Homebuyers who relocated to Austin during the pandemic paid an average of 7.8% above asking price, versus 3.7% above asking price for locals. This Redfin report analyzes the difference in homebuying finances between out-of-towners and locals in 11 popular migration destinations. The typical homebuyer moving to Austin from out of town buys a more expensive
Condos are selling above asking price for the first time in at least nine years, and the typical condo is selling in a record 22 days. The typical condo in the U.S. sold above its asking price in June for just the second time since at least 2012. The first time was in May, signaling
Phoenix, Las Vegas and Sacramento are among the most popular destinations as remote work allows people the freedom to move from expensive job centers to more affordable areas. Nationwide, 31.1% of Redfin.com users looked to move to a different metro in the second quarter, up from 27.6% during the same time period last year. Movement
Mortgage-rate locks for second homes fell 11% year over year in June after a year of double- and triple-digit increases. The number of buyers who locked in mortgage rates to purchase a second home nationwide fell 11.1% year over year in June, a reversal from the yearlong surge in demand for vacation homes driven by
More than half of Hispanic homeowners have lived with family without paying rent to help make housing payments, versus 38% of white homeowners. That familial support is one reason for the rising Hispanic homeownership rate. Hispanic homeowners in the U.S. are more likely than people of other races or ethnicities to receive financial help making
Home prices in car-dependent areas are up 33% since before the pandemic versus 16% for transit-accessible neighborhoods, reflecting the rise in remote work and the declining importance of proximity to public transportation. Home prices in car-dependent areas have risen twice as fast as those in transit-accessible areas since the start of the pandemic. The median
