Respondents to a new Redfin-commissioned survey were most likely to say their presidential pick was impacted by the economy, inflation or protecting democracy. 40% of respondents said housing affordability impacted their pick for local elected officials. Crime and safety was the top issue impacting how people voted locally. Roughly one-third of respondents think mortgage rates […]
New-construction homes are making up a smaller portion of total inventory as builders back off and more homeowners list their houses for sale. Newly built homes made up 28% of single-family homes for sale nationwide in the third quarter, the lowest level in three years. That’s down from 30.5% a year earlier and a record-high
28% of Houses For Sale Are Newly Built, the Lowest Share in 3 Years Read More »
Buyer’s agent commissions for closed home sales in October were 2.34% compared to 2.35% in August, when industry-wide changes were implemented following the NAR settlement. It’s too soon to say if the trend since August is a departure from the long-term trend of falling commissions. Commissions for homes listed under $500,000 have risen slightly since
Real Estate Agent Commissions Hold Steady Since New Industry Rules Were Implemented Read More »
Even with the impending presidential election and mortgage rates surpassing 7% for the first time since July, pending home sales posted their biggest increase in three years. But Redfin agents report some would-be homebuyers are pressing pause on starting their house hunt until the election passes. Mortgage rates rose to 7% for the first time
Housing Market Stays Surprisingly Active As Election Looms and Mortgage Rates Hit 7% Read More »
69% of millennial/Gen Z homeowners are better off than they were four years ago, compared with 52% of millennial/Gen Z renters, a Redfin survey found. Just 18% of millennial/Gen Z homeowners are worse off, compared with 26% of millennial/Gen Z renters. The gap between homeowners and renters in younger generations is much larger than the
Daily average mortgage rates have increased by nearly a whole percentage point since mid-September, bruising homebuyers’ budgets. The jump in rates comes just one week before a presidential election in which housing affordability is a top issue for voters. Mortgage rates hit 7% on October 28, the highest level since the start of summer and
Homebuyers Lose $33,000 in Purchasing Power in 6 Weeks As Mortgage Rates Hit 7% Read More »
