Housing Market News

First-Time Buyers Catch a Break as Affordability for U.S. Starter Homes Improves Slightly Faster Than Overall Market

Americans need to earn $70,693 to afford the typical U.S. starter home, down 1.5% from a year ago. The income needed to afford a starter home - those in the 5th to 35th percentile for sale prices - has been falling since November 2025.

But the declines are shrinking; in January, for instance, the income needed to afford a starter home fell 5.3% year over year. That's largely because mortgage rates have risen throughout 2026, pushing up housing costs.

We consider a home affordable if a buyer taking out a mortgage would spend no more than 30% of their income on their monthly housing payment. Starter homes are those in the 5th to 35th percentile for sale prices.
Read more from Redfin.

What Makes Chester County One of Pennsylvania's Most Sought-After Places to Live

Chester County added more than 26,000 residents between 2020 and 2024, the largest numeric increase of any county in Pennsylvania during that period.

A strong economy, recognized school districts, walkable downtowns, and preserved countryside did the work by drawing families, professionals, and retirees who were looking for something and found it here.

The growth has brought rewards and costs, and residents are navigating both.
Read more from Philadelphia.Today.

Wayne Ranks Among the Mid-Atlantic's Top Luxury Real Estate Markets

Luxury home sales are accelerating across Greater Philadelphia, and Wayne has emerged as one of the Mid-Atlantic’s hottest high-end housing markets.

This spring, 37 of the 88 homes sold in Wayne’s 19087 ZIP code qualified as luxury properties, meaning roughly two out of every five sales landed in the top tier of the market, writes Michaelle Bond for The Philadelphia Inquirer.

That performance put Wayne among the 10 Mid-Atlantic ZIP codes with the highest shares of luxury home sales, according to Bright MLS.
Read more from Vista.Today.

Get the Latest Local Housing Market Data from Long and Foster's County Market Reports

Bucks County, PA
Chester County, PA
Delaware County, PA
Montgomery County, PA
Philadelphia County, PA
Atlantic County, NJ
Cape May County, NJ
Ocean County, NJ

Gen Z Homebuyers Focused More on Cost Than Location

The dream of homeownership is still alive for young Americans, but they don't want to bust their budgets to make it happen, a new survey found.

"Understanding our Next Generation of Homebuyers," published today by NewHomeSource, suggests that aspiring Gen Z buyers are willing to make sacrifices to afford a home, but spending significantly more on housing costs isn't one of them.

The survey was conducted in June and included responses from roughly 1,000 Americans across 47 states born between 2000 and 2009.
Read more from Real Estate News.

The Hidden Cost of Waiting to Buy a Home

As home prices and the cost of living rise, many Americans are feeling hesitant to buy a home. However, many believe that they'll also pay a price if they wait too long, according to a survey by Lombardo Homes.

The survey revealed that 9 in 10 renters feel trapped between rising rents and rising home prices, yet 93% worry that waiting to buy a home will make homeownership even less affordable. When asked whether buying a home felt impossible in today’s economy, 84% of renters said yes, and 6 in 10 said they regret not buying a home sooner.
Read more from the PA Association of Realtors.

Home Sales Surged 7% in July But New Pending Home Sales Fell From June

Home sales surged 7% in July, the strongest annual gain seen so far this year, according to the Zillow July Market Report. But a closer look takes some air out of that headline figure. Newly pending listings are up just 0.3% year over year, suggesting July may represent the peak of what we can expect for the rest of the year.

July's headline sales figure reflects contracts signed weeks earlier, when underlying pent-up demand for housing, combined with an improving rate environment, drove strong activity. A fresh oil price shock in July sent mortgage rates higher, likely prompting many home shoppers to pause their search.
Read more from Zillow.

How Are Homebuyers Using AI?

Artificial intelligence is everywhere, and 1 in 5 prospective homebuyers and current homeowners have turned to it for homebuying research, according to the National Association of Realtors, via Bank of America.

Millennials and Gen Z make up most of those utilizing AI for these purposes, with 28% and 32%, respectively, saying they've used AI to support their home search and/or for financial planning.
Read more from the PA Association of Realtors.
Homes With All-White Exteriors are Losing Ground to This Trending Color
 
For years, white has been the go-to choice for home exteriors, with homeowners painting everything from brick to siding in crisp, bright shades. But homeowners may want to rethink painting that brick. Exterior home trends are favoring warmer color palettes

In 2024, white accounted for about one-quarter of renovated home exteriors. By 2026, that share had dropped to just 14%, according to the 2026 U.S. Houzz Outdoor Trends Study. Gray is also falling out of favor, declining from 19% to 12% over the same period.
Read more from the PA Association of Realtors.