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December 5, 2024
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 […]
December 5, 2024
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 […]
December 4, 2024
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 […]
November 27, 2024
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 […]
November 22, 2024
U.S. investor home purchases fell 2% year over year in the third quarter, a much smaller change than the swings of the last several years. Purchases are now back near pre-pandemic levels. In Florida, investor purchases posted double-digit declines amid an ongoing climate and insurance crisis. But investor purchases saw double-digit gains in a handful […]
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