Thought Leadership

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Why Homes Feel Less Affordable: Prices Running Ahead of Paychecks

U.S. home prices have surged 47% since 2019, while household incomes rose only 22%, leaving millions priced out of homeownership. Even as mortgage rates ease near 6.3%, affordability remains at record lows, with coastal and Sun Belt metros hardest hit and only a few Midwest cities still within reach for median-income buyers.

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The Evolution of Appraisals: Adapting to the New UAD 3.6

In a recent Valuation Review article, Veros and Valligent thought leaders, George Paquette, and Kristin Gruidl, speak on the implementation of UAD 3.6, and its impact on the appraisal profession. Additionally, they discuss the impacts of the Uniform Residential Appraisal Report, which will replace outdated forms with a more data-driven format.

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Row of houses for sale, no homebuyers

Where Have All the Homebuyers Gone?

Over the last several years, the U.S. housing market has seen a sharp decline in buyer activity. In May from 2016 to 2022 (except 2020), over five million homes were sold at an annualized rate. In contrast, May 2025 saw just four million sales (NAR). This drop is not limited to first-time buyers—repeat buyers are also pulling back from the market. So, where have all the buyers gone?

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Q3-2025 Quarterly Economic & Housing Market Update

The strong inflation reading for June was largely due to higher shelter and food prices, as well as goods that are more prone to higher tariffs. The shelter category of the CPI (Consumer Price Index), which includes housing costs, continued to be a significant and persistent driver of overall inflation. The shelter index increased 3.8% over the last year. However, there are emerging indicators that housing cost pressures may be easing.

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Q2-2025 Quarterly Economic & Housing Market Update

While the March 2025 Consumer Price Index shows a welcome easing of overall inflation to 2.4%, the persistently high 4.0% year-over-year increase in shelter costs remains a significant obstacle for housing affordability. This sustained rise in housing expenses continues to strain household budgets and complicate the decision for many potential homebuyers in the current market.

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