A higher share of Americans struggle to afford housing than last spring, according to a Redfin survey. The most common sacrifices Americans make to afford housing are eating out less and skipping vacations. Some respondents are also delaying medical treatments to make rent or mortgage payments. Zooming in on Gen Zers, they make sacrifices including […]
Along with more purchasing power, house hunters have negotiating power as sellers greatly outnumber buyers. The daily average mortgage rate dropped to 5.99% on February 23, the lowest level since September 2022, except for a few hours on January 9 when rates fell to the same level. A buyer on a $3,000 monthly budget can […]
There are 600,000 more home sellers than buyers, giving the buyers who are in the market negotiating power. Only five metro areas are seller’s markets, most of which are located in the Northeast. The South and West are home to the strongest buyer’s markets. There were an estimated 44% more home sellers than buyers in […]
Pending home sales fell to the lowest level since 2023 and existing-home sales dropped the most since 2022 as elevated housing costs curbed homebuyer demand. Sellers also retreated, but still far outnumbered buyers, meaning the buyers who were in the market could negotiate on price. The typical home that went under contract did so in […]
The typical home is taking 67 days to go under contract, the longest span in seven years. U.S pending home sales fell 5.8% from a year earlier during the four weeks ending February 15, the biggest decline in a year. The typical home that does go under contract is taking 67 days to do so–a […]
Last month’s ultra high-end home sales also included a ranch in Aspen and a beachfront villa in Hawaii. A waterfront estate in Naples, FL was the most expensive home sale of January, fetching $55 million. It’s followed by an Aspen, CO ranch that brought in $42 million, and a Hawaiian beachfront estate on the Big […]