Redfin, Seattle, said demand for vacation homes has fallen below the pre-pandemic baseline for the first time in two years, with mortgage-rate locks for second homes down 4 percent from before the pandemic in May.
Tag: Redfin
Homebuyers on $2,500 Monthly Budget Lose $118,000 in Spending Power in 2022
Redfin, Seattle, said a homebuyer on a $2,500 monthly budget has lost nearly $120,000 in spending power since the end of last year as mortgage rates have nearly doubled.
Single-Family Rental Investors Purchasing Fewer Houses
Redfin, Seattle, reported single-family rental real estate investors purchased fewer houses in the first quarter than in prior quarters.
Luxury Home Sales See Biggest Decline Since Start of Pandemic
Redfin, Seattle, said sales of luxury U.S. homes fell 17.8% year over year during the three months ending April 30, the largest drop since the onset of the coronavirus pandemic sent shockwaves through the housing market.
A Summer Housing Market Cooldown?
Reports from House Canary, Washington, D.C., and Redfin, Seattle, point to slowing housing market activity this summer following a breakneck pace over the past two years.
Multifamily Posts Broad Gains; Asking Rents Top $2,000
Multifamily performance continued its strong run in May, reported Yardi Matrix, Santa Barbara, Calif. In a separate report, Redfin, Seattle, said median monthly asking rents topped $2,000 for the first time.
2nd Home Hotspots See Outsized Growth in Rental, Home Prices
As remote work prompted many Americans to relocate during the pandemic, housing costs soared in second-home hotspots even more than the rest of the country, according to Redfin, Seattle.
Housing Market Roundup June 7, 2022
Here’s a summary of recent housing reports that have come across the MBA NewsLink desk:
Redfin: Homes with High Fire Risk Sell for More as Americans Flock to Fire-Prone Areas
Redfin, Seattle, said its analysis of homes for sale in high fire-risk areas found the median sale price of U.S. homes with high fire risk was $550,500 in April, compared with $431,300 for homes with low fire risk—a difference of nearly $120,000.
Industry Briefs June 2, 2022: Talk’uments Launches Digital Language Services in Six Languages
Limited English Proficiency technology provider Talk’uments, Chevy Chase, Md., now offers digital language services to mortgage lenders in English, Spanish and Mandarin (Chinese), and plans to introduce services in Vietnamese, Korean and Tagalog by the end of the year.