Housing Market

New Construction

27% of For-Sale Homes Are Newly Built, the Lowest Share in 4 Years

That’s still well above pre-pandemic levels.  The pool of existing inventory is rising as more homeowners list and homes linger on the market. At the same time, some builders are refraining from starting new projects as they try to offload inventory.  House hunters who are interested in new construction may want to act now, while […]
Affordability

Bay Area Housing Market Heats Up Amid AI Boom, Return to Office

Pending home sales jumped 17% year over year in San Francisco last month—more than any other major metro. The typical home also sold in roughly 20 days—over twice as fast as the typical U.S. home. The housing market in the San Francisco Bay Area is picking up steam thanks to rising incomes, an AI boom […]
Affordability

Austin, TX Is America’s Strongest Buyer’s Market, With Over Twice as Many Home Sellers as Buyers

Nationwide, there are an estimated 37% more sellers than buyers—a near-record gap that’s giving buyers across the country negotiating power. There are seven metros where sellers outnumber buyers by at least 2-to-1, and all but one are in Texas or Florida.  There are five remaining seller’s markets, the strongest of which is Newark, NJ. Sale […]

Sellers Are Getting Ghosted: 15% of Homebuying Contracts Were Canceled in September

Housing costs are frightful and economic jitters are in the air, leading some buyers to leave sellers in the lurch. Just over 53,000 home-purchase agreements nationwide were canceled in September, equal to 15% of homes that went under contract that month. That’s up from 13.6% a year earlier.    This is based on a Redfin […]

U.S. Home Prices Rose 0.2% in September

U.S. home prices increased 0.2% from a month earlier in September on a seasonally adjusted basis. On a year-over-year basis, home prices rose 3%, the slowest rate recorded in Redfin Home Price Index (RHPI) data going back to 2012. San Diego (+1.7%) recorded the highest month-over-month price growth of the 50 most populous U.S. metros, […]
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