74% of U.S. metros with more than half of homes facing intense drought saw more people move in than out this year. An estimated $17 trillion worth of homes (about 25 million properties) experienced intense drought in August, up 42% from a year earlier. There were 13 metros, including Las Vegas, Sacramento and Austin, where
A number of metrics that reflect a cooling market are now leveling off—among them, housing supply and the share of sellers slashing their list prices—as would-be sellers back away in response to dampened homebuyer demand. The housing-market slowdown is starting to slow down. Fewer homeowners are listing their homes due to ebbing homebuyer demand. That’s
About 63,000 home-purchase agreements were called off in July, equal to 16% of homes that went under contract that month. That’s the highest rate in more than two years. Nationwide, roughly 63,000 home-purchase agreements fell through in July, equal to 16.1% of homes that went under contract that month. That’s the highest percentage on record
Higher mortgage rates and home prices are pushing some house hunters out of the market, leaving those who remain with more options and negotiating power. Nationwide, 44.3% of home offers written by Redfin agents faced competition on a seasonally adjusted basis in July, compared with a revised rate of 50.9% one month earlier and 63.8%
The bidding-war rate dipped below 50% for the first time since the start of the pandemic in June as rising mortgage rates and inflation took a bite out of homebuyer budgets. Nationwide, 49.9% of home offers written by Redfin agents faced competition on a seasonally adjusted basis in June. That’s the lowest share since May
Nationwide, energy costs are taking up a smaller portion of homeowner expenses because they’re not surging nearly as quickly as housing prices. The typical U.S. household spent an estimated $2,127 on energy utility bills in 2021, equal to 14.8% of the annual mortgage payment for homebuyers. That compares with $1,986 (15.8%) a year earlier and
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