White people took out 62% of new mortgages last year, down from 64% in 2022 and 70% in 2018. Meanwhile, the share taken out by Hispanic, Black and Asian buyers ticked up. People of color are taking out a rising share of mortgages because an increasing share of them are of prime homebuying age, and
The share of San Francisco sellers losing money on their home sale is sitting near its highest level in more than a decade, largely because prices have come back down to earth after skyrocketing during the pandemic. Nationwide, the share of sellers losing money is much smaller (4%) because home prices remain near their record
Buyers must earn nearly twice as much as before the pandemic to afford the typical starter home, due to the one-two punch of high prices and mortgage rates. One sliver of hope: Affordability of starter homes is slowly improving after hitting a low point at the end of 2023. Homebuyers must earn $75,849 annually to
Buyers need to earn $114,000 to afford the typical U.S. home—35% more than the typical household makes. But that’s an improvement from October, when buyers needed to earn a record $121,000—51% more than the median household income. Mortgage rates have come down from their recent peak, giving buyers a bit more purchasing power, but affordability
A homebuyer with the median U.S. income would’ve had to spend a record 41% of earnings on monthly housing costs in 2023, up from 39% in 2022 and 31% in 2021. The least affordable markets were Anaheim and San Francisco, where homebuyers with the typical local income would’ve needed to spend over 80% of their
About Us
Updated January 2020: By searching, you agree to the Terms of Use, and Privacy Policy.
REDFIN IS COMMITTED TO AND ABIDES BY THE FAIR HOUSING ACT AND EQUAL OPPORTUNITY ACT. READ REDFIN’S FAIR HOUSING POLICY.
Copyright: © 2022 Redfin. All rights reserved. Patent pending.
REDFIN and all REDFIN variants, TITLE FORWARD, WALK SCORE, and the R logos, are trademarks of Redfin Corporation, registered or pending in the USPTO.
California DRE #01521930
NY Standard Operating Procedures
TREC: Info About Brokerage Services, Consumer Protection Notice
If you are using a screen reader, or having trouble reading this website, please call Redfin Customer Support for help at 1-844-759-7732.
United States
Canada