All Redfin Reports
Home Prices Stagnate in Florida and Texas as Supply Soars
The number of homes for sale in Cape Coral, FL and North Port, FL surged roughly 50% from a year earlier in March—more than anywhere else in the country. And in McAllen, TX, supply jumped 25%. Housing supply is soaring because both states have been building a lot of homes, which is limiting home price
Housing Market Update: Buying a Home Costs More Than Ever, With Prices Hitting All-Time High and Mortgage Rates Rising
The median U.S. home price rose 5.2% year over year this week, and mortgage rates hit their highest level since November 2023. Prices continue to rise partly because there are still serious buyers searching for homes. The median U.S. home-sale price hit a record $383,725 during the four weeks ending April 21, up 5.2% from
Nearly 40% of Homeowners Couldn’t Afford Their Home If They Were to Buy It Today
Many U.S. homeowners couldn’t afford to buy their home if they were to purchase it today because home prices have doubled over the last decade, and monthly housing costs are at an all-time high due to elevated mortgage rates. Nearly two of every five (38%) homeowners don’t believe they could afford to buy their own
Redfin Home Price Index: Price Growth Stabilizes in March, With Prices Up 0.6% From a Month Earlier
Price growth is leveling off as elevated mortgage rates strain buyer budgets, but prices are still at historic highs because there aren’t enough homes for sale. U.S. home prices climbed 0.6% from a month earlier on a seasonally-adjusted basis in March, matching February’s 0.6% month-over-month gain. On a year-over-year basis, prices rose 7.3%, also little
The Typical U.S. Luxury Home Costs More Than Ever Before
Luxury home prices in the first quarter rose 9% year over year, twice as fast as non-luxury prices. Sales of luxury homes rose 2%, compared to a 4% decline in sales for non-luxury homes. Luxury sales are outperforming partly because elevated mortgage rates aren’t a deterrent for many luxury buyers, as a record 47% of
Housing Market Update: The Cost of Buying a Home Hits New Record As Mortgage Rates Jump, Prices Rise 5%
Daily average mortgage rates jumped to their highest level since last November after last week’s disappointing inflation report. Persistently high home prices are exacerbating affordability challenges for buyers. The average daily mortgage rate this week surpassed 7.4%, the highest level since last November, after a hotter-than-expected inflation report and the Fed’s confirmation that interest-rate cuts
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