Housing Market
All Reports
September 26, 2022
Sun Belt cities including Phoenix, Tampa and Las Vegas attracted scores of house hunters during the pandemic, driving up home prices. Now their housing markets are among the fastest-cooling in the nation, giving buyers the flexibility to bow out. Nationwide, roughly 64,000 home-purchase agreements fell through in August, equal to 15.2% of homes that went […]
September 23, 2022
Just over 4 in 10 Redfin home offers faced competition in August, down significantly from a year earlier as 6% mortgage rates price buyers out of the market. Nationwide, 44.6% of home offers written by Redfin agents faced competition on a seasonally adjusted basis in August, the lowest bidding-war rate since the beginning of the […]
September 22, 2022
Few people are choosing to buy homes with mortgage rates well above 6%; even fewer homeowners want to sell.
September 22, 2022
The decline was roughly twice as severe in the Bay Area. High-end homebuyers are backing off as rising interest rates, inflation, a tepid stock market and economic uncertainty make it less feasible to purchase luxury goods. Sales of luxury U.S. homes fell 28.1% year over year during the three months ending Aug. 31, 2022, the […]
September 21, 2022
Raising rates is necessary to fight inflation, but buyers may need to get creative to afford a home with high monthly mortgage payments. A homebuyer on a $3,000 monthly budget can afford a $479,750 home with today’s 6% mortgage rates, down from the $621,000 home they could have bought a year ago when 3% rates […]
