Although the number of homes for sale is increasing rapidly in some markets, the number of affordable homes for sale is falling. We have written a lot recently about rapid growth in the supply of homes for sale in many markets such as San Jose and Seattle. But with both home prices and interest rates […]
Sales of new homes in all four major US regions dropped in the last two months of 2018. The year-over-year trend was especially drastic in the Northeast, where new-home sales fell by 16.1 percent in December. Here’s a look at the annual drop in single-family new-home sales (seasonally adjusted) across the country in the final […]
December home sales fell 11 percent as prices turned in their smallest gain in over six years. Boston and San Jose both saw prices decline year over year. As predicted by CEO Glenn Kelman in early November, the housing market ended 2018 not with a bang, but a whimper. U.S. home-sale prices increased just 1.2 […]
35-44 year olds were hit hardest by the housing bust just as they reached prime first-time homebuying age Less than half of homebuyers and sellers between the ages of 35 and 44 believe that real estate is a better long-term investment than the stock market, according to a survey Redfin commissioned in December of more […]
Buyers in every part of the city get a major reprieve, but one in three South Seattle offers still face competition As the share of Redfin offers facing competition plummets to an eight-year low nationally, the Seattle metro area has seen a particularly spectacular decline in bidding wars, falling from 75 percent of all offers […]
We predict that the housing market will continue to cool into the first half of 2019. Inventory will rise back up to 2017 levels, and price growth, while likely still positive, will be the lowest we’ve seen since 2014 or possibly even 2011. Investors and house-flippers will back away from the cooling market, and real […]