The typical Los Angeles homeowner stays put for 19.4 years, longer than any other U.S. metro and the longest span on record for the area. Nationwide, median homeowner tenure is down from its pandemic peak, but nearly double what it was in the early aughts. The typical U.S. homeowner stays in their house for 11.8 […]
The combined net worth of America’s wealthiest 1% has grown to a record $49.2 trillion, almost the same as the combined value of all the homes in the U.S. Real estate makes up 12.3% of the net worth of the top 1%, compared to 46.4% of the net worth of the bottom 50%. The top
America’s Wealthiest 1% Could Buy 99% of America’s Homes Read More »
Mortgage rates dipped to their lowest level in nearly three months this week, which has pushed mortgage-purchase applications up. But pending home sales are still falling. Southern California is bucking the trend, with pending sales increasing. Pending U.S. home sales fell 6.4% from a year earlier during the four weeks ending March 2, the second-biggest
Investor activity is declining nationwide due to slow homebuying demand, a lackluster rental market, economic uncertainty and elevated interest rates. Investor market share is falling, too: They bought 17% of homes that sold in the fourth quarter, down from 19% a year earlier. Florida investors are pulling back fastest, with purchases down 28% year over
Atlanta, Las Vegas, Houston and parts of Florida are seeing the highest share of deals falling through, with supply piling up in those areas. Los Angeles is among the metro areas with the biggest increase in cancelled sales, due largely to January’s devastating wildfires. More home purchases are being canceled, especially in the southeastern part
Some Redfin agents are advising prospective buyers to get serious now as mortgage rates decline and the housing market tilts in buyers’ favor. The median U.S. home-sale price rose just 3.5% year over year during the four weeks ending February 23, the smallest increase since September. And mortgage rates have declined to their lowest level
Home-Price Growth Slows As Mortgage Rates Dip to Lowest Level in Over 2 Months Read More »
