Real Estate News Today

Many homeowners are staying put because today’s housing costs are so high.  More than one-third (34%) of U.S. homeowners say they’ll never sell their home, according to a recent Redfin-commissioned survey. Another 27% say they wouldn’t consider selling for at least 10 years. Roughly one-quarter (24%) plan to sell in

A household earning the median U.S. income would have had to spend 41.8% of their earnings on monthly housing costs to buy the typical home in 2024, a slight improvement from 42.2% in 2022. A homebuyer needed to earn an annual income of at least $116,782 if they wanted to

Supply increased from a year earlier to close out 2024, while pending home sales posted a small decline as mortgage rates remained near 7%. We’re taking a break from analysis this week, but please see the tables and charts below for the latest housing-market data. We’ll be back with full

Over half of home listings last month sat on the market for 60 days or longer—the highest November share since 2019. That’s a major reason housing supply jumped 12%. Active listings—the total number of homes for sale—climbed to the highest level since 2020 in November on a seasonally adjusted basis,

33.6% of U.S. renters have lived in the same home for at least five years, up from 28.4% a decade ago. Baby boomers stay put the longest, with more than a third having been in their rental at least a decade. Gen Z renters move the most, with more than

AuthorAmanda Dodge.  Date: December 29, 2024 2:31 am There are several financial benefits of homeownership. You can grow your wealth over time by paying off a piece of property and can enjoy stable monthly payments if you have a fixed mortgage. While the overall costs of owning a home are

Active listings are rising in part because many homes are lingering on the market, causing supply to pile up. We’re taking a break from analysis this week, but please see the tables and charts below for this week’s housing-market data. We’ll be back with full commentary after the holidays.  Note:

Home prices grew 0.5% month over month in November, the third consecutive month with a 0.5% increase. On a year-over-year basis, home prices rose 5.7%, the smallest annual increase since October 2023. 14 of the 50 most populous U.S. metros recorded a drop in home prices month over month. U.S.

The holiday season is in full swing, and no one is feeling it more than our recruiting team! I want to take a moment to recognize all of the new agents who decided to join Redfin amid a very busy season. Please join me in giving our November Newfins a

Home sales are up 28% year over year in Portland, OR—the biggest gain of any major U.S. metro. Next come San Jose, Seattle and San Francisco, which also saw double-digit increases. In Portland, OR, home sales jumped 27.6% year over year in November—the biggest increase among the 50 most populous

Mortgage rates are seeing some relief today following a number of important economic developments. What’s driving the move in rates? Here’s our take: Potential government shutdown: New developments are coming every hour, but as of Friday afternoon there’s a chance the government could shut down going into the holidays. In

Homeowners with kids living under their roof are much more likely to receive help from family with down payments and/or monthly mortgages than their no-kids counterparts, according to a recent Redfin-commissioned survey. That’s partly because they’re buying bigger, more expensive homes. One-quarter (25%) of recent homebuyers who have kids living

AuthorAmanda Dodge.  Date: December 19, 2024 2:59 am Owning a home requires you to have a clear picture of your finances. Not only do you need to know what to budget each month for various expenses, but you also have to be aware of tax savings. From deducting mortgage interest

The Fed cut the fed funds rate by 25 bps on Wednesday, as widely expected, but mortgage rates increased as the Fed reduced its 2025 projections from four cuts to two amid stickier-than-expected inflation and considerable policy uncertainty. Fed officials cut the fed funds rate for the third meeting in

Homebuying activity picked up in November as election uncertainty dissipated and buyers grew more accustomed to elevated mortgage rates. Existing home sales for the full year will likely be in line with 2023 levels, but we expect activity to tick up in 2025. Existing home sales rose 0.7% month over

37% of home purchases made by people 65+ occur in counties with high risk of extreme heat, compared with 32% of purchases made by people under 35. The same trend holds true for flood and fire risk. Nearly all homes (96%) face high heat risk in the counties where 65+

52% of U.S. apartments were rented within three months, down from 54% a quarter earlier. Newly-built 3+ bedroom apartments rented out faster in the third quarter than other bedroom types. One-bedroom and two-bedroom apartments rented out slower as completions climbed by more than 20%. Just over half (52%) of newly

The median asking rent for a new apartment rose 1.5% year over year to $1,802 in the third quarter. Asking rents fell in the Northeast, while rising in the South, West and Midwest regions. New apartment completions rose to the highest level in at least 12 years, with the biggest

AuthorAmanda Dodge.  Date: December 16, 2024 2:08 am Several risks come with not paying your credit card bills. You may accrue late fees and interest that further increase your debt, your credit card company may send your account to collections, and you may have a damaged credit score – making

47% of renters feel a sense of belonging in their neighborhood, compared with 64% of homeowners, according to a new Redfin survey. 39% of renters feel they have things in common with their neighbors, compared with 59% of homeowners.  42% of renters try to avoid interacting with their neighbors, versus