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
In Detroit, a Family Needs to Earn $27,000 to Afford the Typical Home. In San Francisco, It’s More Than $265,000.
In San Francisco, a family needs to earn more than $265,000 to afford a median-priced home. See how other metros stack up.
Prices for the Most Affordable U.S. Homes Up 9% in June
But in San Jose and Orange County, two of the most expensive markets in the U.S., prices for the most affordable homes are falling.
One in 10 Millennial Homebuyers Say They’ll Rely on Parents for Mortgage Help, Down From 17% Last Year
In only eight months, millennial homebuyers plan to rely less on their family to afford their mortgage
Here’s How Many Affordable Homes Could Be Purchased For $238 Million–The Price of Most Expensive U.S. Home Ever Sold
A New York City penthouse broke records selling for $238M, which is equivalent to purchasing just about every single affordable house on the market in Deltona, Fl, or half of all homes on the market.
It’s Not All About Demand: Home Prices are Sky-High Where It’s Most Difficult and Most Expensive to Acquire and Develop Land
In expensive coastal metros like San Jose, the value of land accounts for more than half of the typical home’s value, far more than it does in inland areas.
Here are the Most (And Least) Affordable Metros for Getting Married and Buying a Home in the Same Year
If you’re torn between spending your wedding budget on a party or a down payment, our data compares the national average wedding cost with the median home list price and average down payments.
