Housing Market
All Reports
December 15, 2022
Mortgage-purchase applications and Redfin’s Homebuyer Demand Index are both up by double digits since bottoming out earlier this fall, but demand is still much lower than it was a year ago. This week’s positive inflation news could lead to mortgage rates declining further and a gradual home-sale recovery early next year, even with the Fed […]
December 14, 2022
Recent homebuyers in certain places, like Sacramento and Phoenix, are at higher risk of falling underwater on their mortgage, while Florida homeowners are at even lower risk. Just 3.4% of U.S. homeowners who bought in the last two years would be underwater on their mortgage if home values were to fall 4% by the end […]
December 13, 2022
Rents are growing at half the pace they were in the summer and are expected to keep cooling, which should help bring down overall inflation. The median U.S. asking rent climbed 7.4% year over year to $2,007 in November, the smallest increase in 15 months and the sixth-consecutive month in which annual rent growth slowed. […]
December 8, 2022
Redfin’s Homebuyer Demand Index ticked up this week as steadily declining rates lured some buyers back in. But many would-be buyers are waiting for lower rates and prices, with the typical home’s time on market rising at its fastest annual pace on record and supply increasing. The total number of homes for sale increased 15% […]
December 6, 2022
We expect home sales to sink to their lowest level in more than a decade in 2023 as high mortgage rates keep housing costs up and prevent people from moving. High homeowner equity and a resilient job market will stave off a wave of foreclosures. Mortgage rates will take center stage in 2023, with high […]
