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Published Date: August 11, 2023
![60 real estate facts + home-buying trends for 2023 - Pacaso | Pacaso (2) 60 real estate facts + home-buying trends for 2023 - Pacaso | Pacaso (2)](https://i0.wp.com/images.ctfassets.net/n2ifzifcqscw/3QRMlAcJFrYAEAbhziixZW/d4b9aa50215c5ea7a161b8a6b59f1974/hero-real-estate-facts-trends.jpeg?w=425)
Home financing is becoming more flexible
![60 real estate facts + home-buying trends for 2023 - Pacaso | Pacaso (3) 60 real estate facts + home-buying trends for 2023 - Pacaso | Pacaso (3)](https://i0.wp.com/images.ctfassets.net/n2ifzifcqscw/5enGAfyg9LxJ1kPU0KGu0d/9db4d7605ebef36cec64600143978665/real-estate-fact-1.png?w=425)
- The median home value is $396,100 in early July 2023. (National Association of Realtors)
- Mortgage credit availability decreased 3.1% in May 2023. (Mortgage Bankers Association)
- Mortgage financing options were the primary reason 12% of home buyers purchased a home last year. (National Association of Realtors)
- In 2022, the median down payment on a house or condo was 13%. (The Mortgage Reports)
- 14% of home buyers financed their entire purchase with a mortgage. (National Association of Realtors)
- Only 25% of home buyers applied for a mortgage online. (National Association of Realtors)
- The 2023 30-year mortgage rates are around 6%-7%. (Pacaso)
- 10% of all home buyers found the mortgage application and approval process difficult. (National Association of Realtors)
- 30% of home buyers had their mortgage application rejected due to their debt-to-income ratio. (National Association of Realtors)
- 92% of home buyers used a fixed-rate mortgage to finance their purchase. (National Association of Realtors)
- Luxury second home rate locks were 152% higher in Q3 2022. (Pacaso)
- Approximately 80% of mortgage rate locks result in home purchases. (Pacaso)
Residential home-buying trends
![60 real estate facts + home-buying trends for 2023 - Pacaso | Pacaso (4) 60 real estate facts + home-buying trends for 2023 - Pacaso | Pacaso (4)](https://i0.wp.com/images.ctfassets.net/n2ifzifcqscw/4fWBgYV9ozkLQiOtQ7RxY0/1971dc688818a2f4ab2f4e907d63d862/real-estate-fact-2.png?w=425)
Housing shortage facts
![60 real estate facts + home-buying trends for 2023 - Pacaso | Pacaso (5) 60 real estate facts + home-buying trends for 2023 - Pacaso | Pacaso (5)](https://i0.wp.com/images.ctfassets.net/n2ifzifcqscw/2QeLcK1TN3PDfCHXWAHpJi/2d8136812dcf6ac642c9cfe7d74268c5/real-estate-fact-3.png?w=425)
The rising cost of real estate
![60 real estate facts + home-buying trends for 2023 - Pacaso | Pacaso (6) 60 real estate facts + home-buying trends for 2023 - Pacaso | Pacaso (6)](https://i0.wp.com/images.ctfassets.net/n2ifzifcqscw/7mZEygi4trdPWKx9fXEkOk/466c4fdfff5b18a366b4130a7b0ccf86/real-estate-fact-4.png?w=425)
Second home-buying statistics
![60 real estate facts + home-buying trends for 2023 - Pacaso | Pacaso (7) 60 real estate facts + home-buying trends for 2023 - Pacaso | Pacaso (7)](https://i0.wp.com/images.ctfassets.net/n2ifzifcqscw/2iDHZIzejXsHxA2FlImZj9/38528cfd5cbd78c4c0464ad0f390c7c9/real-estate-fact-5.png?w=425)
The state of home prices today
![60 real estate facts + home-buying trends for 2023 - Pacaso | Pacaso (8) 60 real estate facts + home-buying trends for 2023 - Pacaso | Pacaso (8)](https://i0.wp.com/images.ctfassets.net/n2ifzifcqscw/4GRTxgb70NhxXLRKBBHmds/80c2ce04f64dd0e27c0486bcb12a0f9f/real-estate-fact-6.png?w=425)
![60 real estate facts + home-buying trends for 2023 - Pacaso | Pacaso (9) 60 real estate facts + home-buying trends for 2023 - Pacaso | Pacaso (9)](https://i0.wp.com/images.ctfassets.net/n2ifzifcqscw/ctIXMfInTFmjTbp1vIyKQ/9cf7ae10d4b131154c089c205bf17954/real-estate-trends-IG1.jpeg?w=425)
![60 real estate facts + home-buying trends for 2023 - Pacaso | Pacaso (10) 60 real estate facts + home-buying trends for 2023 - Pacaso | Pacaso (10)](https://i0.wp.com/images.ctfassets.net/n2ifzifcqscw/3xlUmSWOcUwMXQS5sm2wIy/6a9df4ee853388316bf2484a9cf78eb6/undefined.png?w=425)
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