Sluggish homebuying demand and a pileup of inventory are deterring prospective home sellers, some of whom are opting to rent their homes out instead of sell. Existing-home sales hit a nine-month low as record-high home prices dissuaded buyers. Home sales, prices and listings are holding up relatively well in the Rust Belt, which has attracted […]
New Listings of U.S. Homes Fall to Lowest Level in Nearly Two Years Read More »
Nearly one-quarter of Gen Zers and millennials who recently bought a home used either a cash gift from family or an inheritance to help fund their down payment, according to a recent Redfin-commissioned survey. Nearly one-quarter (23.8%) of young Americans who recently bought a home used family money to help fund their down payment, according
The daily average mortgage rate dipped to 6.67% to start July, down from roughly 7.1% five weeks earlier. On-the-fence house hunters should consider jumping in while they have more purchasing power–and more negotiating power. A homebuyer on a $3,000 monthly budget has gained $16,000 in purchasing power in the last five weeks. That buyer can
Condo prices fell amid increasing HOA fees and insurance costs. Single-family home prices, by comparison, rose 0.5%. Condo sales dropped 12%—more than three times as much as sales of single-family homes. Florida is the epicenter of the condo slump, with prices and sales down over 30% in some areas. The median U.S. condo sale price
Condo Prices Dropped 2% in May—the Second Largest Decline on Record Read More »
U.S. home prices in May ticked down 0.1% on a seasonally adjusted basis—only the fourth time in the past decade when prices have posted a monthly decline. Home prices rose 3.6% year over year—the first time annual growth has been below 4% since July 2023. 32 of the 50 most populous U.S. metros recorded a
U.S. Home Prices Edged Down 0.1% in May, Only the Fourth Monthly Drop in the Past Decade Read More »
The risk of selling at a loss varies significantly in different parts of the country; nearly 20% of sellers are at risk of losing money in San Francisco, compared to virtually 0% of sellers in Providence, RI. Nearly one in 10 condos are at risk of selling at a loss. And nearly 30% of condos
