Homebuyers need to earn 80% more than they did pre-COVID to comfortably afford a house in the current market, Zillow found. Housing costs have soared, and wages haven't kept up, data in a new report showed. "The math has changed for hopeful buyers, who are more often partnering with friends and family or 'house hacking' their way to homeownership," a Zillow analyst wrote. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview ...

The income needed to comfortably afford a home is up 80% since 2020, while median income has risen 23% in that time Those shopping for homes today need to make more than $106,000 a year to comfortably afford a home. A mortgage payment on a typical U.S. home has nearly doubled since 2020. Pittsburgh, Memphis and Cleveland are the most affordable markets. Households in California need to make the most money to afford a home. SEATTLE, Feb. 29, 2024 /PRNewswire/ -- Home shoppers today need to make more than $10 ...

Study underscores that factors not related to income are keeping the Black-white homeownership gap wide Racial mortgage affordability gap shrunk by more than a third since 2012 Among all races, renting families able to afford a mortgage dropped by nearly half from 2021 to 2022 White households own homes at a 73% rate, while Black households own at 44%, with over half of the top 50 metros showing a gap of 30 points or more SEATTLE, Feb. 23, 2024 /PRNewswire/ -- The gap between the share of Black and white re ...

About this content About Leo Grieco Leo joins us with a degree in Media Production from Bournemouth University. His work includes reporting for the UK editorial team and video editing for the broadcast team. He comes with an expertise in video editing and producing. Leo’s specialities include hospitality and leisure, support services, tech and video games. Read more About the publisher Proactive financial news and online broadcast teams provide fast, accessible, informative and actionable business and fi ...

Shares of housing tech company Zillow Group (Z 7.76%) (ZG 7.63%) jumped as much as 13.5% in early trading on Wednesday after the company reported fourth-quarter 2023 financial results. Shares closed trading up 7.8% for the day.Zillow's steady progressThe headline numbers weren't all that impressive for Zillow. Revenue was up 9% to $474 million, beating the $451 million analysts expected, and net loss was $73 million. On an adjusted basis, which pulls out one-time expenses and stock-based compensation, earni ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _____________________________________________________ FORM 10-K _____________________________________________________ ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 001-36853 | --- | --- | |------------------------------------------------ ...

About this content About Leo Grieco Leo joins us with a degree in Media Production from Bournemouth University. His work includes reporting for the UK editorial team and video editing for the broadcast team. He comes with an expertise in video editing and producing. Leo’s specialities include hospitality and leisure, support services, tech and video games. Read more About the publisher Proactive financial news and online broadcast teams provide fast, accessible, informative and actionable business and fi ...

Expensive, coastal and Western markets are already heating up as spring season approaches Well-priced homes are selling in 29 days, and that will shorten quickly as the shopping season opens. Mispriced inventory is lingering, however; an elevated 1 in 5 sellers are cutting prices to find buyers. New listings and total inventory are up slightly over last year, an encouraging sign for buyers. SEATTLE, Feb. 14, 2024 /PRNewswire/ -- Both buyers and sellers should prepare for a competitive home shopping season t ...

Zillow is expanding its “housing super app” to more markets after seeing how well it has been received.The company is also continuing to add functionality to the app for both the real estate sales and rentals markets, Zillow said in a presentation released Tuesday (Feb. 13) in conjunction with its quarterly earnings call.The app is designed to simplify a difficult transaction, Rich Barton, co-founder and CEO of Zillow, said during the call.“Everyone who has moved knows that the process is complicated, time ...

Zillow Group, Inc. (NASDAQ:Z) Q4 2023 Earnings Conference Call February 13, 2024 5:00 PM ET Company Participants Bradley Berning - VP of IR Rich Barton - Co-Founder and CEO Jeremy Wacksman - COO Jeremy Hofmann - CFO Conference Call Participants John Campbell - Stephens Inc. Bradley Erickson - RBC Mark Mahaney - Evercore Ryan McKeveny - Zelman & Associates Thomas Champion - Piper Sandler Ronald Josey - Citigroup Operator Good afternoon. My name is Siarah and I'll be your conference operator for today. At thi ...