Nationwide, rents are nearing their all-time high, according to a new market report from Redfin, but rent gains have nevertheless cooled over the past year due to an increase in supply, as economic uncertainty and inflated home prices continue to deter buyers.
Read More »New Monthly Mortgage Payments Top $2,600
The median U.S. home-sale price is up 3.2% year over year, the biggest increase since November, and mortgage rates remain elevated.
Read More »Starter Homes: Not as Cheap as They Used to Be
According to Redfin, the typical starter home sold for an eye-watering record of $243,000 in June 2023, up 2.1% year-over-year and up 45% from before the pandemic.
Read More »Analyzing Climate Risk in the Home Search Process
According to Redfin, nearly half of U.S. residents who moved in the last year believe the frequency of weather events will likely impact home values in their area within the next 10 years.
Read More »Relocating Homebuyers Targeting Sin City
In a study on Q2 migration nationwide, Redfin reports the typical Las Vegas home costs less than half as much as one in Los Angeles, San Francisco, or Seattle.
Read More »Luxury Home Sale Prices Hit Record $1.2M Average in Q2
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.
Read More »Americans Are Still Moving to Risky, Disaster-Prone Areas
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.
Read More »Purchase Apps Down 21% YoY
High mortgage rates have pushed monthly mortgage payments to a record $2,656, as slightly lower rates may escalate competition for the limited number of homes available and push up prices for the foreseeable future.
Read More »Homes Changing Hands at Slowest Pace in a Decade
The pandemic homebuying blitz between 2020 and 2021 has lowered the number of home sales nationwide to a decade-low of 14 in every 1,000 homes.
Read More »Inventory Drops as Homes Sell for Near Record Highs
A record low number of homes for sale have propped up prices, increasing the average home sales price to near record highs.
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