That’s down from a peak of 125 hours when rents hit a record high in 2022. New Hampshire’s minimum-wage workers have to toil longest to afford the median-priced apartment, while South Dakota’s workers fall on the other end of the spectrum. The average minimum-wage earner in the U.S. would have

The increase in purchasing power is modest, but along with a pileup of housing supply in some parts of the country, it marks an opportunity for buyers.  A homebuyer on a $3,000 monthly budget can afford a $446,000 home with a 6.9% mortgage rate, roughly the daily average on February

Coastal Florida and Southern California dominate the list of the nation’s most expensive homes for sale. Half of the nation’s 10 most expensive home listings are in coastal Florida, three are in Southern California, one is in New York City and one is in Lake Tahoe. All are asking more

The combined value of U.S. homes climbed to $49.7 trillion in 2024. The total value of homes owned by millennials grew to nearly $10 trillion, representing more than 20% of the U.S. market. Two upstate New York metros—Albany and Rochester—had the fastest growth in aggregate home value, while Florida metros

The median monthly housing payment remains near record highs, but slowing price growth, declining mortgage rates and a pileup of supply is giving homebuyers in certain parts of the country room to negotiate. The median U.S. home-sale price rose 3.7% year over year during the four weeks ending February 16,

AuthorAmanda Dodge.  Date: February 19, 2025 9:00 pm Many homeowners want to buy their next property before selling their current one. Moving from one house to another is easier if you already have a place to move to. It’s also easier to identify which items you want to take and

There were 3.7 months of for-sale supply on the market in January, the most in six years. An increase in supply and drop in homebuying demand has tilted the national market in favor of buyers, with listings starting to pile up in many areas across the country. Florida metros top

Andrea Mayhew is a Redfin Premier agent who serves buyers and sellers in Vancouver, WA. She joined Redfin in September 2024 from John L. Scott and has flourished under Redfin’s model, even bringing her husband and business partner, Jon Mayhew, on board to form The Mayhew Team. We caught up

Home prices grew 0.6% month over month in January, equal to the quickest pace since November 2023. On a year-over-year basis, home prices rose 5.4%—the slowest pace since August 2023. Ten of the 50 most populous U.S. metros recorded a drop in home prices month over month, led by Tampa

The percentage of U.S. home purchases made in cash fell to 32.6% in 2024, a three-year low, as the total number of all-cash purchases dropped to its lowest level in a decade. Florida homebuyers were most likely to pay cash. Just under one-third (32.6%) of U.S. home purchases were made

Housing supply rose to the highest level since 2020 in January, but housing demand fell to the lowest level since 2020 as mortgage rates hit an eight-month high. Sellers are making moves because they’re tired of waiting for mortgage rates to fall, but buyers are skittish amid economic uncertainty and

New listings are up 7.4% from a year earlier, while pending sales are down 6%. Sales are slow mostly because of high home prices and mortgage rates.  In Washington, D.C. and other places with a high concentration of government workers, Redfin agents report some buyers and sellers are changing plans

AuthorT.C. Obichang.  Date: February 12, 2025 5:11 pm If your home isn’t selling, is it the home or the agent? Ask yourself these 4 questions to help you decide if it’s time to change Realtors. The post My Home Isn’t Selling. Should I Change Realtors? appeared first on FastExpert.

What a fantastic way to kick off the year! Redfin is excited to welcome over 140 talented agents who are ready to elevate their businesses with Redfin Next, and seize all of the opportunities this year will bring. Let’s give a warm welcome to our January Newfins—we can’t wait to

AuthorAaron Gray, Sr..  Date: February 12, 2025 2:08 pm Get expert home selling advice from a Realtor with almost 2 decades of experience. From proper pricing to expectations, he covers it all. The post 2025 Home Selling Advice from a Real Estate Expert appeared first on FastExpert.

January’s inflation report came in hotter than expected, with the shelter category increasing 0.4%—up from 0.3% in recent months.   While the overall shelter inflation component of CPI did tick up to a monthly increase of 0.4% from 0.3%, the increase was due to “lodging away from home”—meaning hotel prices—which jumped

January’s inflation report came in hotter than expected, though some of the “surprise” is due to start-of-the-year effects that have become more pronounced in recent years. Volatile hotel prices pushed the all-important shelter category back up to 0.4%, after it had fallen to 0.3% in recent months. Mortgage rates will

Homebuyers, take note: Many listings are selling for under asking price, and most are lingering on the market. Florida homebuyers are seeing the biggest discount.  Today’s average home listing is selling for under its asking price, and taking a long time to sell. While that’s not ideal for sellers, it’s

Most of Redfin.com’s most-viewed listings have two things in common: They’re located in tech hubs, and they’re expensive.  Seven of Redfin.com’s 10 most-viewed home listings in January were in the Bay Area, specifically the East Bay and neighborhoods near San Jose, and two were in Seattle’s eastside suburbs. One was

Julie Granahan is a Redfin Premier agent in the greater Seattle area, specializing in West Seattle and Burien. She originally joined Redfin in 2016 and quickly became one of the brokerage’s top-producing agents. She rejoined us in June 2024 after two years at Compass. We caught up with Julie to