Housing Market News
Affordability
Baby, You’re Expensive!
The average cost of a baby’s first year in the U.S. is about $26,000 if you upgrade your home, use daycare, have insurance and buy the things parents buy.
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
