47% of renters feel a sense of belonging in their neighborhood, compared with 64% of homeowners, according to a new Redfin survey. 39% of renters feel they have things in common with their neighbors, compared with 59% of homeowners. 42% of renters try to avoid interacting with their neighbors, versus 33% of homeowners. Less than […]
Home tours, mortgage applications and pending sales are rising as mortgage rates decline from the four-month high they hit in late November. More sellers are coming off the fence, too. Mortgage rates are declining after last week’s cooler-than-expected jobs report made it clear the Fed will cut interest rates again this month. The average weekly
Homebuying Demand Sitting Near Highest Level Since Early Spring As Mortgage Rates Fall Read More »
The 2024 election results show that voters are willing to greenlight big spending to fund affordable housing. Across the country, cities and states approved hundreds of millions of dollars in bonds and taxes to increase housing supply. But the question remains—given existing regulatory barriers like zoning and red tape, will that money be spent where
2024 Local Election Results Show Voters are Willing to Spend Big on Affordable Housing Read More »
The uptick in early-stage homebuying activity we saw immediately after the election is continuing, despite high home prices and mortgage rates. Homebuying demand is ending the year strong. Redfin’s Homebuyer Demand Index–a seasonally adjusted measure of tours and other buying services from Redfin agents–is sitting near its highest level since September 2023, and it’s up
More Buyers Are Touring Houses, Applying For Mortgages As We Enter 2024’s Home Stretch Read More »
Redfin’s economists expect there will be more home sales in 2025, largely due to pent-up demand. But some would-be homebuyers will still be priced out, with home prices climbing and mortgage rates remaining near 7%. Rental prices, on the other hand, should stay flat while wages increase, improving affordability for renters. Politicians from both sides
Pending sales posted a big year-over-year increase this week, partly because the boom in early-stage homebuying demand we saw just after the election is translating to sales and partly because we’re comparing to a period in 2023 that included Thanksgiving. U.S. pending home sales rose 12.1% year over year during the four weeks ending November
Pending Home Sales Rise After Post-Election Surge in Home Tours Read More »
