Here’s a quick-hit summary of housing market headlines this week, featuring reports from Redfin; Bankrate.com; Black Knight; and Fitch Ratings.
Tag: Daryl Fairweather
One-Quarter of Homebuyers Are Moving–Or Moving Sooner Than Planned–Due to Pandemic
Redfin, Seattle, said three-quarters of homebuyers who plan to buy a home within the next 12 months say the coronavirus pandemic has changed their homebuying plans.
Record Share of Homebuyers Make Sight-Unseen Offers
Redfin, Seattle, said nearly half (45%) of people who bought a home in the past year made an offer on a property that they hadn’t seen in person, the highest share since at least 2015.
For Single Women, Minorities, Divergent Paths on Homeownership
Two reports show that homeownership opportunities for key segments of the economy—single women and minorities—continue to move in different directions.
Redfin: 44% of Home Buyers, Sellers See Drop in Home Prices in Recession
Just one-third of home buyers and sellers expect home prices to increase when the next recession hits, according to Redfin, Seattle.
Home Buyers Have More Purchasing Power, But Face Inventory, Coronavirus Headwinds
A dramatic drop in mortgage interest rates, driven by coronavirus fears, has given homebuyers a big boost in purchasing power in recent weeks, according to an analysis from Redfin, Seattle.
Housing Shortage Brings Upsurge in Bidding Wars
Redfin, Seattle, said a majority of offers submitted by its agents faced competition in January, marking a return to widespread bidding wars that had largely dissipated over the past year.
Redfin: January Home Prices Up 7%; Housing Supply Falls 11%
Redfin, Seattle, said the imbalance between demand from homebuyers and supply of homes for sale is heating up many markets across the U.S.
Homes Sold Above List Price Fall to 3-Year Low; Luxury Homes Pick Up
Zillow, Seattle, said the share of U.S. homes that sold for more than their list price in 2019 fell to 19.9%, the lowest annually since 2016.
Redfin: New Home Sales Surge in Fourth Quarter as Inventory Tumbles, Prices Flatten
Redfin, Seattle, said new home sales rose by 8.8% year over year in the fourth quarter, the biggest gain in more than two years and the third consecutive quarter of increases, driving continued depletion of inventory in the market.