The sky-high prices, rapid sales, and frenetic bidding wars that defined the housing crisis are reversing. The market might just be starting to heal.
The number of buyers who locked in a mortgage interest rate for a second home returned to pre-pandemic levels in May.
There is a surplus of high-end homes coming on the market right now, which means there are more options for wealthy homebuyers, according to Redfin.
The real estate brokerage's CEO said housing inventory is down to a record low, and home prices have soared 24% since last year.
A Redfin report found that the median home price rose at a record pace to $348,500 in April, with homes selling 1.4% above asking price.
Lumber prices are up 340% compared to a year ago, which only adds to the sticker shock facing homebuyers already dealing with an inventory crisis.
The housing market looks safe from a crash, but that means prices should keep rising the rest of the year, with affordability remaining a big concern.
Home availability cratered 40% during the pandemic, but contractors are finally rushing to build more units as the economy roars back to full health.
If you want to buy a house, you'll pay more than you would've last year. Redfin said the week of March 21's typical sale price showed a 16% increase.
The average house is selling for over asking price, Redfin found, the latest example of the K-shaped recovery and how 2020 broke the housing market.
Landlords are increasingly using facial recognition software and other surveillance technologies to track tenants’ movements and collect their data. The companies selling “proptech” claim their products make residents safer, but some say flaws and biases mean they’re really just accelerating gentrification and invading people’s privacy. Researchers with the AI Now […]
An analysis by Redfin found the 10 housing markets that are the least likely to see a downturn in the next recession. The study measured each metro area on seven variables. The four main, highest-weighted variables include: the ratio of median home sale prices to median household income, the ratio […]
An analysis by Redfin found the 10 housing markets that are at the greatest risk of a downturn in the next recession. The study measured each metro area on seven variables. The four main, highest-weighted variables include: the ratio of median home sale prices to median household income, the ratio […]
The luxury real-estate market is hitting a point where homes are so over-customised that they’re hard to sell. High-end homes in luxury markets like Los Angeles, NYC and the Hamptons, and London are decked out with details like basketball-court basements, bedrooms converted into recording studios, extensive security systems, and $US500,000 […]
The US housing market has been taking a beating. Home sales have been declining amid soaring home prices and rising mortgage rates, and affordability is especially acute among millennials, experts say. But a number of large US cities have ample supply of homes that are affordable on the median household […]
Real estate brokerage Redfin recently announced its list of the top 10 hottest neighbourhoods for 2019. The list was dominated by coastal cities, primarily on the west coast – and most of them had a median sales price north of $US1 million. California accounted for the majority of the list’s […]
The housing market is in trouble: Home sales dropped in every month of 2018 except for February, Business Insider’s Alex Morrell reported. A bad housing market is a bad indicator for the overall economy. But there’s one particular day that Glenn Kelman, CEO of the online real-estate brokerage Redfin, says […]