The majority of America’s most resilient housing markets are located in the Rust Belt and are seeing an increase in home sales and prices. The fastest-cooling U.S. markets are concentrated in Sun Belt states, where soaring inventory is causing prices to fall in some places. The U.S. housing market has been losing steam due to […]
The income needed to afford the typical U.S. home has fallen year over year in almost a dozen major metros, most of which are Sun Belt boomtowns that have seen a drop in home prices amid surging inventory. Nationwide, the typical homebuyer needs to earn $112,131 per year to afford the median priced home—roughly $25,000
Homebuying Affordability Is Improving in These 11 Places Read More »
Redfin economists say the recent dip in mortgage rates gives serious house hunters a window of opportunity to lock in a lower monthly housing payment. The daily average mortgage rate dropped to 6.57% on August 4, the lowest level in 10 months. That means a homebuyer on a $3,000 monthly budget has gained roughly $20,000
More than a quarter of U.S. homes have gained at least $250,000 in value since the last time they were purchased, with 8% having gained more than $500,000. Owners of these homes stand to benefit if the capital gains tax was eliminated. The median value of homes that have gained at least $250,000 in value
Prices are declining in certain places as the supply of homes for sale outpaces demand, with high costs and economic uncertainty sidelining would-be buyers. The median home-sale price fell in 14 of the 50 most populous U.S. metro areas this week. Oakland, CA saw the biggest drop, with a 6.8% year-over-year decline, followed by two
Inventory is increasing in the nation’s capital faster than it is nationwide partly because some former federal workers are trying to offload their homes. The total number of homes for sale in the Washington, D.C. metro area rose 22.7% year over year in June, the third-biggest jump in records dating back to 2012. Only the
Washington, D.C. Housing Supply Rose 23% in June–One of the Biggest Jumps on Record Read More »
