U.S. home prices are growing half as fast as they were at the end of last year. Nationwide, the median home-sale price rose 2.6% year over year during the four weeks ending April 13. That’s roughly the same as the increases we’ve seen over the past month, but down from 5% to 6% growth at […]
The typical home that went under contract in March sat on the market for 47 days. Homes sold over twice that fast during the pandemic homebuying frenzy. Homes are taking longer to sell because many are overpriced and demand is sluggish. Plus, sellers are competing with each other—the supply of homes for sale hit a […]
Half of last month’s most expensive home sales were in beachfront Florida, but an Oahu compound took the number-one spot. Hawaii was home to the most expensive home sale of March, with a beachfront estate on Oahu going for $65.8 million. Next came two properties that sold for $60 million apiece: a Miami Beach mansion […]
Americans need an annual income of $117,000 to afford the typical home for sale. That’s 82% more than they need for the typical rental, up from 73% more last year. The gap is widening because home prices are rising faster than rents. The gap is widening most in Salt Lake City and Austin, and shrinking […]
Pending home sales and mortgage applications improved a bit at the start of April. But since then, the back-and-forth on President Trump’s new tariff policy, rising mortgage rates and the increased odds of a recession have likely pushed down homebuying sentiment. The housing market is under pressure as prospective homebuyers and sellers navigate a rapidly […]
Homebuyers are more likely than renters to use stock investments to pay for housing, according to a Redfin survey. With stock values dropping, would-be homebuyers may back off as their bank accounts shrink and their confidence in the economy is shaken. One in five (20%) prospective homebuyers expect to sell stocks to help fund their […]