Housing Market News
Affordability
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
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
