Real Estate News Today

Daily average mortgage rates reached their highest level in nearly five months following Wednesday’s hotter-than-expected inflation report,  which will likely keep mortgage rates elevated for the foreseeable future.  The median monthly U.S. housing payment hit an all-time high of $2,747 during the f

Nearly 20% of recent buyers have no idea who paid their agent and how the amount was determined.  39% of homeowners with plans to sell think a 3% buyer’s agent commission seems high, but nearly the same share think it seems just about right. More than one-quarter of recent homebuyers (28%) have no i

AuthorChris Spina.  Date: April 10, 2024 5:09 pm Get real insight on the NAR Settlement from a Realtor with 26 years of experience. Find out what the NAR Settlement means for you. The post NAR Settlement: What it Means for Home Buyers and Sellers appeared first on FastExpert.

The March inflation report came in hotter than expected, which means the Fed is highly unlikely to cut interest rates in June–and could mean the Fed only cuts rates once this year. The news is already pushing up mortgage rates.  Higher-than-expected inflation in March means that the Fed will almost

The share of San Francisco sellers losing money on their home sale is sitting near its highest level in more than a decade, largely because prices have come back down to earth after skyrocketing during the pandemic.  Nationwide, the share of sellers losing money is much smaller (4%) because home pri

The median U.S. asking rent rose 1% from a year earlier. By comparison, rents jumped 5% in the Midwest—in part because the region hasn’t seen as big of a construction boom as other parts of the country. The median U.S. asking rent rose 0.8% year over year to $1,987 in March, marking the third consec

AuthorAmanda Dodge.  Date: April 8, 2024 4:47 am On average, homeowners spend $5,400 improving their homes before listing them for sale. They invest in landscaping services, pressure washing, deep cleaning, and other improvements to make the property more desirable. Most upgrades strike a balance be

AuthorAmanda Dodge.  Date: April 7, 2024 7:53 am Buying a house as a married couple is a significant step in your partnership. This could potentially be the home where your kids grow up or where the two of you make countless happy memories. Homeownership is exciting, but it is also a major financial

AuthorAmanda Dodge.  Date: April 5, 2024 10:02 pm The average credit score in the United States is 716, with credit levels varying by age. Members of Gen Z, who are still growing their wealth and credit history, have a credit score of 680 on average. If you have a low credit score, you might worry t

Employment growth was strong in March, which ultimately means mortgage rates are likely to stay higher for longer. But next week’s inflation data is the main factor the Fed will take into consideration.  The March jobs report came in hot. Strong growth in U.S. employment makes it more likely the Fed

NAR Announces Partnership With SoFi NAR members and their clients will receive exclusive rates and discounts on mortgages, student loan refinancing, personal loans and more. Media Contact:  Spencer High 202-383-1051

Half of homeowners and renters struggle to afford their housing payments, a recent Redfin survey found. Roughly 1 in 5 people who struggle to afford housing have skipped meals and/or worked extra hours to help cover costs, while about 1 in 6 have delayed medical care. Skipping vacations was the most

Growth in new listings slowed this week as some sellers pressed pause over Easter. Housing costs remain stubbornly high, deterring some buyers–but Redfin economists say costs could come down soon. What sellers are doing: New listings of U.S. homes for sale rose 8.4% from a year earlier during the fo

AuthorKelsey Heath.  Date: April 4, 2024 7:18 am Let’s be honest – the thought of selling your home can be downright stressful. You’ve likely put years of love and labor into making it your own. But now, things are changing. Maybe you got a new job in another state, or your family is expanding, and

2024 Fair Housing Champion Award Winners Announced Award recipients are celebrated for contributions to communities and efforts in promoting homeownership to individuals from all backgrounds. Media Contact:  Tori Syrek Fair Housing

Award season is upon us, and I’m proud to say Redfin has again ranked among the top 10 real estate brokerages nationwide, according to the RealTrends Verified Brokerage Rankings and the RISMedia Power Broker Report. In 2023 Redfin closed 46,549 transactions, totaling more than $27B in sales, earning

Spring is officially here, and we’ve been busy welcoming some amazing agents and managers across the country to help us kick off a busy homebuying season. Please join me in recognizing all of the new folks who joined us in February and March! Redfin Agent Ginger Pickett This crew is full of talented

Millennials Once Again the Largest Group of Home Buyers Millennials have eclipsed baby boomers to become the largest group of home buyers, marking a significant shift in housing market demographics. Media Contact:  Spencer High 202-383-1051

Older Americans who own their home are staying put largely because they’re financially incentivized to do so. It’s contributing to the shortage of homes for sale.  We asked baby boomers in a recent survey what they anticipate their living situation to be as they grow older. The most common response:

Over one-third of home purchases in February were made in all cash—not far from the record high. The median down payment for U.S. homebuyers was $55,640 in February. That’s up 24.1% from $44,850 a year earlier—the largest annual increase in percentage terms since April 2022.  The typical homebuyer’s