Just over 31% of home purchases in December were made in cash, down slightly from the eight-year high hit in November. More than 15% of homebuyers taking out a mortgage used an FHA loan in December, the highest share since May 2020, as buyers gain negotiating power in the cool market. Roughly 7% of mortgaged […]
Share of Homes Bought With Cash Ticks Down From November Peak Read More »
Investor home purchases fell a record 46% year over year in the fourth quarter. Investors bought 18% of homes that sold, down from 19% a year earlier. Pandemic boomtowns Las Vegas and Phoenix saw investor purchases fall over 60%—more than all of the other metros Redfin analyzed. Investors pulled back from single-family homes more than
Investors Are Buying Roughly Half as Many Homes as They Were a Year Ago Read More »
Pending sales and new listings each posted their smallest declines since September. Homebuyer demand continues to increase from its fall low point despite mortgage rates ticking up this week. Seller activity is also picking up. Pending home sales posted their smallest decline since September during the four weeks ending February 5, falling 20% from a
The typical Austin home costs six figures less than it did during the pandemic homebuying frenzy, but 6%-plus mortgage rates mean housing remains unaffordable for many locals. Austin’s median home sale price has dropped $135,000 from the apex it reached during the pandemic homebuying frenzy–but that doesn’t mean homes are affordable. The median-priced home in
Austin Homebuyers Need 27% More Income Than a Year Ago Despite Drop in Prices Read More »
Home sellers are starting to come off the sidelines to meet buyer demand as mortgage rates steadily decline, with new listings and pending sales both posting their smallest drops in four months. A homebuyer on a $2,500 monthly budget can afford a $400,000 home for the first time in four months as mortgage rates dip
Prospective homebuyers are getting some relief as monthly housing payments fall from their peak due to declining mortgage rates and home prices. It’s one reason for renewed homebuyer interest. The median monthly housing payment for San Francisco homebuyers has dropped 14.8%, from $9,973 to $8,496, since mortgage rates hit their pandemic-era peak in October, the
