Dana Anderson, Author at Redfin Real Estate News

Here Are Eight U.S. Migration Hotspots Where Homes Are Still Relatively Affordable

May 23, 2022

As a record share of homebuyers move to different parts of the country, prices in popular destinations like Miami and Phoenix have shot up. But buyers can still turn to hotspots like Virginia Beach, San Antonio and Bakersfield to find homes priced below the national median. Thirty-two percent of homebuyers nationwide looked to move to

Just 45% of Black Families Own Their Home, Compared With 74% of White Families–And the Gap Has Hardly Narrowed Over the Last Decade

May 17, 2022

The homeownership rates for both Black and white families rose slightly over the last 10 years, with part of the increase taking place during the pandemic. The racial homeownership gap persists. The homeownership rate for Black families rose only slightly over the last decade, with part of the increase taking place during the pandemic–but it

Demand For Second Homes Is Way Down From Last Year’s Boom

May 13, 2022

Sky-high prices, loan-fee increases and financial-market weakness are putting a dent in demand for vacation homes, which soared during the pandemic. There’s still more demand for second homes than there was before the pandemic. Demand for vacation homes is way down after last year’s pandemic-driven boom. Mortgage-rate locks for second homes were up 9.1% from

Migration Hotspots in the Sun Belt Are Home to the Nation’s Highest Inflation Rates

May 3, 2022

An influx of people moving into Phoenix, Tampa and Atlanta has led to rapidly rising home prices, one contributor to outsized inflation in those areas. Those Sun Belt metros are still relatively affordable, but scores of new residents and high inflation means the financial benefit of living there is diminishing. Some of the hottest migration

Pandemic Homebuyers Flocked to the Sun Belt for Better Prices. Now, You’ll Need 40% More Income to Afford a Home There.

April 27, 2022

Homes are much less affordable than they were a year ago due to skyrocketing prices and surging mortgage rates–especially in Sun Belt metros like Tampa, Phoenix and Las Vegas. Homebuyers in nearly every part of the country have felt the impact of surging housing prices since the start of the pandemic—but especially those in the

Americans Are Buying Smaller Homes as Prices Skyrocket

April 20, 2022

With sky-high prices and rising mortgage rates, each square foot of space costs more than ever before. Buyers are compromising by turning to smaller homes. Americans are buying smaller homes than they were at the height of the pandemic. The typical U.S. home that went under contract in March was 1,720 square feet, down 1.8%

Dana Anderson

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