Luxury Market Continues to Grow
In early 2025, luxury homes saw stable demand, making up 7.5% of sales, up from 5% in February 2023. Listings under $1M took 64 days to sell and over $1M took 75 days.
Using the 28/36 Rule to Budget for a Home
The 28/36 rule helps buyers gauge affordability: spend no more than 28% of income on housing and 36% on total debt, though some lenders may allow more.
Housing Starts Decline Amid Economic Uncertainty
March housing starts fell 11.4% to a 1.32M pace amid higher rates and costs, while permits rose 1.6%, suggesting continued interest in future building.