Homebuyers are getting cold feet due to high housing costs and economic uncertainty. Many are convinced they’ll be able to find a home they like better because there are so many listings on the market. Homebuyers are most likely to walk away in Texas and Florida, and least likely in Nassau County, NY and the […]
15% of Home Purchases Fell Through in October, Up Slightly From a Year Earlier Read More »
U.S. homebuyers will start to get some relief in 2026, with affordability improving as income growth outpaces home-price growth. Next year will mark the beginning of a long, slow recovery for the housing market. The Great Housing Reset will take shape in 2026. It won’t be a quick price correction, and it won’t be a
Redfin’s 2026 Predictions: Welcome to The Great Housing Reset Read More »
The typical retail worker earns $34,000 per year, or 52% less than they would need to afford the typical apartment. Rental affordability has improved slightly in recent years; the typical retail worker earned 57% less than they would need during the pandemic moving frenzy. The earnings shortfall is smallest in Cleveland, where the typical retail
Typical Retail Worker Earns $37,000 Less Than Needed to Afford Typical Apartment Read More »
The number of home listings that were pulled off the market rose to a historically high level in September. Sellers are delisting because so many listings are going stale; many homeowners would rather stay put than accept a low offer. The increase in delistings is propping up home prices. Nationwide, 5.5% of total listings were
Delistings Jump 28% as Sellers Pull Homes Off Market Rather Than Settle For Low Prices Read More »
Rural homebuyers need to earn $75,000 to afford the typical home, up from $36,000 before the pandemic. Suburban and urban areas have also seen affordability erode—but not as severely. The median home sale price in rural areas is up 61% from before the pandemic, compared with a 49% increase in suburban areas and a 46%
The Housing Affordability Crisis Is Accelerating Fastest in Rural America Read More »
Home sellers outnumbered buyers by a record 36.8% in October, giving buyers who were in the market room to negotiate. The number of buyers in the market dropped 1.7% to the lowest level on record aside from the start of the pandemic amid high housing costs and economic uncertainty. The number of sellers dropped 0.5%
It’s the Strongest Buyer’s Market in Records Dating Back Over a Decade Read More »
