Housing Market News
Affordability
Condo Prices Dropped 2% in May—the Second Largest Decline on Record
Condo prices fell amid increasing HOA fees and insurance costs. Single-family home prices, by comparison, rose 0.5%. Condo sales dropped 12%—more than three times as
6% of Today’s Home Sellers Are At Risk of Selling at a Loss. That’s Up From 4.4% a Year Ago, But Still Historically Low.
The risk of selling at a loss varies significantly in different parts of the country; nearly 20% of sellers are at risk of losing money
The U.S. Housing Market Has Nearly 500,000 More Sellers Than Buyers—the Most on Record. That Will Likely Cause Home Prices to Fall
There are 34% more sellers in the market than buyers. At no other point in records dating back to 2013 have sellers outnumbered buyers this
U.S. Home Prices Tick Down 0.1% in April, the First Monthly Drop Since 2022
U.S. home prices in April nudged down 0.1%, the first month-over-month decline since September 2022. Home prices rose 4.1% year over year—the smallest increase since
The Homes Americans are Buying are Older Than Ever
The typical home bought in the U.S. hit a record age of 36 years in 2024—up from 27 years in 2012. Buyers pay less for
Sending 2 Kids to Daycare Costs More Than Rent in Most Major U.S. Metros
In Denver and Seattle, families pay nearly as much for daycare as they do for rent–and they pay much more for daycare than rent if
Home Prices Keep Climbing, But at Slowest Pace Since Early 2023
Home prices grew 0.2% in June, the slowest pace since January 2023. Home price growth slowed in June for the fourth consecutive month. Falling mortgage
In Swing States, Typical Homebuyer’s Monthly Payment Has Nearly Doubled Since The Last Presidential Election
Swing-state housing payments have nearly doubled since the 2020 election, as home prices and mortgage rates have soared. To look at affordability another way, the
Falling Mortgage Rates, Rising Supply Create Opportunity for Homebuyers This Summer, Even Amid Record-High Prices
Homebuyers on a $3,000 monthly budget have gained over $20,000 in purchasing power since mortgage rates peaked in the spring. House hunters who have been
Renters Must Earn $66,120 to Afford the Typical U.S. Apartment. The Typical Renter Makes $11,000 Less Than That.
Just 39% of renters make enough to afford the median-priced apartment. The income renters need to afford the typical apartment is the highest since 2022
U.S. Home Prices Are Rising at the Slowest Pace in Nearly a Year and a Half
Home prices rose 0.3% in May. Price growth is slowing thanks to a small uptick in new listings as elevated mortgage rates keep buyers at
Housing Affordability Is Gen Z’s Top Voting Issue, Outweighing Abortion Rights and the Economy: Redfin Survey
Millennials, Gen Xers and baby boomers all ranked the overall economy as the top issue in their presidential pick. Preserving democracy was more likely than
