Four of last month’s 10 most expensive home sales were in Southern California, five were in coastal Florida and one was on Martha’s Vineyard. A Los Angeles estate known as the “Spelling Manor,” after its former owner–producer Aaron Spelling–was the most expensive home sale of July, bringing in $110 million. The next-most expensive sale was […]
Personal safety is the number-one must-have on homebuyers’ checklists, though 22% say they’re willing to compromise on it for affordability. The next-most important priorities are a low crime rate and low risk of natural disasters. Roughly one in five (22%) homebuyers are willing to compromise personal safety to afford a home, according to a recent […]
The average U.S. buyer’s agent commission rose to 2.43% in the second quarter from 2.38% a year earlier. Commissions rose across all price tiers, with the average buyer’s commission for homes under $500,000 reaching the highest level in nearly two years. The average U.S. buyer’s agent commission was 2.43% for homes sold in the second […]
Redfin economists say serious homebuyers have a window of opportunity to lock in a mortgage rate, as rates could fluctuate as more economic data is released in the coming weeks. House hunters got some relief this week as the daily average mortgage rate dropped to its lowest level in nearly a year after a softer-than-expected […]
The majority of America’s most resilient housing markets are located in the Rust Belt and are seeing an increase in home sales and prices. The fastest-cooling U.S. markets are concentrated in Sun Belt states, where soaring inventory is causing prices to fall in some places. The U.S. housing market has been losing steam due to […]
The income needed to afford the typical U.S. home has fallen year over year in almost a dozen major metros, most of which are Sun Belt boomtowns that have seen a drop in home prices amid surging inventory. Nationwide, the typical homebuyer needs to earn $112,131 per year to afford the median priced home—roughly $25,000 […]