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Housing Market News

Permits to Build U.S. Apartments Have Fallen 23% Since the Pandemic Construction Boom

Developers obtained permits to build 12.8 multifamily housing units for every 10,000 people in the U.S. over the past year—down from an average of 16.7 during the pandemic building boom. North Port, FL and Austin are issuing more multifamily permits than any other metros Redfin analyzed, while Stockton, CA and Bakersfield, CA are issuing the […]

Permits to Build U.S. Apartments Have Fallen 23% Since the Pandemic Construction Boom Read More »

Typical Homebuyer’s Monthly Payment Down More than $200 From May Peak, With September’s Anticipated Interest Rate Cut Already Priced Into Mortgage Rates

The median monthly mortgage payment fell to a seven-month low of $2,631 during the four weeks ending August 10, down more than $200 from its May peak of $2,846. Last week marked the 12th consecutive week that monthly payments either dropped or stayed flat.  Monthly payments are becoming more affordable because mortgage rates are at

Typical Homebuyer’s Monthly Payment Down More than $200 From May Peak, With September’s Anticipated Interest Rate Cut Already Priced Into Mortgage Rates Read More »

July’s Most Expensive Home Sales Include Spelling Mansion, Obama’s Former Summer Retreat

Four of last month’s 10 most expensive home sales were in Southern California, five were in coastal Florida and one was on Martha’s Vineyard.   A Los Angeles estate known as the “Spelling Manor,” after its former owner–producer Aaron Spelling–was the most expensive home sale of July, bringing in $110 million.  The next-most expensive sale was

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One in Five House Hunters Is Willing To Compromise Personal Safety to Afford a Home

Personal safety is the number-one must-have on homebuyers’ checklists, though 22% say they’re willing to compromise on it for affordability. The next-most important priorities are a low crime rate and low risk of natural disasters.  Roughly one in five (22%) homebuyers are willing to compromise personal safety to afford a home, according to a recent

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Buyer’s Agent Commissions Tick Up to Pre-NAR Settlement Levels

The average U.S. buyer’s agent commission rose to 2.43% in the second quarter from 2.38% a year earlier. Commissions rose across all price tiers, with the average buyer’s commission for homes under $500,000 reaching the highest level in nearly two years. The average U.S. buyer’s agent commission was 2.43% for homes sold in the second

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Buyers, Take Note: Mortgage Rates Are Falling, Home-Price Growth Is Cooling and Supply Is Outpacing Demand

Redfin economists say serious homebuyers have a window of opportunity to lock in a mortgage rate, as rates could fluctuate as more economic data is released in the coming weeks.  House hunters got some relief this week as the daily average mortgage rate dropped to its lowest level in nearly a year after a softer-than-expected

Buyers, Take Note: Mortgage Rates Are Falling, Home-Price Growth Is Cooling and Supply Is Outpacing Demand Read More »

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