Housing Market News
Affordability
Homebuyers Hold the Negotiating Power In 38 Major Metros, Up From 29 Last Year
Nationally, sellers outnumber buyers by 43%—just shy of the largest gap in records dating back to 2013. When sellers outnumber buyers, the buyers who are
A Record 34% of February Home Sellers Cut Their List Price
February home sellers who cut their price lowered it by $41,000, on average, or 7.3%. Home sellers in Texas and Florida were most likely to
Cleveland Remains a Beacon of Affordability for Homebuyers
As many Americans consider buying a home this spring, they may want to take a closer look at the Cleveland metro area. Not only is
U.S. Home Prices Barely Budged in February
Home prices rose 0.1% month over month on a seasonally adjusted basis—the slowest growth in seven months. Prices fell in 16 major metros, with the
There Are 630,000 More Home Sellers Than Buyers—the Biggest Gap on Record
When sellers outnumber buyers, the buyers who are in the market have bargaining power. In other words, it’s a buyer’s market. The strongest buyer’s markets
The Top 20% of Earners Hold Nearly 60% of America’s Real Estate Wealth
By comparison, the bottom 20% of U.S. earners hold just 5% of real estate wealth. The top 1% of earners in America hold 12.7% of
California Fails the Affordability Test for Teachers
17 percent of California homes for sale are affordable on the average teacher salary
Affordability Is Homebuyers’ Biggest Concern, Particularly Among Millennials
A Redfin survey of more than 1,800 buyers revealed that many were driven to the market by high rent, even as homebuyers’ biggest concern was affordability.
Homebuyers’ Biggest Worries Are Cost and Competition
A Redfin survey finds that high prices, bidding wars, and an expensive rental market are top-of-mind for homebuyers this spring.
Mortgage Rates Are Low, So Why Aren’t Homes Affordable? The Conundrum of Cheap Money
It’s never been cheaper to borrow money. That’s made homeownership more affordable, but not nearly as much as you’d think.
Student Debt And Millennial Homeowners—Maybe They Can Live Together After All
The numbers challenge conventional wisdom that college grads with loans aren’t buying houses
One in Four Homebuyers Cites High Rent as Reason for Buying
One in four homebuyers is looking to purchase because their rent is too high, according to a Redfin survey of 750 homebuyers this month. That’s
