Tag Archives: Daryl Fairweather

Redfin’s latest analysis of homebuyer trends has found that bidding wars are heating up as mortgage rates have dipped and the nation’s housing supply remains strained.

For its most recent cover story, MortgagePoint assembled a panel of economists to forecast the top trends and headwinds they expect to define the housing market in 2024.

In 2023, Redfin found that Gen Zers were tracking ahead of where their parents were at the same age, but their homeownership rates still trailed behind compared to those of previous generations.

A growing number of millennials do not believe they will ever afford to own a home as they try to battle a confluence of adverse market conditions.

Redfin reports the median sale price of luxury homes rose 4.6% year-over-year in Q2, with prices being propped up by a lack of supply, which is fueling competition in many markets nationwide.

Climate change does not seem to be factoring into homebuyers' decisions on where they are purchasing homes according to Redfin, as nearly 400,000 more people moved into than out of the most flood-prone counties in 2021 and 2022—an increase of 103% over the two years prior.

A record low number of homes for sale have propped up prices, increasing the average home sales price to near record highs.

The first month of the typically hot summer buying season produced less than stellar available home numbers, falling over 7% to a new record low.

Boise, Idaho and Austin, Texas experienced the biggest drops in home prices as U.S. median home sale prices fell 4.1% across the board. Click through to see what that decline represents.

According to a new report from Redfin, home prices fell 3.3% in March, while pending home sales also dropped to their lowest level since the start of the pandemic.