Housing Market News
Affordability
Redfin Home Price Index: Price Growth Holds Steady at Start of Year
Home prices rose 0.5% month over month in January, on par with December’s gain, as the drop in mortgage rates at the end of last
Homebuyers on a $3,000 Monthly Budget Have Gained Nearly $40,000 in Purchasing Power Since Mortgage Rates Peaked Last Fall
Buyers can afford a more expensive home now that mortgage rates have dropped to 6.7%, down from nearly 8% in October. Redfin economists don’t expect
Redfin Home Price Index: Prices Rose 0.4% in December—the Smallest Increase in Six Months
High mortgage rates and an uptick in housing supply took some pressure off price growth, but prices aren’t falling because there’s still a shortage of
Gen Z’s Homeownership Rate Stagnated in 2023, But Millennials and Gen Xers Saw Gains
26% of adult Gen Zers owned a home in 2023, little changed from 2022. Meanwhile, the homeownership rate for millennials rose to 55% from 52%,
The Lock-in Effect: 89% of People With Mortgages Have an Interest Rate Below 6%, Down From a Record 93% in 2022
Most homeowners with mortgages have a rate below today’s average, prompting many to stay put. But the share of homeowners with relatively low rates has
16% of Home Listings Were Affordable for the Typical Household in 2023, Likely the Bottom for Housing Affordability
That’s the lowest share on record, down from 21% in 2022 and over 40% before the pandemic homebuying boom. White households had three times more
Affordability Improves Slightly For Veteran Homebuyers, But Most Homes Are Still Out of Reach
22% of U.S. home listings are affordable to the typical U.S. military veteran using a VA loan. Veterans–both those using VA loans and those using
Bay Area Housing Market Heats Up Amid AI Boom, Return to Office
Pending home sales jumped 17% year over year in San Francisco last month—more than any other major metro. The typical home also sold in roughly
Austin, TX Is America’s Strongest Buyer’s Market, With Over Twice as Many Home Sellers as Buyers
Nationwide, there are an estimated 37% more sellers than buyers—a near-record gap that’s giving buyers across the country negotiating power. There are seven metros where
Homebuyers Are Canceling Deals at a Record Rate. Here’s Why.
Roughly 56,000 U.S. home-purchase agreements were canceled in August, equal to 15.1% of homes that went under contract that month—the highest August percentage in records
Summer 2025 Was the Strongest Buyer’s Market in Records Dating Back Over a Decade
There were an estimated 506,000 more home sellers than buyers in August, meaning buyers held the negotiating power. But the tables could turn if falling
Wages Are Growing Faster Than Rents and Mortgage Payments
Wages are up 4.1% year over year, while asking rents are up 2.6% and mortgage-payment growth has slowed to roughly 0% amid declining mortgage rates
