The Joint Center for Housing Studies (JCHS) of Harvard University released the 2023 edition of its annual State of the Nation’s Housing Report. JCHS will hold a release webinar today at 11:30 a.m. ET, register here.
U.S. housing markets continue to cool as higher costs weigh on both homeowners and renters. On the for-sale side, home sales and construction levels have declined, while rental markets are experiencing sharply reduced rent growth and rising vacancy rates. Nevertheless, home prices and rents remain elevated from pre-pandemic levels, leaving millions —including a disproportionate share of people of color—struggling with housing cost burdens, priced out of homeownership or without shelter at all.
