Taylor Marr, Author at Redfin Real Estate News

Nearly One-Third of Homeowners Have a Mortgage Rate Far Below Today’s Level, Prompting Some to Stay Put

April 19, 2022

With mortgage rates surging, some homeowners who would otherwise be selling are staying put, as moving could mean losing their ultra-low rate and getting stuck with a heftier housing bill. About half (51%) of U.S. homeowners with mortgages have a mortgage rate under 4%—substantially below today’s level of 5%. About one-third (32%) of all homeowners—including

Pricey Coastal Markets Show First Signs of Housing Slowdown

April 8, 2022

Redfin’s deputy chief economist is taking note of early indicators that the housing market is cooling down in some pricey coastal areas–signaling the start of a national trend. “When will it end?” This question has repeatedly flashed across my screen over the past several weeks, sent by Redfin colleagues via Slack, reporters on Twitter, my

A Record 8% of U.S. Homes Are Worth At Least $1 Million

March 9, 2022

That’s nearly double the pre-pandemic share. The biggest jump was in Anaheim, where 55% of homes were worth $1 million or more in February, up from 27% two years earlier. As expensive homes take up a larger chunk of the housing market, many Americans are getting priced out. Nationwide, a record 8.2% of U.S. homes

How the Russian Invasion of Ukraine Could Impact the U.S. Housing Market

February 24, 2022

Redfin Deputy Chief Economist Taylor Marr says the Russian invasion of Ukraine and the resulting economic uncertainty is likely to impact the U.S. housing market in several key ways. On a large scale, Redfin’s housing-market outlook for slowing home-price growth and plateauing sales is unchanged despite economic volatility. That’s because opposing forces could simultaneously slow

The Value of Austin’s Housing Market Surged Nearly 40% in the Past Year—Twice as Fast as the U.S.

February 3, 2022

The total value of U.S. homes soared 19% year over year to $39 trillion in December, the largest gain that month since at least the start of the millennium. Popular migration destinations including Austin, Phoenix, Boise and Cape Coral led the way, all with increases of more than 30%. Austin’s $103 billion gain is roughly

One-Third of Houses for Sale Are New Construction, an All-Time High

January 31, 2022

The share of newly built single-family homes on the market is at a record high as builders try to keep up with surging homebuyer demand fueled by low mortgage rates, low inventory and remote work. More than one-third (34.1%) of U.S. single-family homes for sale in December were new construction, up from 25.4% a year

Taylor Marr

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