54% of Redfin offers faced bidding wars last month amid record-low mortgage rates and an acute shortage of homes for sale.
Almost half of surveyed homebuyers said they made a bid on a home without seeing it in person, up from 28% in 2019, amid pandemic fears and competition driven by a worsening housing shortage
1 in 5 successful offers waived the inspection contingency in June as bidding wars intensified amid a deepening housing shortage and record-low interest rates
Nationwide, 15.9% of Black Americans who apply for mortgages are rejected, compared with just 7% of white Americans. The gap is even wider in Milwaukee, San Francisco, Detroit and Chicago.
Prices of the most affordable third of homes in the U.S. climbed 5.5% year over year during the 12 weeks ending May 31, while prices of the most expensive third of homes increased just 2%.
Web searches for single-family homes have popped as the coronavirus pandemic has turned privacy into a hot commodity.
54% of Redfin offers faced bidding wars last month amid record-low mortgage rates and an acute shortage of homes for sale.
Almost half of surveyed homebuyers said they made a bid on a home without seeing it in person, up from 28% in 2019, amid pandemic fears and competition driven by a worsening housing shortage
1 in 5 successful offers waived the inspection contingency in June as bidding wars intensified amid a deepening housing shortage and record-low interest rates
Nationwide, 15.9% of Black Americans who apply for mortgages are rejected, compared with just 7% of white Americans. The gap is even wider in Milwaukee, San Francisco, Detroit and Chicago.
Prices of the most affordable third of homes in the U.S. climbed 5.5% year over year during the 12 weeks ending May 31, while prices of the most expensive third of homes increased just 2%.
Web searches for single-family homes have popped as the coronavirus pandemic has turned privacy into a hot commodity.