Tag Archives: Redfin

According to the Realtor.com, the average rental vacancy rate was 7.6% in Q4 of 2022, as rent January marked the 12th consecutive month of slowing rent growth.

“A dip in mortgage rates brought some buyers off the bench in January, but the housing-market recovery was tempered by still-high housing costs and a limited number of homes being listed for sale,” said Redfin Deputy Chief Economist Taylor Marr.

According to a new report from Redfin, home values are holding up better in suburban areas than in cities, which have seen an influx of residents due to remote work.

The share of homes investors are purchasing is slowing, with some cities seeing activity decrease by more than 60%.

A sign of future activity, mortgage-purchase applications are up, although pending home sales are down 20% year-over-year.

A new Redfin report revealed that after Sacramento and Las Vegas, Miami was the most popular migration destination in Q4, followed by Tampa and Phoenix.

Declines in pending home sales were found by Redfin in pandemic homebuying hotspots of Las Vegas, Phoenix, and Austin, with each city reporting that pending sales plummeting more than 50%.

Redfin reports that the luxury and investment home market has slid 38.1% year-over-year, due to lingering inflationary concerns, high interest rates, and fears of a recession.

As home prices and mortgage rates fall from their peak, the typical homebuyers’ monthly housing payment declined nearly $300 from October, according to a new report from Redfin.

According to a new report, the share of Redfin users moving away from their home metro is nearing a record high as 6%-plus mortgage rates and inflation continue to cut into homebuyers' budgets.