Real Estate News Today

Bidding wars are intensifying at a slower pace than they were at the start of the pandemic. Nationwide, 68.6% of home offers written by Redfin agents faced bidding wars on a seasonally adjusted basis in February—the highest level in Redfin’s records, which date back to April 2020. That’s up slightly

Record-low supply spurs unprecedented winter homebuying competition. The median home sale price rose 3.5% between January and February, the fastest month-over-month gain ever seen during the winter months. Prices were up 16% year over year to an all-time high of $389,500 in February as the number of

Pending home sales continued to outpace 2021 even as the listing shortage dragged on and mortgage rates shot up to above 4% for the first time since May 2019. The U.S. median home sale price surged 7% during the four-week period ending March 13—the largest month-over-month increase on record in Redf

Video Series to Help Veterans Achieve Homeownership NAR and the U.S. Department of Veterans Affairs have released a two-part educational video series on the VA Home Loan Guaranty Program. Media Contact:  Emily Newman 202-383-1287 Veterans Affairs

House hunters are most active on Tuesday evenings, right in the middle of the workweek.  In the midst of today’s red-hot housing market, Americans are sitting in their home offices, “working” remotely and browsing Redfin for bigger, fancier home offices … right? Wrong. The most popular time of the w

The vacation-home boom started fading in February, partly because of rising mortgage rates. Still, demand for second homes is 35% above pre-pandemic levels. Demand for vacation homes dropped sharply in February, with mortgage-rate locks for second homes reaching their lowest level since May 2020. De

Cash is king when competing for a home, but a buyer’s odds of winning a bidding war also increase significantly by waiving the financing contingency or conducting a pre-inspection.  Prospective homebuyers who offered all cash were more than four times as likely to win a bidding war as those who didn

The housing market is worked into a frenzy, unfazed by war in Ukraine, a faltering stock market, and fast-rising gas prices. Three out of five homes that went under contract during the four week period ending March 6 found a buyer within two weeks, an all-time high, as supply shrank to a new low. Re

Today’s house hunters have half as many homes to choose from after surging demand driven by remote work and low mortgage rates intensified the housing shortage. Homes are 34% more expensive, with the median sale price now at $369,000. Buyers are twice as likely to pay above list price as they grappl

That’s nearly double the pre-pandemic share. The biggest jump was in Anaheim, where 55% of homes were worth $1 million or more in February, up from 27% two years earlier. As expensive homes take up a larger chunk of the housing market, many Americans are getting priced out. Nationwide, a record 8.2%

10-Year Housing Wealth Gains for Middle-income Owners Homeownership is the leading source of net worth among families, and housing wealth is primarily achieved by price appreciation gains. Media Contact:  Quintin Simmons 202-383-1178

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 for at least $100,000

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 Resi

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

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 this report is from

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 des

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-Novembe