All Redfin Reports
Redfin Welcomes February and March Agent Hires
Spring is officially here, and we’ve been busy welcoming some amazing agents and managers across the country to help us kick off a busy homebuying season. Please join me in recognizing all of the new folks who joined us in February and March! This crew is full of talented people, some brand new to Redfin
‘Til Death Do Us Part: More Than Three-Quarters of Baby Boomers Plan to Stay In Their Home As They Grow Older
Older Americans who own their home are staying put largely because they’re financially incentivized to do so. It’s contributing to the shortage of homes for sale. We asked baby boomers in a recent survey what they anticipate their living situation to be as they grow older. The most common response: staying right where they are.
The Typical Homebuyer’s Down Payment Is $56,000, Up 24% From a Year Ago
Over one-third of home purchases in February were made in all cash—not far from the record high. The median down payment for U.S. homebuyers was $55,640 in February. That’s up 24.1% from $44,850 a year earlier—the largest annual increase in percentage terms since April 2022. The typical homebuyer’s down payment last month was equal to
Housing Market Update: Rising Supply Draws in Some Buyers, Even as Housing Payments Soar 10% to All-Time High
There are more homes for buyers to choose from, with new listings posting their biggest uptick in nearly three years. The typical U.S. monthly housing payment hit an all-time high of $2,721 during the four weeks ending March 24, up 10% from a year earlier. Housing payments are at a record high because of the
First-Time Buyers Must Make $76,000 to Afford the Typical U.S. Starter Home–Up 8% From a Year Ago
Buyers must earn nearly twice as much as before the pandemic to afford the typical starter home, due to the one-two punch of high prices and mortgage rates. One sliver of hope: Affordability of starter homes is slowly improving after hitting a low point at the end of 2023. Homebuyers must earn $75,849 annually to
Nepo-Homebuyers: More Than One-Third of Gen Z and Millennial Homebuyers Plan to Use Family Money For Down Payment
Young Americans who have the means are turning to family for help with down payments as housing costs soar. Working a second job is also a popular way to save for a down payment, with 2 in 5 millennials and Gen Zers doing so. More than one-third (36%) of Gen Zers and millennials who plan
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