New: The Redfin Data Center is here!

Access comprehensive market data, trends, and insights in one place

Learn More

Housing Affordability

Homebuyers Lost Six Figures Worth of Spending Power This Year As Mortgage Rates Doubled

Raising rates is necessary to fight inflation, but buyers may need to get creative to afford a home with high monthly mortgage payments.   A homebuyer on a $3,000 monthly budget can afford a $479,750 home with today’s 6% mortgage rates, down from the $621,000 home they could have bought a year ago when 3% rates […]

Homebuyers Lost Six Figures Worth of Spending Power This Year As Mortgage Rates Doubled Read More »

Seattle’s Housing Market Is Cooling Faster Than Any Other in the U.S.

High mortgage rates, persistent inflation and economic uncertainty are cooling down expensive markets like Seattle and San Jose, along with pandemic homebuying hotspots like Las Vegas and Phoenix. Seattle’s housing market is slowing faster than any other housing market in the country amid rising mortgage rates, inflation, a slowing stock market and broad economic uncertainty. 

Seattle’s Housing Market Is Cooling Faster Than Any Other in the U.S. Read More »

A Record Share of Homebuyers Relocate, Driven By Moves Away From Expensive Coastal Areas

High mortgage rates, persistent inflation and economic woes are making expensive parts of the country less attractive and relatively affordable places more popular. Migration out of Los Angeles, New York, Washington, D.C. and Boston has picked up from last year. A record 33.9% of Redfin.com users nationwide looked to move from one metro to another

A Record Share of Homebuyers Relocate, Driven By Moves Away From Expensive Coastal Areas Read More »

85% of Homeowners with Mortgages Have a Rate Far Below Today’s Level, a Factor Prompting Many to Stay Put

Some Americans are hesitant to sell their homes as mortgage rates soar because they have a low interest rate locked in. That’s contributing to a nearly-20% slump in new listings. Roughly six of every seven (85%) U.S. homeowners with mortgages have a mortgage interest rate far below today’s level of 6%. With rates now at

85% of Homeowners with Mortgages Have a Rate Far Below Today’s Level, a Factor Prompting Many to Stay Put Read More »

Nearly One-Third of U.S. Homes Are Bought With Cash, Well Above Pre-Pandemic Levels

The share of U.S. homes bought with all cash is down slightly from the peak reached earlier this year as the market cools, but still up from before the pandemic. All-cash sales are most prevalent in Florida.  For buyers taking out loans, the share of homes purchased using FHA and VA loans are both up

Nearly One-Third of U.S. Homes Are Bought With Cash, Well Above Pre-Pandemic Levels Read More »

Millennial and Gen Z Renters Have Personal Inflation Rates Above 11%, Compared with 8.5% For the Typical American

Inflation is hitting young renters hard because the cost of rent and other expenses has increased much faster than their incomes. Millennials who took on a new rental lease in July saw their overall cost of goods and services increase 11.6% year over year, substantially higher than 8.5% for the U.S. population as a whole.

Millennial and Gen Z Renters Have Personal Inflation Rates Above 11%, Compared with 8.5% For the Typical American Read More »

Scroll to Top