Austin, Las Vegas, Nashville and other metros popular during the pandemic have seen in-migration slow amid surging prices and higher mortgage rates. Homebuyers who are priced out of Austin are turning to San Antonio, located about 80 miles southwest. San Antonio ranks 10th on Redfin’s list of most popular migration destinations, and its popularity with […]
Priced Out of Austin, Relocating Homebuyers Turn to San Antonio Read More »
As a record share of homebuyers move to different parts of the country, prices in popular destinations like Miami and Phoenix have shot up. But buyers can still turn to hotspots like Virginia Beach, San Antonio and Bakersfield to find homes priced below the national median. Thirty-two percent of homebuyers nationwide looked to move to
Here Are Eight U.S. Migration Hotspots Where Homes Are Still Relatively Affordable Read More »
That’s $260 per month for the typical homebuyer—the largest savings since at least 2015. As mortgage rates surge, demand for adjustable-rate mortgages is on the rise because they typically have lower interest rates than 30-year fixed loans. The typical homebuyer could save an estimated $15,582 over five years, or roughly $260 per month, by taking
The homeownership rates for both Black and white families rose slightly over the last 10 years, with part of the increase taking place during the pandemic. The racial homeownership gap persists. The homeownership rate for Black families rose only slightly over the last decade, with part of the increase taking place during the pandemic–but it
An influx of people moving into Phoenix, Tampa and Atlanta has led to rapidly rising home prices, one contributor to outsized inflation in those areas. Those Sun Belt metros are still relatively affordable, but scores of new residents and high inflation means the financial benefit of living there is diminishing. Some of the hottest migration
Migration Hotspots in the Sun Belt Are Home to the Nation’s Highest Inflation Rates Read More »
Homes are much less affordable than they were a year ago due to skyrocketing prices and surging mortgage rates–especially in Sun Belt metros like Tampa, Phoenix and Las Vegas. Homebuyers in nearly every part of the country have felt the impact of surging housing prices since the start of the pandemic—but especially those in the
