Housing Market News
Affordability
Americans Have Gained $2 Trillion in Home Value During the Coronavirus Pandemic
The value of homes in the U.S. has surged 6.7% to $31.4 trillion since February despite skyrocketing unemployment triggered by the pandemic—further widening the wealth
In Areas at High Risk for Wildfires, Relative Affordability Lures Homebuyers
In the past eight years, the price difference between low-risk and high-risk areas has flipped—from a 2.5% premium in high-risk areas in 2012 to a
Condo Prices Climb 5.4% in August, Lagging 11.9% Growth for Single-Family Homes
Condos are facing relatively slow price growth as remote work, the desire for privacy and record-low mortgage rates make single-family homes more desirable during the coronavirus pandemic. But condos could make a comeback if single-family home prices continue to surge.
America’s Housing Shortage Is Intensifying During the Pandemic—Especially in Relatively Affordable Places Like San Antonio and Baltimore
Relatively affordable places including San Antonio and Baltimore have seen housing supply plummet, while San Francisco has experienced a flood of homes for sale as Americans flee dense, expensive cities
Homebuyers on a $2,500 Monthly Budget Can Afford $33,000 More With Low Mortgage Rates, But Higher Home Prices Cancel Out Increase
Historically low rates are motivating homebuyers even though prices were up 8.2% year over year in July, effectively cancelling out the increase in purchasing power.
A Quarter of San Francisco Home Sellers Are Dropping Their Prices, the Highest Rate on Record
San Francisco has seen a greater increase in price drops than any other U.S. metro, with the share of sellers slashing prices more than doubling from a year ago as the pandemic drives homebuyers out of the Bay Area.
Virginia Beach, Memphis and Indianapolis are the Most Affordable Housing Markets for Veterans
Redfin finds that across 45 major metros, 9% of homes for sale are affordable for veterans, down from 27% in 2012.
Here’s the #1 Reason It’s so Hard to Find an Affordable Home
Under building of new homes and high construction cost perpetuate the affordable housing shortage.
Priced Out: The Housing Affordability Gap in America’s Largest Metros
African-American and Hispanic families are losing ground in owning homes faster than other racial groups.
Mapping FHA Loans Shows Where Cities Need More Housing
In the hottest job markets, federal loan programs aren’t helping people land homes in the areas that are closest to the best jobs. Federal Housing
Despite Declining Affordability, Homeownership Remains Within Reach for Teachers in Many Parts of the Country
Affordable housing for U.S. teachers has declined in 32 major metros from 2012 to 2016. But homeownership is still possible in some locations.
Hope is on the Horizon for Millennial Homebuyers as the Market Eases
Millennial homebuyers have good reason to be optimistic about homeownership, according to Redfin agents
