Redfin reports that an increase in December housing supply has led to rising vacancies, motivating landlords to lower asking rents, which fell nearly 1% from a year earlier.
Read More »2023 Home Sales Dip to Levels Not Seen Since 2008
Could this be the slowest home sales year in nearly 15 years? Click through to learn the factors that have been keeping buyers "in a bind all year.”
Read More »Growing Multifamily Supply Contributes to Easing of Nationwide Rental Costs
Nationwide, Redfin found that asking rents rose just 0.4% year-over-year to an average of $2,011 in September, as an increasing supply in recent years has flooded the market with inventory.
Read More »Real Estate Market Hits All-Time High, Now Valued at $47T
The last market peak occurred in June of 2022 when the real estate market set its all-time high of $46.6T, but now a shortage of homes has propped up sales, pushing valuation numbers ever skyward.
Read More »Eight Percent of Homes Nationwide are Worth $1M+
According to a new report from Redfin, just 8% of single-family homes throughout the country are worth more than $1 million, a number which has retreated from an all-time high of 8.6% from just over a year ago.
Read More »Home-Sale Prices Rise for First Time in Five Months
Today, a monthly budget of $3,000 can afford a home valued at $450,000—a far cry from the $510,000 home it could have purchased a year ago.
Read More »Housing Inventory Posted its Biggest Decline in More Than a Year
Across the U.S., there are nearly 40% fewer homes for sale compared to pre-pandemic norms, as new listings dropped an overall 23% from last June, according to Redfin’s Homebuyer Demand Index.
Read More »Forty-Eight Percent of Homes Sold in April Under Contract Within Two Weeks
The number of homes that went under contract within two weeks rose 2% from March. While that jump may seem small, it’s notable because the share of homes selling in two weeks typically falls in April after peaking in March.
Read More »Mortgage-Purchase Applications Up 3%
A sign of future activity, mortgage-purchase applications are up, although pending home sales are down 20% year-over-year.
Read More »Average Rent Surpasses $2,000
Rent gains in November fell for the sixth straight month. Click through to learn what the latest data reveals.
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