The typical home that sells takes 66 days to do so–the longest span in seven years–as buyers take their time looking at their options and negotiating with sellers. U.S. pending home sales fell 5.1% year over year during the four weeks ending February 8, the biggest decline in over a year. On a local level, […]
Pending Home Sales Decline in All But 5 Major U.S. Metros Read More »
Homebuyers need to earn $111,000 annually to afford the median-priced home, compared with $76,000 for renters. The median household income is $86,000. While that’s a significant gap, the rent-versus-buy gap is the smallest it has been in 3 years. It’s narrowing as buying gets slightly more affordable and renting gets slightly more expensive. Zooming in,
Homebuying affordability is improving nationwide after nearly five years during which it generally worsened. That’s because mortgage rates are lower and home-price growth is muted. Affordability is improving in 37 of the 50 most populous U.S. metro areas. It’s improving fastest in Dallas, where the income needed to buy a home has dropped 7.4% year
Seattle and Boston fans traveling to this weekend’s football game would spend the equivalent of three months’ worth of mortgage payments. Seattle renters are spending half a year’s worth of rental payments on going to the game. Boston renters are spending over four months’ rent. For Seattleites traveling to watch their team compete in this
The typical Austin home that went under contract in December spent a record 106 days on the market, compared with 60 days nationwide. A decade ago, Austin was one of the fastest markets. Unsustainable price growth in recent years along with a homebuilding boom have left Austin with more sellers than buyers. That means the
Austin, TX—Once Among the Nation’s Hottest Housing Markets—Is Now the Slowest Read More »
Pending home sales are declining, and the homes that are selling are taking more than two months to find a buyer. But new listings are improving, and Redfin agents are hopeful that falling costs will attract more buyers in time for the spring selling season. The 2026 housing market is off to a sluggish start,
