Sales of high-end homes are outperforming as wealthy Americans take advantage of steady paychecks, remote work and low mortgage rates during the pandemic. Sales of luxury homes in the U.S. rose 41.6% year over year in the first quarter of 2021, far outpacing sales growth in every other segment of the housing market. By comparison, […]
With 42% of homebuyers paying more than list price and nearly two-thirds of offers facing bidding wars, it’s easy to get swept up in this frenzied housing market. As a homebuyer, it can be difficult to know when you are at risk of overpaying for a home or when to walk away. And it is […]
Home prices rose 17% from a year ago in March as days on market, share of homes sold above list, and average sale-to-list price ratio all marked new records.
Competition is escalating as Americans rush to lock down homes before back-to-school season this fall. Single-family homes are the most likely to attract bidding wars, but townhouses are catching up as priced-out buyers search for more affordable options. Nearly two-thirds (64.0%) of home offers written by Redfin agents in March faced competition, up from a […]