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The April Housing Report by Realtor.com reveals that the required household income to purchase a home exceeded $250,000 in four California metros, with San Jose leading at $361,000. The report also highlights the rise in active listings in the South, showing a 43% increase year over year.
Rents declined in March for the eighth consecutive month, with year-over-year prices dropping by -0.3% across all unit sizes. Major markets like Austin, Memphis, St. Louis, Atlanta, Miami, and Phoenix lead the nation with significant rent drops. Despite the decline, the median rent of $1,722 was only $36 less than the peak in August 2022. The Midwest saw steady rents, while the South and West experienced new growth. Studios saw the biggest decline, with a drop of -1.4% year-over-year.