All Redfin Reports
Housing Market Update: Pending Home Sales Drop 13% Year Over Year As Mortgage Rates Stay Stubbornly High
With monthly housing payments at an all-time high, would-be buyers are waiting for homes to become more affordable. But slightly more homeowners are listing their homes this month, providing a glimmer of hope for buyers who want more to choose from. What homebuyers are doing: Waiting for homes to become more affordable and for more
Fed Projects Rates Will Be Higher For Longer, Upping Chance of Elevated Mortgage Rates Into Next Year
The Fed increased projections for 2024 and 2025 rates at its September meeting, though it kept rates unchanged for now. That will likely keep mortgage rates higher for longer. The Federal Reserve held interest rates steady at its September meeting, as expected, and acknowledged that the U.S. job market is slowing down. But the Fed
Most Housing-Survey Respondents Support More Homebuilding, But Many Don’t Want a Complex in Their Neighborhood
Nearly 80% of respondents to a recent Redfin survey support policies that promote homebuilding. But just one-third of them would feel positive about a large new apartment complex built near their home. Nearly four of every five (78%) respondents to a recent Redfin survey support policies that promote building more housing. But just one-third (32%)
The UAW Strike Could Be a Drag on the U.S. Economy: Here’s the Good News and Bad News For the Housing Market
The United Auto Workers strike could hamper U.S. economic growth and potentially encourage the Fed to lower interest rates, which would bring down mortgage rates. But it could also increase car prices, pushing up inflation and motivating an interest-rate hike. The United Auto Workers strike is bigger and more disruptive than expected, and compared to
Home Purchases Fell Through at the Highest Rate in Nearly a Year in August
Some homebuyers got cold feet as mortgage rates hit the highest level in over two decades and prices continued to rise, but buyer demand and new listings have stabilized following months of declines. Residential real estate deals are falling through at the highest rate in almost a year as high mortgage rates give homebuyers sticker
Demand for Vacation Homes Sits Near 7-Year Low Due to High Housing Costs, Return-to-Office Mandates
Mortgage rate locks for second homes are down nearly 50% from pre-pandemic levels, compared to a 33% drop for primary homes. Mortgage-rate locks for second homes were down 47% from pre-pandemic levels on a seasonally adjusted basis in August, compared to a 33% decline for primary homes. August marks the 14th-straight month that second-home demand
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