateintheU.S.2023,byage90%80%70%60%50%40%30%20%10%0%Lessthan

25to2925years

years30to34years35to39years40to44years45to49years50to54years55to59years60to64years65to69years70to74years75yearsandoverAllages9Description:ThehomeownershipratewasthehighestamongAmericansintheirearly70sandthelowestamongpeopleintheirearly20sin2023.Inthatyear,approximately81percentofindividualsaged70to75residedinaresidencetheyowned,comparedtoapproximately23.6percentamongindividualsundertheageof25.Onaverage,65.9percentofAmericanslivedinanowner-occupiedhome.Thehomeownershipratewasthehighestin2004buthassincedeclined.

ReadmoreNote(s):UnitedStates;2023Source(s):USCensusBureauHomeownervacancyratesintheUnitedStatesfrom1990to2024HomeownervacancyratesintheU.S.1990-20243.0%2.5%2.0%1.5%1.0%0.5%0.0%1990

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2024*10Description:ThehomeownervacancyrateintheUnitedStatesreacheditslowestvaluein2022,followedbyanuptickin2023.Therateshowswhatshareofowner-occupiedhousingunitswerevacantandforsale.Thatfigurepeakedin2008,whennearlythreepercentofhomeswerevacant,andgraduallyfellbelowonepercentafterthe2020housingboom.Homeownershipisaformoflivingarrangementwheretheowneroftheinhabitedproperty,whetherapartment,house,ortypeofrealestate,lives[...]

ReadmoreNote(s):UnitedStates;1990to2024;asofQ4ofeachyear;*Q2ReadmoreSource(s):USDepartmentofHousingandUrbanDevelopmentRentalvacancyratesintheUnitedStatesfrom2000to2023,byregionRentalvacancyratesintheU.S.2000-2023,byregionNortheastMidwestSouthWest14.5%12.5%10.5%8.5%6.5%4.5%2.5%2000

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202311Description:RentalvacancyratesacrosstheUnitedStatesshowedsignificantregionaldifferencesin2023,withtheSouthexperiencingthehighestrateat8.7percent.Thisdisparityreflectsbroaderdemographicshiftsandeconomicfactorsinfluencingtherentalmarket.Theregionalvariationsinvacancyrateshavepersisteddespiteanoveralldeclinesince2014,highlightingthecomplexdynamicsoftheU.S.housinglandscape.ReadmoreNote(s):UnitedStates;2000to2023;Dataasof4thquartereachyearSource(s):USCensusBureauMostpopularrealestatewebsitesintheUnitedStatesin2023,basedonmonthlyvisits(inmillions)LeadingrealestatewebsitesintheU.S.2023,bymonthlyvisitsMonthlyaveragevisitsinmillions300102040506057.370ZillowRTrulia30.19.8Redfin8.3Homes4.24.1RemaxMovoto2.71.4CPoint2HCentury211.31.212Description:Throughout2023,ZillowwasthemostpopularrealestatewebsiteintheUnitedStates.Monthly,Zillowreceivedabout57millionvisits,whichwassubstantiallyhigherthananyotherwebsiteintheranking.Therunner-upRreceivedabout30millionmonthlyvisitsandTrulia,whichcamethirdintheranking,receivedcloseto10millionvisits.ReadmoreNote(s):UnitedStates;2023;monthlyaveragevisitsfromwebanddesktopSource(s):Ahrefs;Website()CHAPTER

02HomebuildingResidentialrealestateconstructionsupplyintheUnitedStatesfromJanuary2000toDecember2024,bystage(inmillionunits)ResidentialconstructionsupplyintheU.S.2000-2024,bystageBuildingpermitsStartedUnderconstructionCompleted2.52.01.51.00.50.014Description:HousingconstructionintheUnitedStatesplummetedbetween2006and2010,followedbyagradualincreaseuntil2021.Inearly2022,thenumberofnewbuildingpermitsandconstructionstartsrosetooneofthehighestlevelssince2006.Astheeconomicenvironmentworsenedandconstructionmaterialpricessoared,however,permitsissuanceandbuildingstartsslowed.AsofDecember2024,the12-monthrollingnumberofnewprivatelyownedhousingunitscompletedamountedto[...]

ReadmoreNote(s):UnitedStates;January2000toDecember2024Source(s):St.LouisFed;Statista;USDepartmentofHousingandUrbanDevelopmentValueofnewprivateresidentialconstructionputinplaceintheUnitedStatesfrom1964to2023(inbillionU.S.dollars)ValueofnewprivateresidentialconstructionintheU.S.1964-20231,000900800700600500400300200100019641966196819701972197419761978198019821984198619881990199219941996199820002002200420062008201020122014201620182020202215Description:NewhomeconstructionoutputintheU.S.privatesectorfellꢀin2023.Meanwhile,2022wasthethirdyearofstronggrowthinarow,withprivateresidentialconstructionreachingavalueof918billionU.S.dollars.Thosetrendsarealsoreflectedintheꢀnumberofhousingunitsauthorizedbybuildingpermits,whichshowsthenumberofprojectsthatwereapprovedandreadytostart.ReadmoreNote(s):UnitedStates;1964to2023;Seasonallyadjusted.Source(s):USCensusBureauAverageconstructioncostsforsingle-familyhomesintheUnitedStatesfrom1998to2022(inU.S.dollars)Averageconstructioncostsforsingle-familyhomesintheU.S.1998-2022450400350300250392.2296.8289.4246.5237.8222.5219192.8184.120015010050151.72002124.31998020042007200920112013201520172019202216Description:Theaverageconstructioncostofasingle-familyhomeintheUnitedStateswasabout392,000U.S.dollarsin2022,nearly100,000U.S.dollarsmoreexpensivethanin2019.Thesourcealsoaddsthatinteriorfinishes–whichincludesinsulation,flooring,andappliances–accountedforthelargestshareofcostsat24percent.ReadmoreNote(s):UnitedStates;1998to2022;3,891homebuilders;Thecostcorrespondstotheconstructionoftheaveragesingle-familyhomementionedbytherespondentsinthesurvey.Source(s):NationalAssociationofHomeBuildersAverageconstructioncostsofsingle-familyandmultifamilyresidentialbuildingsintheUnitedStatesinthe4thquarter2024,bycity(inU.S.dollarspersquarefoot)ResidentialconstructioncostsintheU.S.Q42024,bycityLow-end

single-familyHigh-end

single-familyLow-end

multi-familyHigh-end

multi-familyNewYorkHonoluluChicago345315280330195235230295295225255265690590560550525470465440410400390390240280205400185200200275275255275210470480470625280475355385375420465355SanFranciscoPhoenixLasVegasDenverPortlandBostonLosAngelesSeattleWashington17Description:Inthelastquarterof2024,SanFrancisco,NewYork,andHonoluluweresomeoftheU.S.citieswiththehighesthousingconstructioncosts.Meanwhile,Phoenixhadoneofthelowestconstructioncostsforhigh-endmultifamilyhomesat280U.S.dollarspersquarefootandLasVegasforsingle-familyhomesbetween235and470U.S.dollarspersquarefoot.ReadmoreNote(s):UnitedStates;4thquarter2024Source(s):RiderLevettBucknallAnnualpricegrowthrateofhousingunderconstructionintheUnitedStatesfrom2006to2023,bytypePricegrowthrateofresidentialconstructionintheU.S.2006-2023,bytypeSingle‐family

housesMultifamily

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units20062007200820092010201120122013201420152016201720186.2%0.9%‐2.9%‐4.4%‐1.5%0.7%1%10.2%3.66%3.79%1.9%1.5%-0.86%-1.13%4.64%3.11%11.14%5.34%6.76%6.97%5.5%6.7%2.5%4.4%4.3%4.3%18Description:ThepriceofmultifamilyunitsunderconstructionintheUnitedStatesincreasedsignificantlymorethanthatofsingle-familyhomesin2023.Whilethepriceofsingle-familyhouseswasnearlythreepercenthigherthaninthepreviousyear,thosefiguresamountedtofivepercentformultifamilyresidentialunits.TheoverallꢀcostofconstructionmaterialsintheU.S.increasednoticeablyin2021and2022.ReadmoreNote(s):UnitedStates;2006to2023Source(s):Statista;USCensusBureauPercentagechangeonpreviousyearoftheProducerPriceIndex(PPI)of32processedgoodsimportanttoconstructionintheUnitedStatesfromMarch2014toNovember2024Pricechangeonannualbasisof32differentbuildingmaterialsintheU.S.2014-2024Dec

2024-13.9%2.3%Nov

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2024-36.1%2.6%July

20246.7%June

20-10.No.2dieselfuel(WPU057303)Pavingmixturesandblocks(asphalt)(WPU1394)4.4%3.Asphaltfeltsandcoatings(WPU136)Cement(WPU1322)1%4.5%3.3%8.2%5.1%2.2%-2.3%1.4%4.5%4.8%7.3%4%2.4%4.7%5.2%8.2%3.7%2.1%1.9%0.7%5.3%6.8%4.4%4.5%2.3%2%0.7%1.2%6.9%5.3%5%1.6.6.4.6.2.2.Concreteblockandbrick(WPU1331)Concretepipe(WPU1332)Ready-mixedconcrete(WPU1333)Precastconcreteproducts(WPU1334)2.5%-1.8%2.5%2.9%Prestressedconcreteproducts(WPU1335)Brickandstructuralclaytile(WPU134)4.6%4.6%4.6%4.8%4.8%0%4.0.Plasticconstructionproducts(WPU0721)-0.6%-0.9%-0.7%-0.3%19Description:BuildingmaterialsmadeofcopperhadsomeofthehighestpricegrowthratesintheU.S.inDecember2024incomparisontothepreviousyear.Thegrowthrateofthecostofmanyconstructionmaterialswasmuchlowerthanin2023.Itisimportanttonote,though,thatthefiguresprovidedareProducerPriceIndices,whichcoverproductionwithintheUnitedStates,butdonotincludeimportsortariffs.Thismightmatterforlumber,asꢀCanada'swoodproductionisnormallylargeenoughthat[...]

ReadmoreNote(s):UnitedStates;March2014toDecember2024;ThenumbersinbracketsrefertotheBLSSeriesID,acodingsystemintheUnitedStatesforcommodities.Source(s):AGC;BureauofLaborStatisticsLeadinghomebuildersintheUnitedStatesin2023,bygrossrevenue(inbillionU.S.dollars)LeadinghomebuildersintheU.S.2023,byrevenueRevenueinbillionU.S.dollars15051020253035LennarCorp.D.R.Horton32.4632.3PulteGroup15.6TollBrothers9.879.31NVRTaylorMorrisonKBHomeMeritageHomesM.D.C.HoldingsClaytonPropertiesGroupM/IHomes7.26.386.064.523.993.913.65TriPointeHomesCenturyCommunitiesAshtonWoodsHomesDreamFindersHomes3.63.63.4920Description:LennarCorp.wasthehomebuilderwiththehighestgrossrevenueintheUnitedStatesin2023.TheFlorida-basedcompanyreachedahomebuildingrevenueof32.5billionU.S.dollars.ItwascloselyfollowedbyD.R.Horton,whichhaditsheadquartersinArlington(Texas)andgeneratedarevenueofover32billionU.S.dollars.ꢀChallengestotheresidentialconstructionmarketThenumberofprivatehousingunitsstartedfellaroundthetimeoftheglobalfinancialcrisis(2007-2009),[...]

ReadmoreNote(s):UnitedStates;2023;Itonlyincludeshomebuildingrevenue.Source(s):BuilderOnlineCHAPTER

03HomefinancingS&P/CaseShillerU.S.NationalHomePriceIndexfromJanuary2015toJuly2024CaseShillerNationalHomePriceIndexintheU.S.2015-2024,bymonth35033031029027025023021019017015022Description:TheAmericanhousingmarketcontinuestoshowremarkableresilience,withtheS&P/CaseShillerU.S.NationalHomePriceIndexreachinganall-timehighof325.78inJuly2024.Thisfigurerepresentsasignificantincreasefromtheindexvalueof166.24recordedinJanuary2015,highlightingthesubstantialgrowthinhomepricesoverthepastdecade.TheS&PCaseShillerNationalHomePriceIndexisbasedonthepricesofsingle-familyhomesandistheleadingindicatorofthe[...]

ReadmoreNote(s):UnitedStates;January2015

toJuly2024Source(s):St.LouisFed;Standard&Poor’sFreddieMacHousePriceIndexpriceappreciationfrom1990to2023FMHPIhousepriceindexchange1990-202320%15%10%5%0%-5%-10%-15%23Description:TheU.S.housingmarkethasslowed,after12consecutiveyearsofrisinghomeprices.In2021,housepricessurgedbyanunprecedented18percent,markingthehighestincreaseonrecord.However,themarkethassincecooled,withtheFreddieMacHousePriceIndexshowingmoremodestgrowthof4.8percentin2022and6.5percentin2023.Thatwasfasterthanthelong-termaverageof4.4percentsince1990.

ReadmoreNote(s):UnitedStates;1990to2023;asofDecemberofeachyear;seasonallyadjustedSource(s):FreddieMacPercentagechangefrompreviousyearofsingle-familyhousingpricesinthedifferentstatesoftheUnitedStatesasof3rdquarter2024AnnualhomepriceappreciationintheU.S.2024,bystateYear-on-yearpercentagechange,seasonallyadjusted0%2%4%6%8%10%12%HawaiiDelawareRhodeIslandConnecticutNewJerseyNewHampshireIllinois10.44%8.45%8.37%8.15%8.14%7.17%7.15%NewYorkMichiganWisconsinOhio7.04%6.89%6.66%6.62%6.53%AlaskaIndiana6.37%24Description:Housepricesgrewyear-on-yearinmoststatesintheU.S.inthethirdquarterof2024.TheDistrictofColumbiawastheonlyexception,withadeclineofthreepercent.Theannualappreciationforsingle-familyhousingintheU.S.was0.71percent,whileinHawaii—thestatewherehomesappreciatedthemost—theincreaseexceeded10percent.ReadmoreNote(s):UnitedStates;Q32024;HPIfiguresareseasonallyadjusted,andconcernpurchasesonlySource(s):FederalHousingFinanceAgencyMedianpriceofexistinghomesintheUnitedStatesfrom3rdquarter2017to3rdquarter2024withforecastuntil2026(in1,000U.S.dollars)MediansalepriceofexistinghomessoldintheU.S.2017-2024withforecastfor202650045040035030025020015010050025Description:TheU.S.housingmarketcontinuestoevolve,withthemedianhomepriceforecasttoreach426,000U.S.dollarsbythesecondquarterof2026.Thisprojectioncomesafteraperiodofsignificantgrowthandrecentfluctuations,reflectingthecomplexinterplayofeconomicfactorsaffectingtherealestatesector.Therisingcostshavenotonlyimpactedhomeprices,butalsodownpayments,withthemediandownpaymentmorethandoublingsince2012.

ReadmoreNote(s):UnitedStates;Q32017toQ32024Source(s):NationalAssociationofRealtorsMediansalespriceofnewhomessoldintheUnitedStatesfrom1965to2023(in1,000U.S.dollars)MediansalespriceofnewhomessoldintheU.S.1965-20235004504003503002502001501005001965

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202326Description:ThemediansalespriceofnewhomessoldintheUnitedStatesincreasedsteadilyfrom1965to2023.In2023,anewlybuilthomecostapproximately427,400U.S.dollars.Thatwasadeclineofnearly30,000U.S.dollarsandthefirstdecreasesince2018.Pricesvariedgreatlyacrossdifferentregionsinthecountry,withthemostexpensivehousingfoundintheNortheastregion.ReadmoreNote(s):UnitedStates;1965to2023;Thesalespriceincludestheland.Source(s):USCensusBureauMediansalespriceofexistingsingle-familyhomesintheUnitedStatesfrom2021to2023,bymetropolitanarea(in1,000U.S.dollars)Mediansalespriceofexistingsingle-familyhomesintheU.S.2021-2023,bymetro2021164013201099996.2762.183020221797.8135012351126.7889.3911202317651272.512601055.9888.6931.2903.3933.4833.4790SanJose-Sunnyvale-SantaClara,CASanFrancisco-Oakland-Hayward,CAAnaheim-SantaAna-Irvine,CAUrbanHonolulu,HISanLuisObispo-PasoRobles,CASanDiego-Carlsbad,CAOxnard-ThousandOaks-Ventura,CASalinas,CA980.2886.6801.3645896.9899.2849.4782LosAngeles-LongBeach-Glendale,CANaples-Immokalee-MarcoIsland,FLBoulder,CO782.7698.6617.8857.8756.2683857.2735Seattle-Tacoma-Bellevue,WABarnstableTown,MA715.427Description:Themediansalespriceoftheexistingprivatelyownedsingle-familyhomesintheUnitedStatesincreasedslightlyin2023.ThemostexpensivehomeswerefoundinSanJose-Sunnyvale-SantaClara,CAwherethemediansalespricewas1.8millionU.S.dollars.RhodeIslandandVermontexperiencedthestrongesthomeappreciation.ReadmoreNote(s):UnitedStates;2021to2023Source(s):NationalAssociationofRealtorsMortgageinterestrateintheUnitedStatesfrom1stquarter2019to1stquarter2024,bymortgagetypeQuarterlymortgageinterestrateintheU.S.2019-2024,bymortgagetype30-yearfixedrate15-yearfixedrate5-yearARM8.5%7.5%6.5%5.5%4.5%3.5%2.5%1.5%Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q12019

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202428Description:IntheUnitedStates,interestratesforallmortgagetypesstartedtoincreasein2021.ThiswasduetotheFederalReserveintroducingaseriesofhikesinthefederalfundsratetocontaintherisinginflation.Inthefirstquarterof2024,the30-yearfixedratedeclinedslightly,to6.75percent.Despitethecut,thiswasabout3.9percentagepointshigherthanthesamequarterin2021.ReadmoreNote(s):UnitedStates;Q12019toQ12024Source(s):USDepartmentofHousingandUrbanDevelopmentMedianmortgagedownpaymentforhomepurchaseintheUnitedStatesfrom2012to2023(inU.S.dollars)MortgagedownpaymentforhomepurchaseintheU.S.2012-202330,00025,00025,52624,94724,42120,52620,00015,73714,63214,44414,13614,26315,00010,0005,000013,52613,34812,55620122013201420152016201720182019202020212022202329Description:Since2012,themediandownpaymentforahomepurchaseintheUnitedStateshasmorethandoubled.InDecember2023,homebuyerswhotookoutamortgagetofinancetheirpurchasehadtosaveupapproximately25,526U.S.dollarsforadownpayment.Thisroughly10,000U.S.dollarsabovethemediandownpaymentjustfouryearsagoin2019.Thiswasaresultoftheꢀrapidhousepricegrowthobservedinrecentyears.

ReadmoreNote(s):UnitedStates;2012to2023;asofDecemberofeachyear.Source(s):AmericanEnterpriseInstituteMediandownpaymentintheUnitedStatesin2024,bystate(inU.S.dollars)MediandownpaymentofintheU.S.in2024,bystateDownpaymentinU.S.dollars40,000

60,000020,00080,000100,000120,000CaliforniaMassachusettsHawaii100,00078,44074,000NewJerseySouthDakotaIdaho66,82562,77561,50060,000WashingtonNorthCarolinaNewHampshireColorado59,37758,40058,000MaineKansasOregon52,35050,50050,00030Description:Homebuyersinthetop10U.S.stateswiththehighestmediandownpaymentforahomepurchasehadtopaymorethandoublethemedianforthecountryinthefirstquarterof2024.California,Massachusetts,andHawaiiwerethestateswiththehighestdownpaymentsintheUnitedStates,withmediandepositsforahomepurchaseexceeding74,000U.S.dollars.Nationwide,themediandownpaymentwasapproximately26,700U.S.dollars.Therapidhousepriceincreasesincethe[...]

ReadmoreNote(s):UnitedStates;Q12024Source(s):ATTOMDataSolutions;BankrateMortgagedelinquencyratesintheUnitedStatesfrom2000to1stquarter2024MortgagedelinquencyrateintheU.S.2000-2024,byquarter10%9%8%7%6%5%4%3%2%1%0%31Description:FollowingthedrasticincreasedirectlyaftertheCOVID-19pandemic,thedelinquencyratestartedtograduallydecline,fallingto3.37percentinthesecondquarterof2023.Inthefourquarters,thedelinquencyrateincreasedslightly,reaching3.97percent.Thatwassignificantlylowerthantheꢀ8.22percentduringtheonsetoftheCOVID-19pandemicinthesecondquarterof2020orthepeakof9.3percentduringthesubprimemortgagecrisisof2007-2010.ꢀWhatdoesthemortgage[...]

ReadmoreNote(s):UnitedStates;2000toQ22024Source(s):MortgageBankersAssociationForeclosurerateintheUnitedStatesfrom2005to2024ForeclosurerateU.S.2005-20242.5%2.0%1.5%1.0%0.5%0.0%2005

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202432Description:TheforeclosurerateintheUnitedStateshasexperiencedsignificantfluctuationsoverthepasttwodecades,reachingitspeakin2010at2.23percentfollowingthefinancialcrisis.Sincethen,theratehassteadilydeclined,withanotabledropto0.11percentin2021duetogovernmentinterventionsduringtheCOVID-19pandemic.In2024,theratestoodslightlyhigherat0.23percentbutremainedwellbelowhistoricalaverages,indicatingarelativelystablehousingmarket.

ReadmoreNote(s):2005to2024Source(s):ATTOMDataSolutionsCHAPTER

04AffordabilityHousingaffordabilityindex(fixed)intheUnitedStatesfrom2000to2023HousingaffordabilityindexintheU.S.2000-20232502001501005002000

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202334Description:TheHousingAffordabilityIndexvalueintheUnitedStatesplummetedin2022,surpassingthehistoricalrecordof107.1indexpointsin2006.In2023,thehousingaffordabilityindexmeasured98.1indexpoints,makingittheworstyearforhomebuyerssincethestartoftheobservationperiod.ReadmoreNote(s):UnitedStates;2000to2023Source(s):NationalAssociationofRealtors;USDepartmentofHousingandUrbanDevelopmentMainreasonsforbuyingahomeintheUnitedStatesin2023MainreasonsforbuyingahomeU.S.2023Shareofrespondents0%5%10%15%20%25%30%DesiretoownahomeofmyownDesiretobeclosertofamily/friends/relativesDesireforlargerhome26%12%11%Changeinfamilysituation(e.g.marriage,birthofchild,divorce,etc.)Desireforsmallerhome8%6%6%Job-relatedrelocationormoveRetirement5%Desiretobeclosertojob/school/transitAffordabilityofhomes3%2%2%2%2%EstablishahouseholdFinancial