Second-home buyers are out in full force as affluent Americans continue to work remotely from vacation destinations. The number of buyers who locked in mortgage rates for second homes soared 178% year over year in April, marking the 11th straight month of 80%-plus growth. The record increase should be taken in context: It is likely […]
Online searches for homes in suburbs and rural areas has increased since the first quarter of 2020 in most major U.S. metro areas, a piece of evidence that the pandemic has had a measurable impact on homebuyer preferences. In Charlotte, 58.4% of saved searches on Redfin.com were for homes in suburbs and rural areas—as opposed […]
New construction is taking up a bigger piece of the pie as low mortgage rates and surging homebuyer demand make homebuilding more attractive during the coronavirus pandemic. More than a quarter (25.7%) of single-family homes for sale in America during the first quarter were new-construction homes. That’s up from 20.4% a year earlier and represents […]
Prices of urban single-family homes are rising nearly 20% year over year, faster than any other type of home. But this year’s hot housing market doesn’t discriminate: Urban condo sales are up nearly 30% year over year, more than any other home type. Key takeaways from this analysis, which looks at the housing market divided […]