Housing Market Update: Home Prices Post Another 15% Gain
U.S. home prices increased 15% and pending sales were up 32% from a year earlier in the four weeks ending October 18.
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Housing Market News
56% of Redfin Offers Faced Bidding Wars in September, Down From 59% in August
Competition in the housing market remains fierce, but has cooled slightly amid a seasonal slowdown and surging home prices. Nationwide, 56.3% of Redfin offers on homes faced competition in September, down from a revised rate of 59.1% in August. While that’s the first decline in at least five months, a majority of offers still encountered
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Housing Market Update: U.S. Home Prices Rise 15% to Another All-Time High
Median home price climbs to $320,644 as demand outpaces supply, with pending sales up 31% and new listings growing 8%. Key housing market takeaways for 434 U.S. metro areas during the four-week period ending October 11: The median home sale price increased 14.9% year over year to $320,644—the highest value on record in Redfin’s data.
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Home Prices Soared 14% in September, a Record-Setting Month for Price, Sales and Speed
Home prices skyrocketed more than 14% year over year in September, the biggest increase on record. The real estate market also experienced historically high sales growth and the fastest pace Redfin has ever recorded. The national median home price rose 14.4% year over year to $333,900 in September, the biggest annual increase of any month
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In Areas at High Risk for Wildfires, Relative Affordability Lures Homebuyers
In the past eight years, the price difference between low-risk and high-risk areas has flipped—from a 2.5% premium in high-risk areas in 2012 to a 3.9% discount in 2020—partly due to more intense competition in areas with low wildfire risk. The median sale price of homes in zip codes with a low wildfire risk has
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Trump Condos Fetch a 10% Premium Over Similar Luxury Units, Down From 34% in 2016
The analysis, which excludes New York City, also found that 57% of condos in Trump-branded buildings mention “Trump” in the online listing description, down from 78% four years ago. The typical “Trump” branded condo that sold in the U.S. this year was purchased for a median of $720,000—9.7% more than the typical comparable luxury condo.
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