According to a new report, the share of Redfin users moving away from their home metro is nearing a record high as 6%-plus mortgage rates and inflation continue to cut into homebuyers' budgets.
Read More »Study: Miami Is America’s Most Competitive Rental Market
A new report from RentCafe showed Miami was 2022’s hottest U.S. market as two-thirds of renters renewed their lease. Here are the latest findings.
Read More »Fed Raises Interest Rate to 15-Year High
FOMC raises the borrowing rate half a percentage point, capping a series of four consecutive three-quarter-point hikes.
Read More »No Housing Market Relief in Sight for Aspiring Homeowners
According to Realtor.com's 2023 Housing Forecast, homebuyers will face home price increases throughout the nation’s 100 largest U.S. markets in 2023. However, those who can afford to purchase a home will find more available inventory than in 2021.
Read More »October Pending Home Sales Took Biggest Monthly Tumble Since 2013
As housing deal cancellations and home price cuts hit record highs, new data from Redfin's latest market analysis showed pending sales dropped 32% year-over-year in October, marking the largest decline since 2013.
Read More »Gen Z: Economic State Making it Harder to Save
A new study from Bank of America revealed 73% of Gen Z reported that the current economic environment has made it more challenging to save. Many respondents said inflation has created even more financial stress, while surging rents or home prices have made it harder to afford day-to-day necessities.
Read More »Mortgage Rates Post Biggest Drop in 40 Years
According to Redfin’s most recent Housing Market Report, mortgage rates dropped from over 7% last week to 6.6% this week on better-than-expected inflation numbers.
Read More »Rental Relief: Rents Grow at Slowest Pace in 18 Months
Despite the decline in rental costs nationwide, affordability remains a concern among most tenants.
Read More »Fixed-Rate Mortgages Take 47-Basis Point Dive
With news that inflation may have peaked, Freddie Mac reports that the fixed-rate mortgage fell below the 7% mark, leading to a slight rise in overall mortgage app volume for the week.
Read More »Rent Growth Slows; Still Up 8% YoY
October marked the second month of single-digit rent growth following a year of double-digit gains, and the fifth month in which annual rent growth decelerated.
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