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
With an influx of tech and entertainment giants like Tesla and Universal Studios, not to mention a rising tide of millennial buyers, Texas is bursting at the seams as agents rush to find new listings. Continue reading
A drop in supply was enough to offset the drop in demand, sending prices up 2.6 percent in July. That’s the biggest jump since November, according to Redfin. Continue reading
Major real estate companies began reporting Q2 earnings this week against a backdrop of high rates, low inventory and a sluggish economy. Analysts shared what they’re watching with Intel. Continue reading
Migration into flood- and wildfire-prone counties has more than doubled since the COVID-19 pandemic began, according to a Redfin analysis of domestic migration data released Monday. Continue reading
In an interview with CNBC on Wednesday, Redfin CEO Glenn Kelman laid out some of the variables that might begin to unlock home inventory in the years to come, including adjustable rate resets. Continue reading
Thanks to low inventory and high mortgage rates, just 14 homes out of 1,000 changed hands in the first six months of 2023, the lowest rate in a decade, according to data released Tuesday by Redfin. Continue reading
Undeterred by elevated mortgage rates, homebuyers battling over scant inventory pushed June’s median sales price to the second-highest level in history, according to new data released Monday by Redfin. Continue reading
It doesn’t matter that there are fewer buyers to compete against. Rising mortgage rates and depleted inventory continue to erode options. Continue reading
Despite having cooled for more than a year, the median asking rent in the U.S. remained just $24 below its all-time high as of June 2023, Redfin reported. Continue reading