Housing Market News
Affordability
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
Moved By Fear: 18% of Home Hunters Say Safety/Crime is a Reason They’re Moving, 14% Cite Climate Risks
17.5% of respondents who plan to move in the next year cited a concern for safety/crime as one of the reasons why, while 13.7% cited
U.S. Home Prices Rose 0.5% in October, Marking a Year of Consistent Growth
Home prices grew 0.5% month over month in October, rising at the same pace as September. It was the 12th consecutive month with price growth
Most People Earning Under $50,000 Struggle to Afford Housing. Nearly One-Quarter of Them Have Skipped Meals to Make Their Payments.
Most U.S. residents who earn less than $50,000 struggle to afford their mortgage or rent payments, according to a recent Redfin-commissioned survey. Of those earning
Real Estate Agent Commissions Hold Steady Since New Industry Rules Were Implemented
Buyer’s agent commissions for closed home sales in October were 2.34% compared to 2.35% in August, when industry-wide changes were implemented following the NAR settlement.
Young Homeowners Are Much More Likely Than Young Renters to Say They’re Financially Better Off Than 4 Years Ago
69% of millennial/Gen Z homeowners are better off than they were four years ago, compared with 52% of millennial/Gen Z renters, a Redfin survey found.
Homebuyers Lose $33,000 in Purchasing Power in 6 Weeks As Mortgage Rates Hit 7%
Daily average mortgage rates have increased by nearly a whole percentage point since mid-September, bruising homebuyers’ budgets. The jump in rates comes just one week
