For the first time, home sales are higher than before the pandemic due to low mortgage rates. With low inventory, homes sell fast and prices rise.
It’s Not All About Demand: Home Prices are Sky-High Where It’s Most Difficult and Most Expensive to Acquire and Develop Land
In expensive coastal metros like San Jose, the value of land accounts for more than half of the typical home’s value, far more than it does in inland areas.
Minority Neighborhoods Had the Largest Percentage Gains in Home Equity But Starting with More Equity, White Neighborhoods Had the Largest Absolute-Dollar Gains Homeowners in white, minority and mixed-race neighborhoods posted substantial gains in home equity from 2012 to 2018. Minority neighborhoods started with the lowest levels of home equity but had the largest percentage gains.
The Redfin Housing Demand Index is the industry’s first and only measure of housing activity prior to purchase. It is based on thousands of Redfin customers requesting home tours and writing offers in 15 major metro areas. The Demand Index is seasonally adjusted, with 100 representing the baseline level of homebuyer demand posted in January
Redfin finds that across 45 major metros, 9% of homes for sale are affordable for veterans, down from 27% in 2012.
In U.S. cities, homes within walking distance to jobs, schools, shopping, parks and other urban amenities are both highly desired and extremely rare.