Tag Archives: San Jose

Buying vs. renting: The income gap is widening, Redfin says

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The financial gap between owing and renting has grown significantly, making the dream of homeownership more distant, according to report released by Redfin Thursday. Continue reading →

Bay Area, NYC buyers drive bidding wars as market shifts loom

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A recent Redfin report found that 20.5 percent of homes sold above asking price in February, while 64.2 percent sold below and 15.4 percent sold at their asking price nationwide. Continue reading →

Renting becomes sign of wealth as many opt against homebuying

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A recent Redfin analysis of U.S. Census Bureau, MLS and county records from 2019 to 2023 found that in 35 of the 50 largest U.S. metro areas, wealthy renters are taking over the rental market. Certain cities, including San Jose, California; Raleigh, No… Continue reading →

Insurance, property taxes taking a bigger bite of buyers’ budgets

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With the average homeowner spending $442 a month on property taxes and insurance, real estate agents and mortgage lenders are urged to help clients shop for better deals. Continue reading →

Home values have surged at 2X the normal rate since pandemic

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Since 2020, U.S. home values have risen by 45.3 percent. In other words, more than 10 years of typical home value growth has been packed into a five-year period, a new report from Zillow shows. Continue reading →

Homebuyers gain leverage as sellers cut prices: Zillow

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Prospective homebuyers have a better shot at securing a dream home as sellers continue to lower listing prices, according to a recent analysis by Zillow. Despite persistently high mortgage rates, buyers are capitalizing on these price reductions to neg… Continue reading →

Homebuyers remain sidelined despite more listing options

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Even with an uptick in new listings, homebuyers aren’t rushing into the market. Instead, demand has dipped, leaving a growing supply of homes sitting as buyers remain hesitant about their next move, according to Redfin’s latest data analysis. Over the … Continue reading →

ADUs take center stage as Los Angeles housing goes up in smoke

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As wildfires rage across California, destroying over 9,000 homes and displacing thousands of residents, accessory dwelling units (ADUs) have emerged as a critical housing solution five years after being approved in Los Angeles. ADUs, also known as gran… Continue reading →

Home tours are on the rise — but buyers aren’t making offers

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Mortgage rates continue to be a thorn in homebuyers’ side into the new year, as evidenced by a downturn in contract signings despite greater home tour activity. Redfin’s latest market report revealed its Homebuyer Demand Index, a seasonally adjusted me… Continue reading →

Home prices hit new highs in 2024. These 2 factors could ease the pain 

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Prices hit record highs in 2024, making affordability just as big a problem as it was on the eve of the 2007 housing bust. But this time, prices in most markets are expected to decelerate, not fall. Continue reading →