Dana Anderson, Author at Redfin Real Estate News

Pandemic Homebuying Hotspots With Steep Price Increases Most Susceptible to Housing Downturn in a Recession

July 26, 2022

Riverside, Boise, Phoenix and Tampa are among the markets where homeowners stand to lose some of the value they gained over the past two years. Still-affordable Rust Belt metros like Cleveland and Buffalo are most resilient. Popular migration destinations where home prices soared during the pandemic–including Boise, ID, Phoenix and Tampa, FL–are most likely to

Migration Hotspots Have the Highest Inflation Rates

July 19, 2022

Phoenix, Atlanta, Tampa and Miami, all Sun Belt metros popular with relocating homebuyers, have the highest inflation rates in the country. Housing prices make up a big portion of the rising costs in those places. The most popular destinations for relocating homebuyers have the highest inflation rates in the U.S., partly because they’re attracting so

A Record Share of Homebuyers Relocate As High Prices, Mortgage Rates Push Them Toward More Affordable Areas

July 18, 2022

Homebuyers are seeking out less expensive locales like Tampa and San Antonio, partly because the surging cost of housing and other goods is limiting their ability to buy homes in many U.S. cities. A record 32.6% of Redfin.com users nationwide looked to move from one metro to another in the second quarter, up slightly from

More than 60% of Boise Home Sellers Dropped Their Asking Price in June Amid Cooling Market

July 14, 2022

Home sellers are contending with apprehensive buyers amid rising mortgage rates and the possibility of an oncoming recession. Price drops have become a common feature of the cooling housing market, particularly in places that were popular with homebuyers earlier in the pandemic. Nearly two-thirds (61.5%) of homes for sale in Boise, ID had a price

The Bay Area Housing Market Is Cooling More Rapidly Than Anywhere Else in the Country

July 8, 2022

San Jose, Oakland and San Francisco are among the fastest-cooling housing markets in the U.S. as mortgage rates remain above 5% and the stock market falters, pricing many would-be buyers out of the market. The 10 markets cooling most are all in the western U.S. Housing markets in northern California are cooling faster than anywhere

Redfin Economist Q&A: How Rising Rates and Economic Uncertainty Could Impact Home Prices, Migration, Rentals and More

July 1, 2022

Redfin economists answered questions about what’s likely to happen in the housing market as the economy stumbles. High mortgage rates will likely keep homebuyer demand below the pandemic peak. Whether mortgage rates go up or down from here depends largely on whether inflation calms down or remains stubbornly high. Home prices are past their peak

Dana Anderson

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