As a U.S. housing market indicator, the national homeownership rate (which reflects every county’s average) is also useful. Listed here are the percentages of American households that own the space where they live and reside.
Housing supply indices provide information on the number of vacant homes. In addition, the historical indexes can also indicate how many new and old properties are available simultaneously, as well as indicative of future price changes.
The 30-year-fixed mortgage rate is another leading indicator of the U.S. housing market. A lower interest rate usually translates to less money that home buyers have to pay to finance their mortgage and buy a home 30-year-fixed mortgage rates tend to decrease when the economy is doing well and increase the demand for real estate.
Rental affordability and home affordability are related to the percentage of residents who qualify for a mortgage or a rental in a specific neighborhood. Surveyors compile this data by comparing the average price of homes or rental units to the median household income in that area.