March 2018 Housing Market Snapshot by the Numbers

New research shows when the best time may be to sell in certain large housing markets, how much average homeowners spend on extra costs when selling, and what the share of income mortgage payments are in the most affordable U.S. metro.

Oklahoma City is the most affordable major market in the nation, and homeowners there pay only 10.8 percent of their income toward their mortgage. The next nine most affordable markets also pay less then 12 percent of their annual income. Looking at the other end of the affordability spectrum, Zillow's research found that a Seattle homebuyer would pay an extra $35,000 to live five minutes closer to the downtown area during rush hour.

21 months is how long it’s been since the median U.S. rent accelerated as quickly as did in February — 2.8 percent year-over-year, to $1,445 a month. Meanwhile, home values rose 7.6 percent to a median of $210,200. And as home-buying season approaches, inventory shrank — again. Going into home shopping season, buyers will have 10.3 percent fewer homes to choose from than a year ago.

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