Homeowner tenure peaked at 13.4 years in 2020, roughly doubling the average tenure from 2005. Then it declined marginally for four years before ticking up in 2025. People hanging onto their houses can be an obstacle for first-time homebuyers because it limits inventory and pushes up prices. Tenure is longest in California, largely because state […]
21% of U.S. mortgaged homeowners have a rate of 6% or higher, the highest share in a decade. 20% have a rate under 3%, the lowest share in 5 years. The shift in mortgage-rate distribution reflects the fact that rates have been above 6% for nearly 4 years. Redfin economists say this could be an
More Homeowners Have a Rate Above 6% Than a Rate Below 3% For the First Time in 5 Years Read More »
In this season of Love Is Blind, the real plot twist is affordable housing. Love may be blind, but one thing is clear: Ohio is one of the most affordable states in the nation for homebuyers. One thing sticks out watching the hometown portion of “Love Is Blind” Ohio, the season that’s currently airing on
Home-purchase agreements are canceled at the highest rate in San Antonio, where sellers outnumber buyers two to one–giving buyers the upper hand and plenty of choices. Nearly 40,000 home-sale agreements nationwide were canceled in January, equal to 13.7% of homes that went under contract that month. That’s up from 13.1% a year earlier, and the
Nearly 1 in 7 Home Sales Are Falling Through, a Record For This Time of Year Read More »
A higher share of Americans struggle to afford housing than last spring, according to a Redfin survey. The most common sacrifices Americans make to afford housing are eating out less and skipping vacations. Some respondents are also delaying medical treatments to make rent or mortgage payments. Zooming in on Gen Zers, they make sacrifices including
Half of Americans Struggle to Pay Rent or Mortgage, With Gen Z Hit Hardest Read More »
Along with more purchasing power, house hunters have negotiating power as sellers greatly outnumber buyers. The daily average mortgage rate dropped to 5.99% on February 23, the lowest level since September 2022, except for a few hours on January 9 when rates fell to the same level. A buyer on a $3,000 monthly budget can
Mortgage Rates Drop to Lowest Level Since 2022, Handing Homebuyers More Purchasing Power Read More »
