Housing Market News
Affordability
Redfin Survey: 1 in 5 Millennial Respondents Believe They’ll Never Own a Home
Roughly one in 10 Gen Z respondents believe they’ll never own a home. Affordability is the number-one barrier to homeownership for young Americans: About half
The Typical Teacher Can Afford Just 12% of Homes for Sale Near Their School, Down From 30% in 2019
In San Jose and San Diego, no homes for sale near the schools Redfin analyzed are affordable on the local teacher’s median salary. Just three
U.S. Housing Market Recovers the Nearly $3 Trillion It Lost, Hitting Record $47 Trillion in Total Value
The total worth of U.S. homes hit a record $47 trillion in June as a scarcity of houses for sale propped up values. Affordable markets
There Are Only Four Major U.S. Metro Areas Where It’s Cheaper to Buy a Home Than Rent
Buying is more affordable than renting in Detroit, Philadelphia, Cleveland and Houston. The largest homeownership premium is in the Bay Area, where it’s twice as
Roughly 1 in 4 Homes for Sale in Austin and Seattle Cost Less Than They Would Have a Year Ago
Some homebuyers in pandemic boomtowns and expensive coastal markets have lower monthly housing costs than they would have a year ago. That’s because home prices
Nearly Half of Home Sellers Are Making Concessions to Woo Buyers
Sellers are offering to cover the cost of repairs, mortgage-rate buydowns and closing costs as rising interest rates dampen homebuyer demand. Pandemic boomtowns and pricey
Homebuyers Must Earn Nearly $80,000 to Afford the Typical U.S. Starter Home, Just Shy of the All-Time High
Homebuyers need to earn roughly $80,000 to afford the median-priced starter home, up 4.4% from last summer and only about $500 below the all-time high.
The Typical Homebuyer’s Down Payment is a Record $67,500, Up 15% From a Year Ago
The typical homebuyer put down 18.6% of the purchase price, up from 15% a year ago. Nearly 3 in 5 homebuyers put down more than
6 of Every 7 People With Mortgages Have an Interest Rate Below 6%, But the Lock-In Effect Is Starting to Ease
The mortgage rate lock-in effect is prompting many homeowners to stay put, contributing to America’s housing shortage. But the lock-in effect is slowly easing because
Starter Homes Emerge as Bright Spot as Mortgage Rates Settle Near 15-Month Low
Pending starter home sales grew 10% in July year over year, while other price brackets fell. The median price for a U.S. starter home climbed
Condo HOA Fees Surge in Florida Amid Insurance Crisis
HOA dues are up more than 15% from a year ago in Tampa, Orlando and Fort Lauderdale, compared with a median gain of 6% across
U.S. Home Prices Tick Up 0.2% for the Second Month in a Row
Home prices grew 0.2% in July, equal to the slowest pace since January 2023. Twenty of the 50 most populous U.S. metros recorded a drop
