Homeowner tenure is down slightly from the peak reached in 2020, but it has nearly doubled over the last couple decades, contributing to the lack of for-sale inventory. Baby boomers are driving the general trend of longer homeowner tenure; more than one-third of homeowners 65 and older have held onto their home for at least […]
The Typical U.S. Home Changes Hands Every 12 Years, Down From 2020 Peak Read More »
A record 25% of Redfin.com home searchers looked to move to a different U.S. metro in January, many in search of relatively affordable housing. Miami, Sacramento and Las Vegas were the most popular destinations. A record one-quarter (24.9%) of Redfin.com users nationwide looked to move to a different metro area in January as remote work
Pending home sales improved slightly, but an ongoing affordability crisis and lack of homes for sale kept many house hunters on the sidelines. Pending home sales rose 0.5% from a month earlier in January on a seasonally-adjusted basis. That compares with December’s revised month-over-month increase of 1.4%, which was the first gain in 14 months.
Market Recovery Hampered by High Housing Costs, Low Supply in January Read More »
As mortgage rates rise, serious homebuyers are scarce. But plenty of people are searching for homes online and touring them, waiting until rates decline to buy. The median U.S. home-sale price was $348,000 during the four weeks ending February 19, essentially unchanged (+0.1%) year over year. That’s the first time since at least 2015, when
Housing Market Update: Sale Prices Flatten, Demand for Mortgages Falls as Rates Climb Read More »
The Bay Area housing market has lost more value in percentage terms than anywhere else in the country amid sluggish demand. Florida continues to see large gains. Home values are holding up better in the suburbs than in cities, which have seen an exodus of residents due to remote work. Millennials, who are now in
U.S. Homeowners Have Lost $2.3 Trillion in Value Since June Peak Read More »
Redfin’s Homebuyer Demand Index is down slightly from last month as somewhat disappointing inflation and jobs reports cause mortgage rates to increase. But demand is still up from its November trough and pending home sales continue improving. Some homebuyers are retreating back to the sidelines as mortgage rates ascend toward 7%. Redfin’s Homebuyer Demand Index–a
Housing Market Update: Recovery Stalls As Mortgage Rates Jump Read More »
