Pandemic-fueled migration to red and purple counties in key states has made them somewhat less white. Increasing diversity could swing some of those purple places blue in this year’s Senate midterms. But migration and shifts in racial makeup may fall short of counteracting the forces favoring Republicans this year. The Republican party is steadily gaining
Many prospective buyers and sellers have retreated to the sidelines as mortgage rates near 7% and home prices remain high, sending sales and new listings down, but some need to move now. Redfin’s economists advise on how to buy and sell in an uncertain economic landscape. Home sales and listings are pulling back even further
Home sales continue to decline and mortgage applications are at their lowest level in 25 years. U.S. housing market activity is continuing to slow down as mortgage rates sit at a 20-year high. Pending home sales and new listings both saw their biggest year-over-year drops since the start of the pandemic, dipping to levels roughly
As home prices fall fastest in cities and mortgage rates rise, the value of a square foot in the suburbs has caught up with that of urban centers. Price per square foot has declined 6% in urban parts of San Francisco, the biggest dip in the U.S. Overall, it has dropped in nine of the
Housing-market activity is plunging further this fall than it did over the summer as mortgage rates near 7% and the topsy-turvy economy deters would-be buyers and sellers. Price drops have reached a record high, and home sales and new listings are dropping. The housing market is taking a second hit this month as increasing economic
The combination of skyrocketing home prices and intense competition prompted many buyers to up their down payments during the pandemic. But as the housing market cools amid high mortgage rates and economic uncertainty–and buyers can no longer afford as much as they used to–down payments are falling from their peak. The typical U.S. homebuyer who
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