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
U.S. Home Prices Continue Their Ascent, Even as High Costs Deter Homebuyers
Home prices grew 0.5% in April, the sixth consecutive month of similar increases. Elevated mortgage rates are curbing homebuyer demand, but prices continue to tick
Low-Income Americans Have Lost the Homebuying Progress They Made During the Pandemic
Roughly 1 in 5 new mortgages went to low-income homebuyers in 2023, down from 23% in 2020. Meanwhile, high-income buyers have gained share because they’re
Nearly 40% of Homeowners Couldn’t Afford Their Home If They Were to Buy It Today
Many U.S. homeowners couldn’t afford to buy their home if they were to purchase it today because home prices have doubled over the last decade,
Redfin Home Price Index: Price Growth Stabilizes in March, With Prices Up 0.6% From a Month Earlier
Price growth is leveling off as elevated mortgage rates strain buyer budgets, but prices are still at historic highs because there aren’t enough homes for
Nearly 40% of Renters Think They’ll Never Own a Home, Up From 27% Last Year
Rising home prices and mortgage rates are making it harder to believe in the American dream of homeownership. Lack of affordability is the most commonly
Skipping Meals and Working Overtime: The Sacrifices Americans Make to Afford Housing
Half of homeowners and renters struggle to afford their housing payments, a recent Redfin survey found. Roughly 1 in 5 people who struggle to afford
