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Housing Market

Weekly Market Update

Pending Home Sales Hit Highest Level in Nearly 4 Years

More homebuyers jumped into the market as mortgage rates came down temporarily last week, but it’s still slower than past springs.  U.S. pending home sales hit their highest level since September 2022 during the four weeks ending May 3. They rose 7.7% year over year on a seasonally adjusted basis.  There are a few reasons […]

Nearly Half of Americans Oppose AI Data Centers in Their Neighborhoods, While 38% Support Them

Young Americans are more likely than older generations to support data centers in their backyards, according to a Redfin survey.  AI data centers face more pushback than other proposed building types in neighborhoods, namely new apartments and multi-use complexes.  AI data centers are viewed as controversial partly because some Americans believe they strain electricity and […]
Luxury Market

San Francisco’s Luxury Home Sales Jump 22% As Median Price Nears $7M

Luxury home sales are surging in San Francisco, the epicenter of the AI boom, pushing the median sale price to the highest March level on record.  Tight supply is another factor pushing up San Francisco’s luxury prices; active listings are down roughly 15% year over year.  San Francisco’s luxury housing market is greatly outperforming the […]
Monthly Market Update

Homebuying Demand Ticks Up, Mortgage Rates Tick Down

More homeowners are putting their houses on the market, with new listings increasing for the second week in a row after five straight months of declines.  U.S. pending home sales rose 2.7% year over year during the four weeks ending April 26, the biggest increase in six weeks. Mortgage-purchase applications have risen to their highest […]
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