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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 […]
May 16, 2024
Pending home sales are down and new listings are flat during a time of year when they typically rise. But this week’s softer-than-expected inflation report sent mortgage rates down, which could bring back some homebuyers and sellers. Pending home sales fell 4.3% from a year earlier during the four weeks ending May 12, the biggest […]
May 15, 2024
Investor purchases climbed 0.5% from a year earlier in the first quarter—the first uptick since mid-2022. California markets saw the largest increases, with investor purchases jumping more than 20% in San Jose and Oakland. Investors are coming off of the sidelines partly because they’re making more money; the typical home sold by an investor in […]
May 13, 2024
Demand for second-home mortgages fell twice as fast as mortgage demand for primary homes, as housing costs rose to new heights. An early look at this year’s data shows that demand for vacation homes hasn’t picked up in 2024; interest in second-home mortgages has been sitting near an 8-year low all year. Many of the […]
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