Investor home purchases fell a record 46% year over year in the fourth quarter. Investors bought 18% of homes that sold, down from 19% a year earlier. Pandemic boomtowns Las Vegas and Phoenix saw investor purchases fall over 60%—more than all of the other metros Redfin analyzed. Investors pulled back from single-family homes more than
Young adults taking on a new lease are getting some relief as rental price growth slows, helping cool their personal inflation rates. Gen Z and millennial renters have lower personal inflation rates than the overall U.S. population for the first time since the end of 2020. Gen Zers and millennials who signed a new lease
Recent homebuyers in certain places, like Sacramento and Phoenix, are at higher risk of falling underwater on their mortgage, while Florida homeowners are at even lower risk. Just 3.4% of U.S. homeowners who bought in the last two years would be underwater on their mortgage if home values were to fall 4% by the end
Investors are pumping the brakes—especially in pandemic boomtowns including Phoenix and Las Vegas—as economic uncertainty and the prospect of falling home prices raise the risk of real estate investing. Investor home purchases fell 30.2% year over year nationwide in the third quarter, the largest decline since the Great Recession aside from the second quarter of
Chicago, Albany and Milwaukee are among the housing markets holding up better than others as the U.S. faces high mortgage rates and an uncertain economy. Housing markets in relatively affordable Midwest and East Coast metro areas are holding up better than anywhere else in the country as 6%-plus mortgage rates and broad economic uncertainty cool
Sun Belt cities including Phoenix, Tampa and Las Vegas attracted scores of house hunters during the pandemic, driving up home prices. Now their housing markets are among the fastest-cooling in the nation, giving buyers the flexibility to bow out. Nationwide, roughly 64,000 home-purchase agreements fell through in August, equal to 15.2% of homes that went
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