{"id":138414,"date":"2021-05-31T11:30:00","date_gmt":"2021-05-31T17:30:00","guid":{"rendered":"https:\/\/www.biggerpockets.com\/blog\/?p=138414"},"modified":"2023-06-29T11:55:20","modified_gmt":"2023-06-29T17:55:20","slug":"home-price-sticker-shock","status":"publish","type":"post","link":"https:\/\/www.biggerpockets.com\/blog\/home-price-sticker-shock","title":{"rendered":"The Sticker Shock Is Real: How Supply and Demand Created Today&#8217;s Wild Market"},"content":{"rendered":"\n\n      <iframe loading=\"lazy\" frameborder=\"0\" height=\"200\" scrolling=\"no\" src=\"https:\/\/playlist.megaphone.fm?e=BIGPOC1096457272&#038;light=false\" width=\"100%\"><\/iframe>  \n\n\n\n\n<p class=\"wp-block-paragraph\">Anyone who follows housing knows that things are pretty wild right now. The word \u201cwild\u201d evokes a certain measure of subjectivity\u2014after all, some people like things wild. Some people very much do not.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">But more and more folks are finding themselves wishing things would settle down. (Unless you are listing a property with plans to downsize mightily on your next home\u2014in which case you\u2019re a happy camper).<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">But for prospective buyers, flippers, and rental property investors, there\u2019s a lot of sticker shock. And the newest knot in the mix is the sticker shock seen by homebuilders on raw materials and labor costs. There are massive bottlenecks and price increases throughout the builder supply chain, and this threatens to dampen new supply precisely when it\u2019s needed most to meet the insatiable demand.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The demand side of the housing market is running hot\u2014a combination of the organic growth from demographic shifts as Millennials become the largest homebuying block, and the pent-up demand left over from the tumbleweed months of the pandemic.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Everyone with their hands in the industry has their anecdotes. Bidding wars before a listing even pops up on anyone&#8217;s radar. New builds sold for $30,000, $40,000, $60,000 over a month-old spec before the foundation is even laid. Or buyers on a budget visiting 70, 80, or even 100 properties with no luck while continually pruning their wish list for size, location, and features.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Here\u2019s the facts that frame how the market got so wild and what we can expect to see in the months ahead.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n\n\n\n<div id=\"hero-block_62ee867235a1c\" class=\"first:mt-0 hero-block py-4    has-background has-slate-300-background-color has-text-color has-slate-800-color\">\n    <div\n        class=\"gap-10 lg:gap-20 flex flex-wrap lg:flex-nowrap max-w-screen-xl mx-auto px-4 relative lg:items-center \">\n\n        <div class=\"relative z-30 lg:w-2\/3 \">\n            <main class=\"py-4\">\n                \n\n<p class=\"has-theme-slate-color has-text-color has-large-font-size wp-block-paragraph\" style=\"font-style:normal;font-weight:800\">Find financial freedom through rentals<\/p>\n\n\n\n<p class=\"my-3 md:my-5 lg:my-8 has-theme-slate-color has-text-color wp-block-paragraph\" style=\"font-size:16px\">If you\u2019re considering using rental properties to build wealth, this book is a must-read. With nearly 400 pages of in-depth advice for building wealth through rental properties,&nbsp;<a class=\"rank-math-link\" href=\"https:\/\/store.biggerpockets.com\/products\/rental-property-investing?utm_source=blog&amp;utm_medium=blog%20banner\" target=\"_blank\"><em>The Book on Rental Property Investing<\/em><\/a>&nbsp;imparts the practical and exciting strategies that investors use to build cash flow and wealth.<\/p>\n\n\n\n<div id=button-custom-event-block_641384b1eb1d8 class='button-custom-event'>\n      <a href=\"https:\/\/store.biggerpockets.com\/products\/rental-property-investing?utm_source=blog&#038;utm_medium=marketing_block\" x-on:click=\"window.analytics.track(&#039;Blog Block | Publishing: Rental Property Investing&#039;, {\n      referrer: &#039;https:\/\/www.biggerpockets.com\/blog\/home-price-sticker-shock&#039;,\n    });\" class=\" btn-shape inline-block no-underline has-background has-theme-gold-background-color has-text-color has-white-color\" target=\"_blank\">Get Yours Now<\/a>\n  <\/div>\n\n            <\/main>\n        <\/div>\n\n                <div class=\"lg:w-1\/3 first:mt-0 relative h-full lg:flex lg:items-center\">\n            <img decoding=\"async\" class=\"object-cover w-full relative z-20 my-0  rounded-md hidden lg:block\" src=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2021\/03\/rental-property-investing.jpeg\" alt=\"\" title=\"\">\n        <\/div>\n            <\/div>\n<\/div>\n\n\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\">Prices. Just. Keep. Rising.<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Last week we saw the latest <a href=\"https:\/\/www.spglobal.com\/spdji\/en\/indices\/indicators\/sp-corelogic-case-shiller-us-national-home-price-nsa-index\/#overview\" class=\"rank-math-link\" target=\"_blank\" rel=\"noopener\">S&amp;P CoreLogic Case-Shiller National Home Price Index<\/a> for the March period, which printed another scorcher. The national index rose 13.2% year-over-year\u2014the fastest growth since 2005. It was also the 10th straight month of accelerating gains, besting the 12% growth seen in February.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Results were similar across the urban sub-indexes, with the 20-city Case-Shiller composite up 13.3% and the 10-city up 12.8%.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Two quick notes about these average sales prices. First, this is on a lag. We\u2019re already 8 weeks ahead of the data sample here. Estimates are for roughly 14% year-over-year growth in April&#8230; and the past few months have surpassed estimates. We\u2019re probably not yet peaking in this pricing surge, but some signals suggest we\u2019re only a month or two away from a near-term peak.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Secondly, average selling prices continue to rise even as mortgage rates creep higher. The average rate on a 30-year fixed just ticked above 3% for the first time in two months this past week. Most economists predict rates to move higher throughout the summer while remaining moderate enough to not create tremors in the housing market. The winds of inflation are out there, but not blowing anything over as of yet.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In March, there were just as many new homes that sold for more than $500,000 as properties selling for under $300,000. Just two years ago, there were 140% more homes that sold for under $300,000. That\u2019s stark, especially as many of those homes are in ZIP codes not used to seeing such things.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Affordability is starting to slip<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">The math is quite clear in this regard. Skyrocketing selling prices means that unless household incomes are rising faster than home prices are and mortgage rates are flat or falling, affordability will decrease for a median buyer. And that\u2019s just what we\u2019re beginning to see.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Income gains have been strong nationally, about 11% year-over-year (excluding stimulus payments). Still, that\u2019s less than the increases in average home prices. The other factor is mortgage rates, which have held steady enough in 2021 not to shift the equation. But it\u2019s a precipitous zone we\u2019re in if we (rightly?) assume average selling prices have not yet peaked.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The National Association of Realtors (NAR) <a href=\"https:\/\/www.nar.realtor\/research-and-statistics\/housing-statistics\/housing-affordability-index\" class=\"rank-math-link\" target=\"_blank\" rel=\"noopener\">publishes an affordability index<\/a> that still shows an overall solid trend line, but the newest data suggests a downward click in affordability nationwide. Home prices are rising just too fast.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">According to First American Economics, in 45 of the 50 largest markets, affordability is increasingly becoming an issue.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"999\" height=\"759\" src=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2021\/05\/Dashboard-8.png\" alt=\"tableau table\" class=\"wp-image-154644\" title=\"\" srcset=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2021\/05\/Dashboard-8.png 999w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2021\/05\/Dashboard-8-300x228.png 300w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2021\/05\/Dashboard-8-768x583.png 768w\" sizes=\"auto, (max-width: 999px) 100vw, 999px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">This dynamic will lead to more sticker shock for more buyers, and at the margin, more people backing away from making purchases right now. In the months ahead, this should give us a clear price peak and a mild retreat in average selling prices.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This assumes that mortgage rates stay an \u201cequal factor\u201d and don&#8217;t move sharply in either direction throughout the summer. The Federal Reserve, for its part, is committing to continue buying mortgage-backed securities (MBS) and has become a cheerleading group with only one chant: \u201cDon\u2019t worry, we\u2019ll keep rates low as long as humanly possible.\u201d They have some power to keep that promise, but financial markets will choose for them in the end.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">On the big picture side of the economy, all signs point green. The Q1 GDP was 6.4%, and unemployment claims just hit a one-year \u201cpandemic low.\u201d All good, but also indicative of potentially higher interest rates in the months ahead.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Too few properties, too many buyers<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">A sad statistic: According to data from Altos Research, the <a href=\"https:\/\/blog.altosresearch.com\/insights\/how-does-the-altos-research-inventory-measurement-differ-from-the-nar-version\" class=\"rank-math-link\" target=\"_blank\" rel=\"noopener\">inventory of single-family homes for sale<\/a> actually made its highest weekly jump in more than two years last week. Why is that sad? Because it\u2019s a drop in the bucket in terms of need.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Demographics, pent-up demand from 2020, secular shifts in remote work capabilities\u2014all these factors create higher numbers of wanting homebuyers. But increasingly, individuals have to compete with investors big and small, from the entrepreneurial all the way up to giant pools of institutional capital, foreign and domestic.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Homebuyers are squeezed<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">In Thursday\u2019s NAR <a href=\"https:\/\/www.reuters.com\/article\/usa-economy-housing\/us-pending-home-sales-decline-in-april-idUSL2N2ND2TT\" target=\"_blank\" rel=\"noopener\">Pending Home Sales report<\/a>, NAR\u2019s chief economist Lawrence Yun noted, \u201cContract signings are approaching pre-pandemic levels after the big surge due to the lack of sufficient supply of affordable homes. The upper-end market is still moving sharply as inventory is more plentiful there.\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This speaks again to the affordability issues growing in the lower and middle price zones of the market. And it\u2019s already showing up in the data. Existing home sales took an<a href=\"https:\/\/www.reuters.com\/article\/usa-economy-housing\/us-pending-home-sales-decline-in-april-idUSL2N2ND2TT\" target=\"_blank\" rel=\"noopener\"> unexpected<\/a> 2.7% dip in April, and <a href=\"https:\/\/www.reuters.com\/article\/usa-economy-housing\/us-pending-home-sales-decline-in-april-idUSL2N2ND2TT\" target=\"_blank\" rel=\"noopener\">pending home sales<\/a> fell 4.4% versus expectations of an increase. Boots on the ground suggest that current trends are accelerating.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Data from Zonda research indicates prospective buyers at the margin are experiencing significant hesitancy\u2014and sticker shock. In May, hesitancy from buyers spiked to 40%.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Construction is lumbering<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Yeah, it\u2019s a bad pun. Sometimes we can\u2019t resist. But new home construction is stalling thanks to rampant supply constraints brought on by raw material costs that are going supernova. Copper is up 34% year-to-date. And lumber? <a href=\"https:\/\/www.nasdaq.com\/market-activity\/commodities\/lbs\" class=\"rank-math-link\" target=\"_blank\" rel=\"noopener\">Um, well<\/a>\u2026<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">One Denver builder says they are \u201climiting sales at all communities and gapping out on lots. Material availability is becoming more concerning.\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">And a Charlotte builder adds, \u201cNo pre-sales as of now. Starting specs and will price at drywall. Sales are still strong, but we are starting to see a little bit of a slowdown as we have pushed pricing considerably.\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A Raleigh-Durham builder is \u201cstarting to see some reluctance and concern around home prices balancing, to some extent, the buying frenzy that we have seen over the last few months.&#8221; The builder continues to raise prices: &#8220;We get material and labor cost increase notices every day!\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Homebuilders face a big problem\u2014trying to guesstimate how much they can actually sell a new home given higher and higher costs are compressed margins. The price increases they\u2019re pushing through are sticking\u2014for now. But it\u2019s a day-to-day battle when window frames, doors, wiring, and foundation materials are rising 10% to 15% per month.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The next couple of months will be critical tone-setters. Will supply and demand rebalance? Or will continued higher average home prices start shoving people clear out of the market? The latter will create more messiness than most real estate investors are prepared for\u2014but could be great for rental property owners, as more folks will shrug and continue to rent.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The ultimate X factor is the mortgage rate trend\u2014and specifically the rate of inflation that invariably moves mortgage rates. The Fed can cheerlead all it wants, but if inflation continues to spike, the market will move regardless of what the Fed wants or says. Things like lumber prices, agricultural commodities, metals, fuel\u2014they\u2019re already rising much faster than the \u201cstated rate of inflation.\u201d <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">For now, it\u2019s steady as she goes in mortgage rate land, but wild times may be around the corner.<\/p>\n\n\n\n  <div id=\"posts_lists-block_60b12739e4bbd\" class=\"  my-10\">\n    <div class=\"\">\n      <!-- Column One -->\n      <div>\n                  <h2 class=\"mt-0 mb-1 js-toc-ignore\">\n            More news from BiggerPockets          <\/h2>  \n                  \n                  <div class=\"mt-1 mb-0 text-sm mb-2 excerpt\">\n            <span data-sheets-value=\"{\" data-sheets-userformat=\"{\">Stay on top of the latest real estate news, trends, government policies, and more.<\/span>          <\/div>\n        \n                  <a href=\"https:\/\/www.biggerpockets.com\/blog\/category\/real-estate-news\" class=\"no-underline text-themeBlue-medium hover:underline uppercase font-semibold text-sm\" target=\"_blank\">News &amp; Trends<\/a>\n        \n        <div class=\"grid grid-cols-1 gap-y-4 lg:gap-y-7 mt-5\">\n          \n<article \n\tid=\"post-185235\" \n\tclass=\"content-card mb-0 flex flex-col  post-185235 post type-post status-publish format-standard has-post-thumbnail hentry category-real-estate-news\">\n\n\t<header class=\"entry-header\">\t\t\t\n\t\t<!-- Image -->\n        \t\t\t<a class=\"post-thumbnail\" href=\"https:\/\/www.biggerpockets.com\/blog\/zillow-faces-major-lawsuit-over-alleged-monopoly\" target=\"_blank\" aria-hidden=\"true\" tabindex=\"-1\">\n\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"340\" height=\"225\" src=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2025\/10\/lawsuit_canva-340x225.jpg\" class=\"size-card w-full  m-0 aspect-[68\/45] object-scale-down wp-post-image\" alt=\"Zillow Faces a New Major Lawsuit Over an Alleged Monopoly\" title=\"\">\t\t\t<\/a>\n\t\t        \n\n\t\t<!-- Content Wrapper -->\n\t\t<div class=\"py-4 \">\t\n                            <div class=\"flex gap-4 justify-between items-center\">\n                    <!-- Category  -->\n                                            <a href=\"https:\/\/www.biggerpockets.com\/blog\/category\/real-estate-news\" class=\"transition-colors bg-themeBlue\/20 text-themeBlue-medium hover:bg-themeBlue hover:text-white px-2 py-1 mb-2 inline-block rounded-sm no-underline text-sm\" target=\"_blank\">News &amp; Trends<\/a>\n                    \n                                            <span class=\"text-sm text-gray-500 hidden lg:inline-block\">5 min read<\/span>\n                                    <\/div>\n            \n           <div class=\"flex gap-3 items-center my-2 flex-nowrap text-base\">\n                <!-- Avatar and Author Name -->\n                <img decoding=\"async\" src=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2024\/02\/cropped-Jeff-V-Garcia-Photography-71788-scaled-1-150x150.jpg\" class=\"w-8 h-8 object-cover my-0 inline-block rounded-full\" alt=\"\" title=\"\"><span class='leading-snug text-slate-500 flex items-center'><span class='hidden whitespace-nowrap sm:inline-block md:hidden lg:inline-block pr-1'><span class='posted-on'><time class=\"entry-date published\" datetime=\"2025-10-17T10:26:15-06:00\">Oct 17, 2025<\/time><time class=\"updated\" datetime=\"2025-10-17T10:26:42-06:00\">Oct 17, 2025<\/time><\/span><\/span>&nbsp;<a href=\"https:\/\/www.biggerpockets.com\/blog\/contributors\/jeffvasishta\" class=\"no-underline line-clamp-1\" target=\"_blank\">Jeff Vasishta<\/a><\/span>            <\/div>\n\n            <!-- Post title -->\n\t\t\t<h2 class=\"entry-title js-toc-ignore mt-4 mb-0 text-xl leading-snug text-left\">\n\t\t\t\t<a href=\"https:\/\/www.biggerpockets.com\/blog\/zillow-faces-major-lawsuit-over-alleged-monopoly\" rel=\"bookmark\" class=\"whitespace-normal no-underline font-bold  text-slate visited:text-slate hover:text-themeBlue\" target=\"_blank\">\n\t\t\t\t\tZillow Faces a New Major Lawsuit Over an Alleged Monopoly\t\t\t\t<\/a>\n\t\t\t<\/h2>\n\t\t\t\n                        <p class=\"text-lg font-normal mt-3 text-slate-500 mb-1 line-clamp-3\">If you want to buy, sell, or rent real estate in the U.S., Zillow appears to be the only game in town. That\u2019s according to the Semrush Traffic Analytics tool,&hellip;<\/p>\n\t\t<\/div>\n\t<\/header>\n     <footer class=\"flex justify-between mt-auto\">\n        <!-- Comment Count -->\n        \t\t<span class='flex items-center space-x-2 text-sm' x-cloak x-data='commentCount()' :class=\"parseFloat(commentCount) < 1 || commentCount == '' ? 'hidden' : 'flex'\">\n\t\t\n            <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"h-5 w-5 text-slate text-opacity-50\" fill=\"none\" viewBox=\"0 0 24 24\" stroke=\"currentColor\">\n                <path stroke-linecap=\"round\" stroke-linejoin=\"round\" stroke-width=\"2\" d=\"M17 8h2a2 2 0 012 2v6a2 2 0 01-2 2h-2v4l-4-4H9a1.994 1.994 0 01-1.414-.586m0 0L11 14h4a2 2 0 002-2V6a2 2 0 00-2-2H5a2 2 0 00-2 2v6a2 2 0 002 2h2v4l.586-.586z\" \/>\n            <\/svg>\n\n            <span x-ref=\"comment_count\" class=\"disqus-comment-count text-slate text-opacity-80\" data-disqus-identifier=\"185235\">\n\t\t\t\t\t\t\t<\/span>\n        <\/span>\n\t    <\/footer>\n<\/article><!-- #post-185235 -->\n<article \n\tid=\"post-184780\" \n\tclass=\"content-card mb-0 flex flex-col  post-184780 post type-post status-publish format-standard has-post-thumbnail hentry category-real-estate-news\">\n\n\t<header class=\"entry-header\">\t\t\t\n\t\t<!-- Image -->\n        \t\t\t<a class=\"post-thumbnail\" href=\"https:\/\/www.biggerpockets.com\/blog\/fed-cuts-rates-as-employment-softens-but-real-estate-recovery-remains-uncertain\" target=\"_blank\" aria-hidden=\"true\" tabindex=\"-1\">\n\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"340\" height=\"225\" src=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2025\/08\/fed_canva-2-340x225.jpg\" class=\"size-card w-full  m-0 aspect-[68\/45] object-scale-down wp-post-image\" alt=\"Fed Cuts Rates as Employment Softens, But Real Estate Recovery Remains Uncertain\" title=\"\">\t\t\t<\/a>\n\t\t        \n\n\t\t<!-- Content Wrapper -->\n\t\t<div class=\"py-4 \">\t\n                            <div class=\"flex gap-4 justify-between items-center\">\n                    <!-- Category  -->\n                                            <a href=\"https:\/\/www.biggerpockets.com\/blog\/category\/real-estate-news\" class=\"transition-colors bg-themeBlue\/20 text-themeBlue-medium hover:bg-themeBlue hover:text-white px-2 py-1 mb-2 inline-block rounded-sm no-underline text-sm\" target=\"_blank\">News &amp; Trends<\/a>\n                    \n                                            <span class=\"text-sm text-gray-500 hidden lg:inline-block\">4 min read<\/span>\n                                    <\/div>\n            \n           <div class=\"flex gap-3 items-center my-2 flex-nowrap text-base\">\n                <!-- Avatar and Author Name -->\n                <img decoding=\"async\" src=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2024\/02\/cropped-Jeff-V-Garcia-Photography-71788-scaled-1-150x150.jpg\" class=\"w-8 h-8 object-cover my-0 inline-block rounded-full\" alt=\"\" title=\"\"><span class='leading-snug text-slate-500 flex items-center'><span class='hidden whitespace-nowrap sm:inline-block md:hidden lg:inline-block pr-1'><span class='posted-on'><time class=\"entry-date published\" datetime=\"2025-09-17T13:01:25-06:00\">Sep 17, 2025<\/time><time class=\"updated\" datetime=\"2025-09-17T13:01:29-06:00\">Sep 17, 2025<\/time><\/span><\/span>&nbsp;<a href=\"https:\/\/www.biggerpockets.com\/blog\/contributors\/jeffvasishta\" class=\"no-underline line-clamp-1\" target=\"_blank\">Jeff Vasishta<\/a><\/span>            <\/div>\n\n            <!-- Post title -->\n\t\t\t<h2 class=\"entry-title js-toc-ignore mt-4 mb-0 text-xl leading-snug text-left\">\n\t\t\t\t<a href=\"https:\/\/www.biggerpockets.com\/blog\/fed-cuts-rates-as-employment-softens-but-real-estate-recovery-remains-uncertain\" rel=\"bookmark\" class=\"whitespace-normal no-underline font-bold  text-slate visited:text-slate hover:text-themeBlue\" target=\"_blank\">\n\t\t\t\t\tFed Cuts Rates as Employment Softens, But Real Estate Recovery Remains Uncertain\t\t\t\t<\/a>\n\t\t\t<\/h2>\n\t\t\t\n                        <p class=\"text-lg font-normal mt-3 text-slate-500 mb-1 line-clamp-3\">Following a weakening labor market, the Federal Reserve&#8217;s announcement that it will cut interest rates by 0.25% on Sept. 17 comes as welcome relief to the real estate industry, as&hellip;<\/p>\n\t\t<\/div>\n\t<\/header>\n     <footer class=\"flex justify-between mt-auto\">\n        <!-- Comment Count -->\n        \t\t<span class='flex items-center space-x-2 text-sm' x-cloak x-data='commentCount()' :class=\"parseFloat(commentCount) < 1 || commentCount == '' ? 'hidden' : 'flex'\">\n\t\t\n            <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"h-5 w-5 text-slate text-opacity-50\" fill=\"none\" viewBox=\"0 0 24 24\" stroke=\"currentColor\">\n                <path stroke-linecap=\"round\" stroke-linejoin=\"round\" stroke-width=\"2\" d=\"M17 8h2a2 2 0 012 2v6a2 2 0 01-2 2h-2v4l-4-4H9a1.994 1.994 0 01-1.414-.586m0 0L11 14h4a2 2 0 002-2V6a2 2 0 00-2-2H5a2 2 0 00-2 2v6a2 2 0 002 2h2v4l.586-.586z\" \/>\n            <\/svg>\n\n            <span x-ref=\"comment_count\" class=\"disqus-comment-count text-slate text-opacity-80\" data-disqus-identifier=\"184780\">\n\t\t\t\t\t\t\t<\/span>\n        <\/span>\n\t    <\/footer>\n<\/article><!-- #post-184780 -->\n<article \n\tid=\"post-146041\" \n\tclass=\"content-card mb-0 flex flex-col  post-146041 post type-post status-publish format-standard has-post-thumbnail hentry category-real-estate-news category-biggerpockets-daily\">\n\n\t<header class=\"entry-header\">\t\t\t\n\t\t<!-- Image -->\n        \t\t\t<a class=\"post-thumbnail\" href=\"https:\/\/www.biggerpockets.com\/blog\/when-will-the-fed-lower-rates-again\" target=\"_blank\" aria-hidden=\"true\" tabindex=\"-1\">\n\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"340\" height=\"225\" src=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2022\/12\/federal-reserve-1-768x388-1-340x225.webp\" class=\"size-card w-full  m-0 aspect-[68\/45] object-scale-down wp-post-image\" alt=\"When Will The Fed Lower Rates Again? Sooner Than You Think\" title=\"\">\t\t\t<\/a>\n\t\t        \n\n\t\t<!-- Content Wrapper -->\n\t\t<div class=\"py-4 \">\t\n                            <div class=\"flex gap-4 justify-between items-center\">\n                    <!-- Category  -->\n                                            <a href=\"https:\/\/www.biggerpockets.com\/blog\/category\/real-estate-news\" class=\"transition-colors bg-themeBlue\/20 text-themeBlue-medium hover:bg-themeBlue hover:text-white px-2 py-1 mb-2 inline-block rounded-sm no-underline text-sm\" target=\"_blank\">News &amp; Trends<\/a>\n                    \n                                            <span class=\"text-sm text-gray-500 hidden lg:inline-block\">2 min read<\/span>\n                                    <\/div>\n            \n           <div class=\"flex gap-3 items-center my-2 flex-nowrap text-base\">\n                <!-- Avatar and Author Name -->\n                <img decoding=\"async\" src=\"https:\/\/secure.gravatar.com\/avatar\/e8ccac5c5e56c35ffe5ca19e1c938129c6a3c884b861fc443e53c35f5ca54328?s=150&#038;d=mp&#038;r=g\" class=\"w-8 h-8 object-cover my-0 inline-block rounded-full\" alt=\"\" title=\"\"><span class='leading-snug text-slate-500 flex items-center'><span class='hidden whitespace-nowrap sm:inline-block md:hidden lg:inline-block pr-1'><span class='posted-on'><time class=\"entry-date published\" datetime=\"2022-12-19T08:59:28-07:00\">Dec 19, 2022<\/time><time class=\"updated\" datetime=\"2023-08-09T10:43:28-06:00\">Aug 09, 2023<\/time><\/span><\/span>&nbsp;<a href=\"https:\/\/www.biggerpockets.com\/blog\/contributors\/lindsayfrankel\" class=\"no-underline line-clamp-1\" target=\"_blank\">Lindsay Frankel<svg class=\"h-5 inline ml-2\" viewBox=\"0 0 21 21\" fill=\"none\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><g clip-path=\"url(#a)\"><path d=\"M19.253 5.25a1.75 1.75 0 0 0-1.663 2.29l-1.42.902a2.188 2.188 0 0 1-2.868-.46L11.91 6.28a1.73 1.73 0 0 0 .342-1.03 1.75 1.75 0 1 0-3.5 0c0 .37.12.732.34 1.03L7.701 7.982a2.188 2.188 0 0 1-2.868.46l-1.42-.903a1.75 1.75 0 1 0-1.816 1.203l1.035 6.205a.438.438 0 0 0 .43.366H17.94a.437.437 0 0 0 .431-.366l1.035-6.204a1.75 1.75 0 0 0-.153-3.494Z\" fill=\"#FFC107\"\/><path d=\"M10.502 17.064c4.108 0 7.438-.98 7.438-2.188 0-1.208-3.33-2.188-7.438-2.188-4.109 0-7.439.98-7.439 2.188 0 1.208 3.33 2.188 7.439 2.188Z\" fill=\"#FFA000\"\/><path d=\"M10.502 17.501c-3.915 0-7.877-.901-7.877-2.625s3.962-2.625 7.877-2.625c3.914 0 7.876.9 7.876 2.625 0 1.724-3.962 2.625-7.876 2.625Zm0-4.375c-4.597 0-7.001 1.137-7.001 1.75s2.404 1.75 7 1.75c4.597 0 7.002-1.138 7.002-1.75 0-.613-2.405-1.75-7.001-1.75Z\" fill=\"#FFD54F\"\/><\/g><defs><clipPath id=\"a\"><path fill=\"#fff\" d=\"M0 0h21v21H0z\"\/><\/clipPath><\/defs><\/svg><\/a><\/span>            <\/div>\n\n            <!-- Post title -->\n\t\t\t<h2 class=\"entry-title js-toc-ignore mt-4 mb-0 text-xl leading-snug text-left\">\n\t\t\t\t<a href=\"https:\/\/www.biggerpockets.com\/blog\/when-will-the-fed-lower-rates-again\" rel=\"bookmark\" class=\"whitespace-normal no-underline font-bold  text-slate visited:text-slate hover:text-themeBlue\" target=\"_blank\">\n\t\t\t\t\tWhen Will The Fed Lower Rates Again? Sooner Than You Think\t\t\t\t<\/a>\n\t\t\t<\/h2>\n\t\t\t\n                        <p class=\"text-lg font-normal mt-3 text-slate-500 mb-1 line-clamp-3\">Last week, the Fed raised its benchmark interest rate by&nbsp;half a percentage point, a slowdown from previous sprints. Still, the federal funds rate is at its highest since 2007. While&hellip;<\/p>\n\t\t<\/div>\n\t<\/header>\n     <footer class=\"flex justify-between mt-auto\">\n        <!-- Comment Count -->\n        \t\t<span class='flex items-center space-x-2 text-sm' x-cloak x-data='commentCount()' :class=\"parseFloat(commentCount) < 1 || commentCount == '' ? 'hidden' : 'flex'\">\n\t\t\n            <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"h-5 w-5 text-slate text-opacity-50\" fill=\"none\" viewBox=\"0 0 24 24\" stroke=\"currentColor\">\n                <path stroke-linecap=\"round\" stroke-linejoin=\"round\" stroke-width=\"2\" d=\"M17 8h2a2 2 0 012 2v6a2 2 0 01-2 2h-2v4l-4-4H9a1.994 1.994 0 01-1.414-.586m0 0L11 14h4a2 2 0 002-2V6a2 2 0 00-2-2H5a2 2 0 00-2 2v6a2 2 0 002 2h2v4l.586-.586z\" \/>\n            <\/svg>\n\n            <span x-ref=\"comment_count\" class=\"disqus-comment-count text-slate text-opacity-80\" data-disqus-identifier=\"146041\">\n\t\t\t\t\t\t\t<\/span>\n        <\/span>\n\t    <\/footer>\n<\/article><!-- #post-146041 -->\n<article \n\tid=\"post-145886\" \n\tclass=\"content-card mb-0 flex flex-col  post-145886 post type-post status-publish format-standard has-post-thumbnail hentry category-real-estate-news category-biggerpockets-daily\">\n\n\t<header class=\"entry-header\">\t\t\t\n\t\t<!-- Image -->\n        \t\t\t<a class=\"post-thumbnail\" href=\"https:\/\/www.biggerpockets.com\/blog\/how-long-it-takes-to-afford-rent-report\" target=\"_blank\" aria-hidden=\"true\" tabindex=\"-1\">\n\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"340\" height=\"225\" src=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2022\/12\/for-rent--340x225.jpg\" class=\"size-card w-full  m-0 aspect-[68\/45] object-scale-down wp-post-image\" alt=\"New Zillow Report Suggests Renters Must Work 63 Hours To Afford Rent In The U.S.\" title=\"\">\t\t\t<\/a>\n\t\t        \n\n\t\t<!-- Content Wrapper -->\n\t\t<div class=\"py-4 \">\t\n                            <div class=\"flex gap-4 justify-between items-center\">\n                    <!-- Category  -->\n                                            <a href=\"https:\/\/www.biggerpockets.com\/blog\/category\/real-estate-news\" class=\"transition-colors bg-themeBlue\/20 text-themeBlue-medium hover:bg-themeBlue hover:text-white px-2 py-1 mb-2 inline-block rounded-sm no-underline text-sm\" target=\"_blank\">News &amp; Trends<\/a>\n                    \n                                            <span class=\"text-sm text-gray-500 hidden lg:inline-block\">3 min read<\/span>\n                                    <\/div>\n            \n           <div class=\"flex gap-3 items-center my-2 flex-nowrap text-base\">\n                <!-- Avatar and Author Name -->\n                <img decoding=\"async\" src=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2022\/07\/cropped-profile_small-150x150.jpg\" class=\"w-8 h-8 object-cover my-0 inline-block rounded-full\" alt=\"\" title=\"\"><span class='leading-snug text-slate-500 flex items-center'><span class='hidden whitespace-nowrap sm:inline-block md:hidden lg:inline-block pr-1'><span class='posted-on'><time class=\"entry-date published\" datetime=\"2022-12-07T14:02:45-07:00\">Dec 07, 2022<\/time><time class=\"updated\" datetime=\"2023-08-09T10:31:18-06:00\">Aug 09, 2023<\/time><\/span><\/span>&nbsp;<a href=\"https:\/\/www.biggerpockets.com\/blog\/contributors\/annacottrell\" class=\"no-underline line-clamp-1\" target=\"_blank\">Anna K. Cottrell<\/a><\/span>            <\/div>\n\n            <!-- Post title -->\n\t\t\t<h2 class=\"entry-title js-toc-ignore mt-4 mb-0 text-xl leading-snug text-left\">\n\t\t\t\t<a href=\"https:\/\/www.biggerpockets.com\/blog\/how-long-it-takes-to-afford-rent-report\" rel=\"bookmark\" class=\"whitespace-normal no-underline font-bold  text-slate visited:text-slate hover:text-themeBlue\" target=\"_blank\">\n\t\t\t\t\tNew Zillow Report Suggests Renters Must Work 63 Hours To Afford Rent In The U.S.\t\t\t\t<\/a>\n\t\t\t<\/h2>\n\t\t\t\n                        <p class=\"text-lg font-normal mt-3 text-slate-500 mb-1 line-clamp-3\">A recent report from&nbsp;Zillow&nbsp;highlights the U.S. affordability crisis creatively. Rather than just focusing on the rapid price growth in rents across the country over the past couple of years, the&hellip;<\/p>\n\t\t<\/div>\n\t<\/header>\n     <footer class=\"flex justify-between mt-auto\">\n        <!-- Comment Count -->\n        \t\t<span class='flex items-center space-x-2 text-sm' x-cloak x-data='commentCount()' :class=\"parseFloat(commentCount) < 1 || commentCount == '' ? 'hidden' : 'flex'\">\n\t\t\n            <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"h-5 w-5 text-slate text-opacity-50\" fill=\"none\" viewBox=\"0 0 24 24\" stroke=\"currentColor\">\n                <path stroke-linecap=\"round\" stroke-linejoin=\"round\" stroke-width=\"2\" d=\"M17 8h2a2 2 0 012 2v6a2 2 0 01-2 2h-2v4l-4-4H9a1.994 1.994 0 01-1.414-.586m0 0L11 14h4a2 2 0 002-2V6a2 2 0 00-2-2H5a2 2 0 00-2 2v6a2 2 0 002 2h2v4l.586-.586z\" \/>\n            <\/svg>\n\n            <span x-ref=\"comment_count\" class=\"disqus-comment-count text-slate text-opacity-80\" data-disqus-identifier=\"145886\">\n\t\t\t\t\t\t\t<\/span>\n        <\/span>\n\t    <\/footer>\n<\/article><!-- #post-145886 -->        <\/div>\n      <\/div>\n    <\/div>\n  <\/div>\n\n  ","protected":false},"excerpt":{"rendered":"<p>How did today&#8217;s housing market get so wild\u2014and what&#8217;s going to happen in the future? Here are the factors contributing to today&#8217;s prices.<\/p>\n","protected":false},"author":613562,"featured_media":138418,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[5528,7119],"tags":[],"class_list":["post-138414","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate-news","category-biggerpockets-daily"],"acf":[],"comment_count":0,"_links":{"self":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/posts\/138414","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/users\/613562"}],"replies":[{"embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/comments?post=138414"}],"version-history":[{"count":0,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/posts\/138414\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/media\/138418"}],"wp:attachment":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/media?parent=138414"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/categories?post=138414"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/tags?post=138414"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}