Housing Market News
Affordability
Redfin Home Price Index: Price Growth Slowed for Third Straight Month in November as Supply Crunch Eased
U.S. home prices rose 0.6% from a month earlier, the smallest increase since June, as a jump in homes for sale gave buyers more options. That’s according to the Redfin Home Price Index, which is similar to but more current than the Case-Shiller index. U.S. home-price growth slowed for the third straight month in November
2023 Has Been The Least Affordable Year for Homebuying on Record—But 2024 Is Looking Up
A homebuyer with the median U.S. income would’ve had to spend a record 41% of earnings on monthly housing costs in 2023, up from 39% in 2022 and 31% in 2021. The least affordable markets were Anaheim and San Francisco, where homebuyers with the typical local income would’ve needed to spend over 80% of their
Introducing the Redfin Home Price Index
Redfin’s new gauge of housing prices, which is similar to but more current than the Case-Shiller index, shows that home prices rose roughly 1% month over month in October. Today, Redfin is releasing a new tool that measures changes in U.S. home prices. The Redfin Home Price Index (RHPI) uses the repeat-sales pricing method to
More Than One-Third of Home Sellers Are Giving Concessions to Buyers
Sellers are handing out freebies to woo buyers, who have become increasingly likely to back out of deals as mortgage rates have climbed. Home sellers gave concessions to buyers in 35% of U.S. home sales during the three months ending Oct. 31, little changed from 35.9% one year earlier but up from 27.6% two years
Homebuyers Must Earn $115,000 to Afford the Typical U.S. Home. That’s About $40,000 More Than the Typical American Household Earns.
Sky-high mortgage rates and still-rising home prices have made it harder than ever to afford a home, especially for first-time buyers. The typical buyer needs to earn 15% more than they did a year ago–and wages are only up 5%. It’s harder than ever for Americans to afford a home. A homebuyer must earn $114,627
4 Ways to Buy Your First Home, Even as Affordability Worsens
Originally published to Forbes on September 12, 2023. For many young Americans, the dream of owning a home feels less like a middle-class milestone and more like a prize available only to those with family money or extraordinary incomes. The monthly mortgage payment on a median-priced home has increased 15% in the last year, while incomes
Redfin Home Price Index: Price Growth Slowed for Third Straight Month in November as Supply Crunch Eased
U.S. home prices rose 0.6% from a month earlier, the smallest increase since June, as a jump in homes for sale gave buyers more options. That’s according to the Redfin Home Price Index, which is similar to but more current than the Case-Shiller index. U.S. home-price growth slowed for the third straight month in November
2023 Has Been The Least Affordable Year for Homebuying on Record—But 2024 Is Looking Up
A homebuyer with the median U.S. income would’ve had to spend a record 41% of earnings on monthly housing costs in 2023, up from 39% in 2022 and 31% in 2021. The least affordable markets were Anaheim and San Francisco, where homebuyers with the typical local income would’ve needed to spend over 80% of their
Introducing the Redfin Home Price Index
Redfin’s new gauge of housing prices, which is similar to but more current than the Case-Shiller index, shows that home prices rose roughly 1% month over month in October. Today, Redfin is releasing a new tool that measures changes in U.S. home prices. The Redfin Home Price Index (RHPI) uses the repeat-sales pricing method to
More Than One-Third of Home Sellers Are Giving Concessions to Buyers
Sellers are handing out freebies to woo buyers, who have become increasingly likely to back out of deals as mortgage rates have climbed. Home sellers gave concessions to buyers in 35% of U.S. home sales during the three months ending Oct. 31, little changed from 35.9% one year earlier but up from 27.6% two years
Homebuyers Must Earn $115,000 to Afford the Typical U.S. Home. That’s About $40,000 More Than the Typical American Household Earns.
Sky-high mortgage rates and still-rising home prices have made it harder than ever to afford a home, especially for first-time buyers. The typical buyer needs to earn 15% more than they did a year ago–and wages are only up 5%. It’s harder than ever for Americans to afford a home. A homebuyer must earn $114,627
4 Ways to Buy Your First Home, Even as Affordability Worsens
Originally published to Forbes on September 12, 2023. For many young Americans, the dream of owning a home feels less like a middle-class milestone and more like a prize available only to those with family money or extraordinary incomes. The monthly mortgage payment on a median-priced home has increased 15% in the last year, while incomes
United States
Canada