Coronavirus Housing Market News
1 in 10 Home Sellers Are Moving Because They’re Being Called Back to the Office: Survey
Return-to-office mandates are forcing some people to choose between selling their home at a loss or losing their job. Roughly 20% of surveyed sellers say they’re moving due to safety/crime concerns, a desire to live somewhere more aligned with their social views and/or lower taxes. About 10% of respondents cite discrimination in their neighborhood and/or
Adam Wiener Is Leaving Redfin
Our CEO, Glenn Kelman, sent this email to all Redfin employees on August 29, 2023. Dear Redfin, Redfin’s president of real estate services, Adam Wiener, is leaving Redfin. He joined us in 2007 as a product manager for agent tools, then ran our partner program, analytics, marketing, a variety of new businesses, and, finally, Redfin
U.S. Homeowners Have Lost $2.3 Trillion in Value Since June Peak
The Bay Area housing market has lost more value in percentage terms than anywhere else in the country amid sluggish demand. Florida continues to see large gains. Home values are holding up better in the suburbs than in cities, which have seen an exodus of residents due to remote work. Millennials, who are now in
Home Delistings Hit Record High in November as Buyers and Sellers Retreated
Pandemic boomtowns including Sacramento, Austin and Phoenix saw the biggest jump in delistings as prohibitively high housing costs dampened buyer demand. A record 2% of U.S. homes for sale were delisted each week on average during the 12 weeks ending Nov. 20, compared with 1.6% one year earlier. The share has come down a touch
Pandemic Boomtowns Phoenix and Miami Have Among the Highest Inflation Rates in the U.S.
The inflation rate in Phoenix, which attracted scores of out-of-town homebuyers during the pandemic, is more than double the inflation rate in the Bay Area, which saw an exodus of residents. The four U.S. metropolitan areas with the highest inflation rates in the third quarter are migration hotspots. Phoenix, Atlanta, Tampa, FL and Miami experienced
Home Sales, Listings Plunge Over 20% in September—Most on Record Aside From Pandemic Start
Both buyers and sellers retreated in September as surging mortgage rates made moving more expensive. Still, home prices rose 8% year over year due to persistent tight supply and inflation. About 60,000 deals were called off, equal to 17% of homes that went under contract—the highest share on record aside from March 2020. A record
1 in 10 Home Sellers Are Moving Because They’re Being Called Back to the Office: Survey
Return-to-office mandates are forcing some people to choose between selling their home at a loss or losing their job. Roughly 20% of surveyed sellers say they’re moving due to safety/crime concerns, a desire to live somewhere more aligned with their social views and/or lower taxes. About 10% of respondents cite discrimination in their neighborhood and/or
Adam Wiener Is Leaving Redfin
Our CEO, Glenn Kelman, sent this email to all Redfin employees on August 29, 2023. Dear Redfin, Redfin’s president of real estate services, Adam Wiener, is leaving Redfin. He joined us in 2007 as a product manager for agent tools, then ran our partner program, analytics, marketing, a variety of new businesses, and, finally, Redfin
U.S. Homeowners Have Lost $2.3 Trillion in Value Since June Peak
The Bay Area housing market has lost more value in percentage terms than anywhere else in the country amid sluggish demand. Florida continues to see large gains. Home values are holding up better in the suburbs than in cities, which have seen an exodus of residents due to remote work. Millennials, who are now in
Home Delistings Hit Record High in November as Buyers and Sellers Retreated
Pandemic boomtowns including Sacramento, Austin and Phoenix saw the biggest jump in delistings as prohibitively high housing costs dampened buyer demand. A record 2% of U.S. homes for sale were delisted each week on average during the 12 weeks ending Nov. 20, compared with 1.6% one year earlier. The share has come down a touch
Pandemic Boomtowns Phoenix and Miami Have Among the Highest Inflation Rates in the U.S.
The inflation rate in Phoenix, which attracted scores of out-of-town homebuyers during the pandemic, is more than double the inflation rate in the Bay Area, which saw an exodus of residents. The four U.S. metropolitan areas with the highest inflation rates in the third quarter are migration hotspots. Phoenix, Atlanta, Tampa, FL and Miami experienced
Home Sales, Listings Plunge Over 20% in September—Most on Record Aside From Pandemic Start
Both buyers and sellers retreated in September as surging mortgage rates made moving more expensive. Still, home prices rose 8% year over year due to persistent tight supply and inflation. About 60,000 deals were called off, equal to 17% of homes that went under contract—the highest share on record aside from March 2020. A record