A record 25% of Redfin.com home searchers looked to move to a different U.S. metro in January, many in search of relatively affordable housing. Miami, Sacramento and Las Vegas were the most popular destinations. A record one-quarter (24.9%) of Redfin.com users nationwide looked to move to a different metro area in January as remote work
As mortgage rates rise, serious homebuyers are scarce. But plenty of people are searching for homes online and touring them, waiting until rates decline to buy. The median U.S. home-sale price was $348,000 during the four weeks ending February 19, essentially unchanged (+0.1%) year over year. That’s the first time since at least 2015, when
Redfin’s Homebuyer Demand Index is down slightly from last month as somewhat disappointing inflation and jobs reports cause mortgage rates to increase. But demand is still up from its November trough and pending home sales continue improving. Some homebuyers are retreating back to the sidelines as mortgage rates ascend toward 7%. Redfin’s Homebuyer Demand Index–a
Just over 31% of home purchases in December were made in cash, down slightly from the eight-year high hit in November. More than 15% of homebuyers taking out a mortgage used an FHA loan in December, the highest share since May 2020, as buyers gain negotiating power in the cool market. Roughly 7% of mortgaged
Pending sales and new listings each posted their smallest declines since September. Homebuyer demand continues to increase from its fall low point despite mortgage rates ticking up this week. Seller activity is also picking up. Pending home sales posted their smallest decline since September during the four weeks ending February 5, falling 20% from a
Young adults taking on a new lease are getting some relief as rental price growth slows, helping cool their personal inflation rates. Gen Z and millennial renters have lower personal inflation rates than the overall U.S. population for the first time since the end of 2020. Gen Zers and millennials who signed a new lease
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