Tag Archives: housing trends

Monthly housing payments have reached a record-high of $2,614, as mortgage rates climbed to 7.12%, pricing out many homebuyers with tight budgets, according to Redfin.

"Although a lot of homebuyers have acclimated to rates in the 6% range and many are finding ways to lower their monthly payments, like using a 2-1 buydown, high rates are handcuffing potential sellers,” said Redfin Deputy Chief Economist Taylor Marr.

The share of U.S. homes worth at least $1 million slipped to 7% from 8.6% in June, according to a new report from Redfin, as inflated mortgage rates continue to cool the housing market.

According to a new report from Redfin, home prices declined in February as home sellers responded to a decline in homebuyer demand spurred by elevated mortgage rates.

According to a new Redfin report, the Bay Area housing market lost more value in percentage terms than anywhere else in the country as demand waned, while Florida continued to see large gains.

As mortgage rates climb toward 7%, the decline in new listings of homes for sale has slowed since December. A new Redfin report examines why many homebuyers continue to pull back from their home search.

The share of families living in apartments has reached the highest level in half a century, as a new RentCafe study shows more of those who could purchase a home are choosing instead to rent.

New Fannie Mae data revealed the pandemic prompted many first-time homebuyers to move from smaller housing units in high-density cities to larger homes in lower-density areas, fueling a rise in home sales and lowering the number of days homes sit on the market.

The typical asking price slowed to a single-digit pace for the first time since December 2021, according to the Realtor.com Monthly Housing Trends Report, marking a significant slowdown from the peak 18% year-over-year pace seen in 2022.

An uptick in mortgage rates in November caused sales and prices to slow, but experts say there are early signs that housing demand may be creeping back around.