High prices and economic uncertainty kept demand muted; now, rates are already rising again and global tensions could add to homebuyer hesitation. The median monthly housing payment was $2,591 during the four weeks ending March 1, down 2.8% year over year. Payments are falling largely thanks to the weekly average mortgage rate dropping to 5.98% […]
Investor activity is sluggish on a national level, with purchases rising just 2%—but it varies widely from metro to metro. In Seattle, investor purchases jumped 37% year over year in the fourth quarter—the biggest gain among the metros Redfin analyzed. Orlando posted the biggest decline, down 16%. U.S. investors bought more single-family homes, and waded
For Real Estate Investors, the West Coast Is Hot and Florida Is Not Read More »
Homeowner tenure peaked at 13.4 years in 2020, roughly doubling the average tenure from 2005. Then it declined marginally for four years before ticking up in 2025. People hanging onto their houses can be an obstacle for first-time homebuyers because it limits inventory and pushes up prices. Tenure is longest in California, largely because state
Luxury pending home sales in West Palm Beach posted a larger gain than any other major metro in January, rising almost six times faster than non luxury sales. Luxury prices jumped 11%—more than double the national gain. West Palm Beach, which some call “Wall Street South,” has seen its luxury market skyrocket due to an
West Palm Beach’s Luxury Housing Market Is Booming, With Sales Up 30% Read More »
21% of U.S. mortgaged homeowners have a rate of 6% or higher, the highest share in a decade. 20% have a rate under 3%, the lowest share in 5 years. The shift in mortgage-rate distribution reflects the fact that rates have been above 6% for nearly 4 years. Redfin economists say this could be an
More Homeowners Have a Rate Above 6% Than a Rate Below 3% For the First Time in 5 Years Read More »
Lower rates haven’t yet brought homebuyers off the sidelines, but hope is in the air as we approach spring. The weekly average mortgage rate has dropped to 6.01%, its lowest level since September 2022. That has pushed the median U.S. monthly housing payment down to $2,599, 2.6% lower than a year ago. Wages are nearly
Homebuying Affordability Improves As Mortgage Rates Fall to Lowest Level in Over 3 Years Read More »
