Renter households increased by 2.7 percent year-over-year in the third quarter to a record 45.6 million, a rate three times higher than the 0.9 percent uptick in homeowner households, according to a new Redfin analysis. Continue reading
Only 32.1 percent of renter households currently pay less than $1,000 in monthly rent — a sharp decline from 35.2 percent in 2022 and 50.4 percent in 2012, according to an analysis from Redfin released Wednesday. Continue reading
In August, nearly half of all U.S. homes had been on the market for 60 days or more, according to Redfin. Days on market has ticked up as high rates have slowed sales. Continue reading
Affordability continues to create challenges for would-be buyers, keeping renters in place for longer, according to a new report from Redfin. Continue reading
Nine of the 10 cities with the steepest drops in rent in April were in the Sun Belt, according to Redfin. Continue reading
Strategic migration, low inventory and a demand for larger spaces have also contributed to rising luxury prices, agents told Inman, depending on the specific market. Continue reading
Empty nest baby boomers own 28.2 percent of the large homes in the United States — twice as many as millennials with kids. Continue reading
The annual paycheck for a first-time homebuyer is roughly $64,500 to afford the typical U.S. “starter” home in 2023 — up 13 percent from a year ago, according to a report from Redfin. Continue reading
A new report released by Redfin found that 33.4 percent of home purchases were made in cash during April 2023 — up from 30.7 percent a year earlier. Continue reading
Investor profits are falling, and the number of investors losing money reached the highest point since 2016, according to a new report from Redfin. Continue reading