At the same time last year, 2,400 homes had sold for at least $100,000 over asking. Americans were competing for a limited number of homes for sale at the beginning of this year, trying to get ahead of rising mortgage rates—and they paid up to win.  Nationwide, 5,897 homes sold

Each spring, Redfin reports on the diversity of our employees in the prior year, and the results from our initiatives to make Redfin a better place for employees of all colors and creeds. With the COVID-19 pandemic continuing throughout the year, and the socio-economic trend known as “The Great Resignation,”

The median home sale price rose 16% from a year earlier, the largest increase since August. Tensions in Ukraine have stalled the rapid increase in mortgage rates, which will likely intensify homebuying competition. Home prices spiked to an all-time high of $363,975 as the market continued to heat up during

Homeowner tenure flattened near its peak in 2021 after steadily rising for nearly a decade The typical American homeowner in 2021 had spent 13.2 years in their home. That’s down slightly from the peak of 13.5 years in 2020 but up significantly from 10.1 years in 2012. The data in

Seven 2022 REACH Australia Tech Companies Named The selected companies focus on the real estate, finance, banking, home services and insurance industries across Australia and Southeast Asia. Media Contact:  Spencer High 202-383-1051 Technology

NAR Supports Ukraine’s Fight for Freedom NAR wants to express our deep concern for the people of Ukraine and for all of our members affected by the ongoing violence in Eastern Europe. Media Contact:  Wesley Shaw 202-383-1193

Pending Home Sales Decrease 5.7% in January Pending home sales slumped in January, with inventory at an all-time low and buyers having a difficult time finding a home. Media Contact:  Quintin Simmons 202-383-1178

Redfin Deputy Chief Economist Taylor Marr says the Russian invasion of Ukraine and the resulting economic uncertainty is likely to impact the U.S. housing market in several key ways. On a large scale, Redfin’s housing-market outlook for slowing home-price growth and plateauing sales is unchanged despite economic volatility. That’s because

New listings post smallest year-over-year decline since mid-November; pending sales rise 1%. Home-selling activity is finally gaining some steam. The number of homes newly listed for sale during the four weeks ending February 20 was down just 2% year over year, the smallest decline since mid-November. More new listings were

70% of home offers written by Redfin agents faced competition in January, up from roughly 60% a year earlier and the highest share in Redfin’s records. Seventy percent of home offers written by Redfin agents faced bidding wars in January on a seasonally adjusted basis, up from 67.7% in December

US Homeownership Surges, Still Lags for Black Americans U.S. homeownership rose to 65.5% in 2020, a record increase, but Black Americans continue to face significant obstacles to homeownership. Media Contact:  Troy Green 202-383-1042

Redfin’s chief economist predicts the share of Americans relocating will keep increasing as the year goes on, with rising mortgage rates and skyrocketing rents making affordable metros more attractive than ever.  A record 32.4% of Redfin.com users nationwide looked to move to a different metro area in January. That’s up

Home sales posted strong monthly gains despite rising mortgage rates and record-low supply. Fewer homes than ever were for sale in January, but homebuyers snapped up what they could before mortgage rates rose further. Seasonally adjusted new listings fell 12.4% month over month, bringing the number of homes for sale down 2.6% to a record […]

Portland and Austin saw the largest increases, with rents surging more than 30% year over year. Average monthly asking rents in the U.S. increased 15.2% year over year to $1,891 in January, the largest annual jump since at least February 2020 (Redfin’s rental data goes back through February 2019). Meanwhile, the national median monthly mortgage […]

Existing-Home Sales Surge 6.7% in January On a month-over-month basis, sales increased in all regions of the U.S. in January. Year-over-year, regional sales activity was mixed. Media Contact:  Quintin Simmons 202-383-1178

A record 57% of homes sold in two weeks and the typical monthly mortgage payment soared to a new high, approaching $2,000. Homes sold faster than ever during the four weeks ending February 13, as a record 57% of homes that went under contract did so within two weeks of being listed. People buying homes […]

Investors bought 18.4% of the U.S. homes that were purchased in the fourth quarter, a record high. Investor demand is stronger than ever as home prices increase, allowing investors to charge higher rents and sell flipped homes for higher prices. Real estate investors bought roughly 80,000 U.S. homes worth a total of $50 billion in […]

AuthorAndrew Te.  Date: February 15, 2022 5:33 pm Click here to browse our Real Estate Agent Directory and contact top-rated agents in your area! Buying a new home is one of the most exciting and rewarding experiences in life. However, in most situations, you need to depend on the expertise

AuthorAndrew Te.  Date: February 15, 2022 3:08 pm Click here to browse our Real Estate Agent Directory and contact top-rated agents in your area! When considering tangible assets, most investors look to stocks, bonds, and other financial properties. Younger investors often overlook real estate because they feel it is out

Relocators have more to spend on homes than locals in 42 of the 49 cities included in this analysis. The average out-of-towner moving to Nashville in 2021 had $736,900 to spend on a home, 28.5% higher than the $573,400 average budget for local buyers. That’s the biggest gap among the cities included in this analysis.  […]