The median age of first-time buyers dipped slightly from 2024 to 2025, from 36 to 35. For repeat buyers, the median age is 47, down from a peak of 52. Redfin determined the median age of homebuyers using U.S. Census Bureau data; this report includes a methodological dive into why our data differs from NAR’s. […]
The Typical First-Time Homebuyer Is 35 Years Old Read More »
Home-purchase agreements are canceled at the highest rate in San Antonio, where sellers outnumber buyers two to one–giving buyers the upper hand and plenty of choices. Nearly 40,000 home-sale agreements nationwide were canceled in January, equal to 13.7% of homes that went under contract that month. That’s up from 13.1% a year earlier, and the
Nearly 1 in 7 Home Sales Are Falling Through, a Record For This Time of Year Read More »
A higher share of Americans struggle to afford housing than last spring, according to a Redfin survey. The most common sacrifices Americans make to afford housing are eating out less and skipping vacations. Some respondents are also delaying medical treatments to make rent or mortgage payments. Zooming in on Gen Zers, they make sacrifices including
Half of Americans Struggle to Pay Rent or Mortgage, With Gen Z Hit Hardest Read More »
Along with more purchasing power, house hunters have negotiating power as sellers greatly outnumber buyers. The daily average mortgage rate dropped to 5.99% on February 23, the lowest level since September 2022, except for a few hours on January 9 when rates fell to the same level. A buyer on a $3,000 monthly budget can
Mortgage Rates Drop to Lowest Level Since 2022, Handing Homebuyers More Purchasing Power Read More »
There are 600,000 more home sellers than buyers, giving the buyers who are in the market negotiating power. Only five metro areas are seller’s markets, most of which are located in the Northeast. The South and West are home to the strongest buyer’s markets. There were an estimated 44% more home sellers than buyers in
It’s a Buyer’s Market: America Has 44% More Home Sellers Than Buyers—a Near-Record Gap Read More »
Pending home sales fell to the lowest level since 2023 and existing-home sales dropped the most since 2022 as elevated housing costs curbed homebuyer demand. Sellers also retreated, but still far outnumbered buyers, meaning the buyers who were in the market could negotiate on price. The typical home that went under contract did so in
Home Prices Start Year Up Just 1% as Buyer’s Market Keeps Growth in Check Read More »
