With home prices up 16% from a year ago and mortgage rates rising, many Americans are searching for homes in more affordable areas. The share of homebuyers moving from one part of the country to another is at a record high. Nationwide, 32.3% of Redfin.com users looked to relocate in January and February. That’s up from
Use unique strategies to make your offer stand out, such as releasing the earnest-money deposit early, and making it nonrefundable. Waive the appraisal contingency if you can. Don’t expect a counter-offer; put in your best and highest offer right away. Consider putting in an offer early, several days before the review deadline, and maybe
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 week to search for homes on
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. Demand was still up 35% from pre-pandemic levels, but that’s significantly
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’t in 2021, making it
The typical Phoenix home price rose by the cost of a Porsche, and Boston prices rose by the cost of a Honda minivan, per a Redfin analysis. A homebuyer today could purchase the typical Austin home for $485,000. But if they could go back in time to January 2021, they could have bought a home
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