Since mortgage rates hit nearly 8% last October, Redfin has found that homebuyers on a $3,000 monthly budget have gained significant purchase power since that time.
Read More »Home Affordability Got a Boost in Time for Christmas
“Homebuyer affordability improved for the second consecutive month in December as interest rates declined significantly from recent highs,” said Edward Seiler, MBA’s Associate VP of Housing Economics and Executive Director for the Research Institute for Housing America. Here’s what to expect as we approach spring.
Read More »Inclement Weather Impacting U.S. Homebuying Activity
As inventory remains alarmingly low, home prices are also rising in parts of the U.S., with some potential buyers being hampered by harsh weather. But in a new report, Redfin agents say that “serious buyers are finding a way to see desirable homes,” and demand is picking up in warmer regions.
Read More »Uptick in Purchase Apps as Rates Fall to 11-Month Low
As mortgage rates dropped toward levels last reported in May 2023, the MBA reported a rise in purchase application activity, led by both Conventional and FHA purchase apps.
Read More »December Posts Third Consecutive Month of Slowing Price Growth
Redfin’s Home Price Index reveals that home price growth has stalled as U.S. housing supply remains below pre-pandemic levels. Read on to learn why buyers have been left “grappling with limited purchasing power."
Read More »Housing Supply Up; Active Listings Up MoM
“We’re definitely seeing an uptick in activity from both buyers and sellers,” said Abby Alwan, a Redfin Premier real estate agent in Austin. A new report breaks down the shifts currently happening in the housing market.
Read More »Affordability, Inventory Still Weighing on Gen Z
“Housing affordability remains strained, but things are looking up for Gen Z,” said Redfin Chief Economist Daryl Fairweather.
Read More »Empty-Nest Baby Boomers Own the Largest Share of Big Homes
While millennials outpace baby boomers in population, the older generation owns a bigger share of large homes throughout the U.S., according to a new Redfin report. Here are the factors keeping empty nesters in those larger homes—and those homes off the market.
Read More »Life Happens: Homeowners Finally Letting Go of Ultra-Low Rates
“I’m working with a lot of homeowners who are selling because of things like divorces, new jobs, or deaths in the family,” said David Palmer, a Redfin Premier real estate agent in Seattle.
Read More »Mortgage Payments Dip as Lock-In Effect Eases
More home sellers are listing their homes in the New Year, according to a new Redfin report, as mortgage applications tick upwards from last year’s levels while monthly housing payments decline from their all-time high recorded in October 2023.
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