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 »Metros Struck by Hurricane Ian Showing Home Sales Resiliency
Redfin reports that home listings and home sales have bounced back in Florida towns hit by Hurricane Ian last fall, a storm that caused between $41 billion and $70 billion in damage to the area.
Read More »Scarce Housing Inventory Ignites Bidding Wars
“The lack of supply is making it feel almost like 2021 all over again, but higher rates mean bidding wars are happening more in the $500,000 range than the $700,000 range because people can afford less,” said Redfin Agent Jeremy Lucas.
Read More »Home Prices Remain Elevated, But Selling for $4,000 Less
As the total number of homes for sale declined 11% from a year earlier, a new report from Redfin revealed the typical U.S. home is now selling for an estimated $4,000 less than last year’s all-time high, while new listings fell nearly 30% from 2022.
Read More »‘Hot’ Spring Homebuying Season Doesn’t Live Up to Expectations
Spring is typically a busy homebuying season, but new listings of homes for sale are down 24% from a year ago, according to a new report from Redfin. The total number of homes for sale is also down nearly 10%, representing the biggest drop in over a year.
Read More »Summer Buying Frenzy? Data Says Otherwise
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.
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 »Typical Asking Rents Experience Largest Drop Since 2020
In May, nationwide rents posted their largest decline since 2020 as the median asking rent rose 1.4% from a month earlier, according to a new report from Redfin.
Read More »New Listings Reach Lowest Level of Any Early June on Record
The overall lack of new listings nationwide has pushed the total number of homes on the market down 5% year-over-year, reaching their lowest level of any early June on record, according to a new housing market update from Redfin.
Read More »All-Cash Home Purchases Hit Highest Level Since 2014
In April, all-cash home purchases reached their highest level in nearly a decade. A new report from Redfin reveals elevated mortgage rates driving down overall home sales more than all-cash sales.
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