The share of Redfin.com users looking to move to a different metro area is near its record high as high rates and prices up the appeal of affordable places.
Tag: Redfin
Redfin: Home Price Growth Cooling in ‘Pandemic Boomtowns’
Home-price growth has slowed fastest in pandemic boomtowns, including Austin, Phoenix and Boise, as high mortgage rates and an uncertain economy deter would-be buyers, said Redfin, Seattle.
Housing Market Roundup Nov. 23, 2022
We’ve had a flurry of reports ahead of the Thanksgiving holidays; here’s a quick summary of what’s happening:
Industry Briefs Nov. 18, 2022: Revvin Releases HELOC-Ready Workflows
Revvin, Chicago, released a set of HELOC-specific workflows that make it easier for lenders to attract home equity line of credit applicants and gather the required information for delivery to the lender’s LOS.
Income Needed to Afford Typical U.S. Home Jumps By 46% From Year Ago
Homebuyers across the country need to earn substantially more money than they did a year ago to buy a home, due to high mortgage rates and persistently high home prices, said Redfin, Seattle.
Record-High 3Q Homes for Sale New Construction
Redfin, Seattle, reported new construction took up a record percentage of housing inventory in the third quarter, partly filling a gap left by hesitant existing homeowners as the housing market slows.
Record-High Number of Homebuyers Ready to Move Elsewhere
Redfin, Seattle, said rising mortgage rates and persistently high home prices are motivating many buyers who remain in the market to relocate to more affordable areas.
Pending Home Sales Fall 4th Straight Month
Pending home sales for the fourth consecutive month in September, the largest single monthly decline since onset of the coronavirus pandemic, the National Association of Realtors reported Friday, with all four regions reporting both month-over-month and year-over-year declines in transactions.
Industry Briefs Oct. 31, 2022: Chase Home Lending Announces $2,000 Closing Costs for Veterans, Servicemembers
Chase Home Lending, New York, announced a $2,000 VA Purchase Closing Cost Benefit to support homeownership for veterans, servicemembers and their families. The benefit is available to servicemembers and veterans purchasing a primary residence with a VA mortgage loan.
Industry Briefs Oct. 25, 2022: NewDay USA to West Palm Beach?
NewDay USA, Fulton, Md., is expanding and taking occupancy with 250 employees in the top two floors of 360 Rosemary, a 20-story, 297,000-square-foot office building in West Palm Beach, Fla.. In addition, the company is in negotiations with Related Co. to relocate its Maryland-based headquarters to West Palm Beach.