February home sellers who cut their price lowered it by $41,000, on average, or 7.3%. Home sellers in Texas and Florida were most likely to make price cuts, while sellers in the Bay Area were least likely. More than one-third (34.2%) of February home sellers lowered their list price. That’s up from 31.5% a year […]
Easter weekend also sidelined many would-be buyers. The Iran war ceasefire announced Tuesday could ease mortgage rates. U.S. pending home sales fell 2.4% year over year during the four weeks ending April 5, the biggest decline in three months. Sales fell most in Providence, RI (-15.5%), Houston (-15.4%) and New York (-15.3%). They increased most […]
Empty-nest baby boomers own many more 3-bedroom-plus U.S. homes than younger families raising children, underscoring a mismatch between who has space and who needs it. Millennials with kids are facing both affordability and inventory challenges–but at the same time, baby boomers have little financial incentive to move–and there’s limited inventory of reasonably priced, small, one-story […]
The Iran war is a major factor pushing up mortgage rates. Some would-be buyers are backing off amid high costs and uncertainty stemming from the war. The median U.S. monthly mortgage payment is $2,742, up 0.4% year over year. While that’s a small increase, it’s the first in nearly six months. Housing payments are climbing […]
As many Americans consider buying a home this spring, they may want to take a closer look at the Cleveland metro area. Not only is it home to one of Redfin’s latest and most unique listings—the Cleveland Cavaliers’ Rocket Arena—it’s also one of the most affordable markets in the country. The typical Cleveland home sold […]
In dollar terms, there’s $347 billion worth of stale listings in the U.S., more than ever before for this time of year. That’s because there are hundreds of thousands more home sellers than buyers, leading to homes sitting on the market. Stale inventory is most common in Florida, and least common in the Bay Area. […]