May 2016 RSS Feed

Source: Candy's Dirt

Renting is often considered to be more affordable than homeownership, but the gap between affordable rentals and affordable homes for sale is widening. According to SmartAsset’s 2016 rental affordability survey, there’s a massive income gap for renters. This year’s survey shows that, in Dallas, renters need to make $62,700 to meet HUD guidelines for affordable rentals. That’s an increase of $5,829 from a year ago, and equates to about $1,463 a month on rent alone.

With more would-be Millennial homebuyers being forced to rent thanks to low inventory, skyrocketing market rents are adding insult to injury. Still, according to MetroStudy, builders are shifting into overdrive to bring new housing online in the Dallas-Fort Worth…

From the Washington Post

The overall U.S. housing market has recovered from the crisis that plunged the country into recession. But a new analysis by The Washington Post shows that the recovery has been deeply uneven, creating winners and losers along lines of race, income and geography.

The Post analysis, based on data from Black Knight Financial Services spanning 2004 through 2015, shows how the nation’s housing recovery has exacerbated inequality, leaving behind many Americans of moderate means. It also helps explain why the economic recovery feels incomplete, especially in neighborhoods where the value of housing — often the biggest family asset — has recovered little, if at all.

While a typical single-family home has gained less than 14…

by Texas Association of Realtors

A small number is making big news for Texas real estate. In the first quarter of 2016, the inventory of homes statewide hit an all-time low at 2.8 months. That means if no more houses were listed for sale in Texas, it would take less than three months to deplete the supply of homes on the market now. Why does this matter? Historically low inventory means homes are in demand now more than ever. For comparison, the Real Estate Center at Texas A&M University estimates that a monthly housing inventory between 6.0 and 6.5 months is balanced between supply and demand … and Texas was at less than half that number in the first quarter of 2016. For more first-quarter stats, including median home prices and days on…