Housing Market News
Affordability
Home Purchases Are Getting Canceled at a Record Rate
15% of home purchases fell through last month—the highest July rate on record—as high homebuying costs made buyers skittish. Cancellations were most common in Texas
Milwaukee Is Holding Up Better Than Any Other Major U.S. Housing Market, Las Vegas is Cooling the Fastest
The majority of America’s most resilient housing markets are located in the Rust Belt and are seeing an increase in home sales and prices. The
Homebuying Affordability Is Improving in These 11 Places
The income needed to afford the typical U.S. home has fallen year over year in almost a dozen major metros, most of which are Sun
Mortgage Rates Drop to Lowest Level in 10 Months, Upping Purchasing Power in a Buyer-Friendly Market
Redfin economists say the recent dip in mortgage rates gives serious house hunters a window of opportunity to lock in a lower monthly housing payment.
Nepo-Homebuyers: Aside from Paychecks, Family Money Is the Most Common Source of Young People’s Down Payments
Nearly one-quarter of Gen Zers and millennials who recently bought a home used either a cash gift from family or an inheritance to help fund
Homebuyers Gain $16,000 in Purchasing Power As Mortgage Rates Dip to Lowest Level in 3 Months
The daily average mortgage rate dipped to 6.67% to start July, down from roughly 7.1% five weeks earlier. On-the-fence house hunters should consider jumping in
Just 13% of Homebuyers Say Stock Market Volatility From Coronavirus Has Impacted Their Ability to Buy
Declines felt more acutely in tech hubs like the Bay Area, where more than a quarter of homebuyers report volatility has impacted their ability to afford a down payment
The Most and Least Affordable Housing Markets for a Renter to Become a Homeowner
The typical renter household could afford half of the homes in only five of the nation’s largest markets in 2019
Mortgage Rates Driven to Historic Lows by the Coronavirus Amp Up Homebuyer Purchasing Power
A dramatic drop in mortgage interest rates, driven by coronavirus fears, has given homebuyers a big boost in purchasing power in recent weeks.
Homebuyers Flock to Four Cities for Affordable Land and Growing Salaries
Spokane, Las Vegas, Charlotte, and Orlando will be the hottest metros among affordability-seeking homebuyers in the coming decade As expensive coastal metros struggle to find
Survey: What Do First-Time Homebuyers Want From the Government? Lower Interest Rates
Lower interest rates beat out tax credits, easier lending standards, and increased home construction according to a new Redfin survey Interest rates are currently at
Survey: Homebuyers and Sellers Feel That Rising Home Prices Have Made Their Lives Worse
Nearly half of respondents said rising home prices over the past decade have made their life worse, while just 16% said rising home prices made
