But there are bright spots emerging on the affordability horizon, which could make it easier for young Americans to afford housing in the near future. Seven in 10 Gen Z and millennial renters struggle to afford their regular housing payments, as do 41% of homeowners in that age group, according to a recent Redfin survey. […]
A late-summer window of opportunity with relatively low mortgage rates is upon us, but it may be short-lived. Late August is typically a slow time for housing activity, with people on vacation and preparing kids to return to school. With mortgage rates now falling on news coming out of a Fed meeting in Jackson Hole,
Mortgage Rates are Falling. Here’s What Homebuyers and Sellers Should Do About it. Read More »
15% of home purchases fell through last month—the highest July rate on record—as high homebuying costs made buyers skittish. Cancellations were most common in Texas and Florida. Roughly 58,000 U.S. home-purchase agreements were canceled in July, equal to 15.3% of homes that went under contract last month. That’s up from 14.5% a year earlier and
Home Purchases Are Getting Canceled at a Record Rate Read More »
Monthly payments are falling primarily because mortgage rates have dipped to a 10-month low. But home sales are still lackluster, declining slightly from a year ago. The typical homebuyer’s monthly mortgage payment is $2,614, the lowest level since January and down $224 from May’s all-time high. Housing payments are falling mainly because mortgage rates are
Mortgage Rates Drop to 10-Month Low, Pushing Down Monthly Housing Payments Read More »
U.S. home prices fell 0.1% in July, the third month-over-month decline in the past three months. On a year-over-year basis, home prices rose 2.9%, the lowest annual rate in Redfin’s records going back to 2012. A record 39 of the top 50 U.S. metros saw month-over-month price declines. U.S. home prices nudged 0.1% lower in
Home Prices Tick Down 0.1% in July, Fall in 39 of the Top 50 U.S. Metros Read More »
The typical home that went under contract in July sat on the market for 43 days—the longest July span since 2015—as pending sales hit a two-year low. Some sellers are reacting by, well, not selling; active listings posted the largest monthly drop since 2023. Home prices rose 1.4% year over year, a faster rate of
Homes Are Selling at the Slowest Summer Pace in a Decade Read More »
