Housing Market News
Affordability
A Record 8% of U.S. Homes Are Worth At Least $1 Million
That’s nearly double the pre-pandemic share. The biggest jump was in Anaheim, where 55% of homes were worth $1 million or more in February, up
Homebuyers on a $2,000 Monthly Budget Stand to Lose $13,750 in Spending Power as Mortgage Rates Rise
Redfin economists predict mortgage rates will hit 3.9% by the end of the year. At that level, homebuyers could afford a $382,250 home on $2,000
The Value of Austin’s Housing Market Surged Nearly 40% in the Past Year—Twice as Fast as the U.S.
The total value of U.S. homes soared 19% year over year to $39 trillion in December, the largest gain that month since at least the
12% of First-Time Homebuyers Say Selling Crypto Helped Save for Down Payment, Up From 5% in 2019
Digital currencies are becoming an increasingly common payment method as millennials rush the housing market. One in nine first-time homebuyers (11.6%) surveyed in the fourth
Nearly Half of House Hunters Would Feel More Urgency to Buy If Mortgage Rates Passed 3.5%: Survey
Rising rates will likely drive up housing-market competition in the short term.
Supply of Affordable Homes Posts Record Gain as Mortgage Forbearance Ends
In the luxury market, demand remains strong but has cooled from its pandemic peak as a return to normalcy has affluent Americans spending their savings
The Typical Buyer’s Down Payment Is 16% of the Home’s Price
That’s up from 15% a year ago. The typical U.S. homebuyer now puts down roughly $63,000, about $4,000 more than last year, because of a
Mortgage Rates Drop to Their Lowest Level in 2 Months, Upping Purchasing Power and Giving Homebuyers Window of Opportunity
The increase in purchasing power is modest, but along with a pileup of housing supply in some parts of the country, it marks an opportunity
U.S. Housing Market Gained $2.5 Trillion in Value in 2024
The combined value of U.S. homes climbed to $49.7 trillion in 2024. The total value of homes owned by millennials grew to nearly $10 trillion,
It’s a Buyer’s Market. For Many Homebuyers, It Doesn’t Feel Like It.
There were 3.7 months of for-sale supply on the market in January, the most in six years. An increase in supply and drop in homebuying
U.S. Home Prices Grew 0.6% in January
Home prices grew 0.6% month over month in January, equal to the quickest pace since November 2023. On a year-over-year basis, home prices rose 5.4%—the
The Typical Homebuyer Pays Roughly 2% Less than the List Price–The Biggest Discount in 2 Years
Homebuyers, take note: Many listings are selling for under asking price, and most are lingering on the market. Florida homebuyers are seeing the biggest discount.
