Redfin agents in areas affected by inclement weather report slow homebuying activity, but agents in warmer locales say buyers and sellers are active as mortgage rates stay in the high-6% range, down from 8% a few months ago. The median U.S. home-sale price rose 5.1% during the four weeks ending January 21, the biggest increase
2024 is shaping up to be more active than 2023 for homebuyers and sellers, with mortgage applications and new listings rising. But Redfin economists believe demand and listings would be rising more if not for harsher-than-usual winter weather. Homebuyers and sellers are gradually becoming more active as the calendar flips further into 2024. Mortgage-purchase applications
Empty-nest baby boomers own 28% of the nation’s large homes, while millennials with kids own just 14%. Empty nesters take up a lot of large homes because affordability was better when they were young, and there’s no financial incentive to sell now: Most boomers own their homes free and clear, and most who have a
As mortgage rates hold steady in the 6% range and new listings tick up, mortgage-purchase applications and Redfin home tours are rising. Redfin agents report that as the new year kicks off, more sellers are listing and more buyers are going on tours and applying for mortgages as rates remain in the mid-6% range, down
The median U.S. housing payment is down nearly $400 from its October peak, enticing some sidelined buyers to get back in the game. Redfin’s Demand Index, which measures early-stage demand, is up 10% from a month ago. The median U.S. mortgage payment was $2,361 during the four weeks ending December 31, down $372 (-14%) from
The share of homebuyers moving to a different metro area is coming down from a peak as it becomes less feasible to work remotely. For those who are relocating, the most popular destinations are relatively affordable places like Sacramento, Las Vegas and Spokane, WA. The share of U.S. homebuyers looking to move to a different
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