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Housing Market

The Typical Income of a Boise Homebuyer is 24% Higher Than Before the Pandemic

Homebuyer incomes soared in pandemic boomtowns like Boise, Austin and parts of Florida, largely due to remote workers moving in from pricey job centers. Housing markets in many of those places are now slowing down. The typical Boise homebuyer earned $98,000 in 2021, up 24.1% from 2019. That’s the biggest homebuyer income increase of the […]

Newcomers to Philadelphia Have Nearly 40% More to Spend on Homes Than Locals

Out-of-towners have bigger budgets than locals in relatively affordable destinations like Philadelphia, Atlanta and Dallas because many are remote workers moving in from more expensive places, often with high hometown salaries and proceeds from a home sale. The average out-of-towner moving to Philadelphia in the first half of 2022 had $588,000 to spend on a […]
Bidding Wars

Homebuyer Competition Drops to Lowest Level in Over Two Years

The bidding-war rate dipped below 50% for the first time since the start of the pandemic in June as rising mortgage rates and inflation took a bite out of homebuyer budgets. Nationwide, 49.9% of home offers written by Redfin agents faced competition on a seasonally adjusted basis in June. That’s the lowest share since May […]
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