Florida and New York dominated February’s ultra-luxury housing market, with oceanfront estates and Central Park condos going for more than $50 million. A never-before-listed oceanfront estate in Manalapan, FL—an ultra-exclusive town on a small barrier island near Palm Beach—was the most expensive U.S. home sale of February 2026, pulling in over $68 million. Just up […]
Just 30% of Americans believe advances in AI will help boost the economy and help more people afford homes, according to a recent Redfin survey. The majority of both Democrats and Republicans believe AI will make it harder to afford homes. Nearly two-thirds of Americans say tariffs will cause inflation and keep interest rates high,
3 in 5 Americans Fear AI Could Replace Jobs, Making it Harder to Afford Homes Read More »
The typical home that went under contract in February spent 66 days on the market—the slowest February pace in a decade. The typical buyer scored 1.8% off the list price—the biggest February discount since 2023; sellers outnumber buyers, giving buyers negotiating power. Pending home sales and new listings both inched down last month, while home
Homebuyers Can Afford to Take Their Time Heading Into Spring 2026 Read More »
The average rate for an ARM so far this month is 5.51%, compared with a 6.19% average for a 30-year fixed rate mortgage. The typical homebuyer using an ARM takes on a monthly payment of $2,578, down 7% from last year. Today’s ARM discount is big enough that buyers should talk to their lender about
A Redfin agent in Austin said the upside of higher mortgage rates is that they decrease competition, allowing house hunters to negotiate prices down and ask for concessions. Mortgage rates are bouncing back up and home-sale prices are rising. The weekly average mortgage rate rose to 6.11% last week, the highest level since the start
By comparison, the bottom 20% of U.S. earners hold just 5% of real estate wealth. The top 1% of earners in America hold 12.7% of the country’s real estate wealth, and those in the 80th to 99th income percentile hold 43.7%. All together, that means the top 20% of earners hold more than half (56.4%)
The Top 20% of Earners Hold Nearly 60% of America’s Real Estate Wealth Read More »
