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May 21, 2024
Home prices grew 0.5% in April, the sixth consecutive month of similar increases. Elevated mortgage rates are curbing homebuyer demand, but prices continue to tick up because there aren’t enough homes for sale. U.S. home prices climbed 0.5% from a month earlier in April on a seasonally adjusted basis, and rose 7.3% from a year […]
May 20, 2024
The share of houses for sale that are brand new is hovering at a level that’s nearly double the pre-pandemic rate. One-third (33.4%) of single-family homes for sale in the U.S. in the first quarter were newly built, essentially unchanged from a year earlier but down from a record-high 34.5% two years earlier. The portion […]
May 20, 2024
2 in 5 new mortgages issued last year went to buyers under 35, and 27% went to buyers aged 35-44. Young people take out the majority of mortgages because they’re of prime homebuying age, gaining financial stability and growing families. Plus, they’re less likely than older people to pay cash. Buyers under 35 took out […]
May 17, 2024
The median home sale price rose 6% year over year to $434,000 as a lack of new listings buoyed prices. The total number of homes for sale hit a four-year high, but that’s partly because some houses are sitting stale on the market after being priced too high. 18% of homes for sale in April […]
May 17, 2024
Nine of the 10 metros facing the steepest drops in asking rents are in the Sun Belt. The exception is Seattle, where rents fell 7% year over year in April—the biggest decline among the metros Redfin analyzed. Nationwide, the median asking rent rose 1% to $1,648—the first increase in a year. The median asking rent […]
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