Housing Market News
Affordability
There Are Now Only 5 Major Metros Where A Typical Luxury Home Costs Less Than $1 Million
The number of major metros where you can buy a luxury home for less than $1 million is down to five from eight last year.
The Income Needed to Afford a Home Declined For Seventh Straight Month in April
Homebuying affordability improved slightly in April because mortgage rates declined while incomes rose. Still, the income required to afford a home was $29,000 higher than
U.S. Home Prices Rose 0.2% in April
Improving homebuyer demand could fuel further price gains in the coming months. Montgomery County, PA saw the biggest price gain, followed by Cleveland and Nassau
America’s Housing Market Favors Buyers—But Their Advantage Is Finally Starting to Shrink
There were an estimated 47% more sellers than buyers in April, down from 48% the month before and a peak of 49% at the end
Bay Area Luxury Home Prices Have Jumped 13% Since Launch of ChatGPT
Home prices during the AI boom have surged far faster in the Bay Area’s luxury zip codes than its non luxury zip codes—a split not
Room to Grow: Here’s Where Gen Zers Own the Largest Share of 3+ Bedroom Homes
Salt Lake City is the U.S. metro where Gen Z adults own the highest share (3.6%) of homes with three or more bedrooms. Virginia Beach,
The Five Most Affordable Places for Teachers to Buy a Home Are All in California
Merced, CA—an agricultural hub hit hard by the Great Recession—topped the list of U.S. metro areas where teachers had relatively high disposable incomes in 2020.
How to Avoid Overpaying for a Home
With 42% of homebuyers paying more than list price and nearly two-thirds of offers facing bidding wars, it’s easy to get swept up in this
The Trials of a 2021 Homebuyer: More Money, More Competition and More Home Tours
A red-hot real estate market has forced house hunters to step up their game. Buyers are making bigger down payments, offering above asking prices, waiving
Jacksonville, Austin and Charlotte Led 13% Surge In Total U.S. Housing Market Value During Pandemic
The housing market has gained $4 trillion in value in the past year as cash-rich Americans have transferred their wealth from major hubs like San
Homebuyers on a $2,500 Monthly Budget Stand to Lose $23,250 in Spending Power as Mortgage Rates Rise from Record Lows
Forty-four percent of respondents to a recent Redfin survey said mortgage rates rising above 3.5% would have no impact on their homebuying plans. A homebuyer
Half of Homes In Seattle and Washington, D.C. Are In Economically Integrated Neighborhoods—a Bigger Share Than Other Major U.S. Cities
The two cities have relatively large proportions of households located in neighborhoods with about equal numbers of high-end and affordable homes—a dynamic that can promote
