Housing Market
All Reports
October 1, 2024
54% of U.S. apartments that were completed in the first quarter rented within three months, up from 47% a quarter earlier. Newly-built studio apartments rented out faster than other bedroom types. One-bedroom and two-bedroom apartments rented out slower as completions climbed by more than 20%. More than half (54%) of newly constructed apartments completed in […]
September 30, 2024
Buyers need to earn $77,000 to afford the typical U.S. starter home, down 0.4% year over year. That’s the first annual decline since 2020 thanks to falling mortgage rates, which recently posted the first annual decline in three years. The typical household earns $84,000—9% more than they need to afford the typical starter home. Still, […]
September 30, 2024
Only 2.5% of U.S. homes changed hands in the first eight months of 2024. The rate of home sales and home listings are both down at least 30% from 2019. California metros lead the list of areas with the lowest turnover, while Sun Belt and New York commuter metros posted highest turnovers. Just 25 out […]
September 26, 2024
The asking rent for a new apartment fell to $1,746 in the second quarter, down 6.2% from a year ago. One-bedroom apartments fell the most, dropping 9% to $1,566. Asking rents dropped at the same time new apartment completions rose to the highest level in at least 12 years. Asking rents for newly constructed apartments […]
September 26, 2024
Mortgage-rate locks rose 68% from a month earlier in the days after the Fed announced its interest-rate cut, and Redfin’s Homebuyer Demand Index shot up to its highest level since May. Many house hunters had been waiting for the Fed’s cut before locking in a mortgage rate. News about last week’s interest-rate cut is starting […]
