Tag Archives: Redfin

According to a new report from Redfin, investor home purchases fell significantly during Q2 2023. Click through to learn what factors are in play.

For the first time on record, Myrtle Beach, South Carolina, has made it onto the list of most popular migration destinations, as homebuyers continue to flock to warmer, more affordable cities like Las Vegas and Sacramento.

Mortgage rates hovering around the 7% mark are cutting into buyers’ budgets, according to a new report from Redfin. It found that a buyer on a $3,000 monthly budget can afford a home valued at $429,000, assuming a 7.4% mortgage. But how does this stack up when compared to last year?

Home prices were up 3% year-over-year, despite stunted demand due to a shortage of homes, as inventory nationwide posts its biggest slide in 18 months.

Homebuyers are turning to newly built properties amid the severe inventory shortage, according to a new market report from Redfin, which revealed new construction homes made up 31.4% of single-family homes on the market nationwide in Q2.

The last market peak occurred in June of 2022 when the real estate market set its all-time high of $46.6T, but now a shortage of homes has propped up sales, pushing valuation numbers ever skyward.

While many Americans continue to struggle with housing affordability, a new study from Redfin shows that homes in high-opportunity neighborhoods are not only selling for roughly $130,000 more, but they are also disproportionately white. Meanwhile, homes in low-opportunity areas are becoming less affordable due to gentrification.

According to a new report from Redfin, just 8% of single-family homes throughout the country are worth more than $1 million, a number which has retreated from an all-time high of 8.6% from just over a year ago.

Nationwide, rents are nearing their all-time high, according to a new market report from Redfin, but rent gains have nevertheless cooled over the past year due to an increase in supply, as economic uncertainty and inflated home prices continue to deter buyers.

The median U.S. home-sale price is up 3.2% year over year, the biggest increase since November, and mortgage rates remain elevated.