Housing Market
All Reports
February 1, 2024
New construction has taken up a growing share of the for-sale housing pie because homebuilding has increased and the number of individual homeowners selling has decreased. Builders are offering sizable discounts to attract buyers and offload inventory, but they’ve also boosted prices. Nationwide, 31.8% of U.S. single-family homes for sale in the fourth quarter were […]
February 1, 2024
Redfin’s Homebuyer Demand Index, which measures requests for home tours and other services from Redfin agents, is ticking up as the spring home-selling season draws nearer. That hasn’t yet converted to a meaningful improvement in pending sales–but Redfin agents expect it will in the next few months. Some house hunters are dipping their toes back […]
January 31, 2024
Prices of luxury homes rose at twice the pace of non-luxury homes at the end of 2023, partly because elevated mortgage rates are irrelevant to many affluent buyers. Low inventory is another factor driving prices up: Even though luxury new listings rose, overall supply is still below pre-pandemic norms. The typical U.S. luxury home […]
January 29, 2024
Buyers can afford a more expensive home now that mortgage rates have dropped to 6.7%, down from nearly 8% in October. Redfin economists don’t expect rates to rise or decline significantly in the foreseeable future. A homebuyer on a $3,000 monthly budget can afford a $453,000 home with a 6.7% mortgage rate, roughly this week’s […]
January 25, 2024
Redfin agents in areas affected by inclement weather report slow homebuying activity, but agents in warmer locales say buyers and sellers are active as mortgage rates stay in the high-6% range, down from 8% a few months ago. The median U.S. home-sale price rose 5.1% during the four weeks ending January 21, the biggest increase […]
