U.S. home prices rose 0.6% in November–the smallest increase since June–as a jump in the number of homes for sale gave buyers more options, the Redfin Home Price Index reported Tuesday.
Tag: Sheharyar Bokhari
Down Payments Fall 10% from Year Ago as Housing Market Cools
Redfin, Seattle, said the typical U.S. homebuyer’s down payment fell 10% year over year in January to $42,375, its lowest level in nearly two years.
Typical Home Changes Hands Every 12 Years, Down from 2020 Peak
Redfin, Seattle, reported the typical U.S. homeowner has spent 12.3 years in their home, down from the peak of 13.4 years hit in 2020 and 12.9 years in 2021.
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 Oct. 6, 2022
Here’s a summary of recent housing/economic reports that have come across the MBA NewsLink desk:
Inflation Hitting Millennial, Gen Z Renters Harder than Others
Millennials who took on a new rental lease in July saw their overall cost of goods and services increase 11.6% year over year, substantially higher than 8.5% for the U.S. population as a whole, said Redfin, Seattle.
Homebuyer Income Soars in Housing Hotspots
If you build it, they will come; and they’ll bring buying power (and they’ll need it, too).
Home Sellers Dropping Asking Price in Most Metros
Price drops have become a common feature of the cooling housing market, particularly in places that were popular with homebuyers earlier in the pandemic, reported Redfin, Seattle.
Vacation Home Buyers Ignore Natural Disaster Risk
Redfin, Seattle, said pandemic-era second home and vacation home buyers are largely ignoring natural disaster risk.
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.