Housing Market
All Reports
November 1, 2024
New-construction homes are making up a smaller portion of total inventory as builders back off and more homeowners list their houses for sale. Newly built homes made up 28% of single-family homes for sale nationwide in the third quarter, the lowest level in three years. That’s down from 30.5% a year earlier and a record-high […]
October 31, 2024
Buyer’s agent commissions for closed home sales in October were 2.34% compared to 2.35% in August, when industry-wide changes were implemented following the NAR settlement. It’s too soon to say if the trend since August is a departure from the long-term trend of falling commissions. Commissions for homes listed under $500,000 have risen slightly since […]
October 31, 2024
Even with the impending presidential election and mortgage rates surpassing 7% for the first time since July, pending home sales posted their biggest increase in three years. But Redfin agents report some would-be homebuyers are pressing pause on starting their house hunt until the election passes. Mortgage rates rose to 7% for the first time […]
October 29, 2024
69% of millennial/Gen Z homeowners are better off than they were four years ago, compared with 52% of millennial/Gen Z renters, a Redfin survey found. Just 18% of millennial/Gen Z homeowners are worse off, compared with 26% of millennial/Gen Z renters. The gap between homeowners and renters in younger generations is much larger than the […]
October 29, 2024
Daily average mortgage rates have increased by nearly a whole percentage point since mid-September, bruising homebuyers’ budgets. The jump in rates comes just one week before a presidential election in which housing affordability is a top issue for voters. Mortgage rates hit 7% on October 28, the highest level since the start of summer and […]
