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: Taylor Marr

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.

More Willing to Relocate to Buy Affordable Home
Homebuyers—particularly first-time buyers squeezed by competition and soaring home prices—are considering many options, including relocating to other parts of the country, said Bankrate, New York. And according to a similar report from Redfin, Seattle, migrating could be their best option.

Sun Belt Housing Hotspots See the Highest Inflation
Some hot migration destinations for homebuyers including Phoenix, Tampa and Atlanta have the highest inflation rates in the U.S., reported Redfin, Seattle.

Sun Belt Housing Hotspots See the Highest Inflation
Some hot migration destinations for homebuyers including Phoenix, Tampa and Atlanta have the highest inflation rates in the U.S., reported Redfin, Seattle.

Record 8% of U.S. Homes Worth at Least $1 Million
Redfin, Seattle, reported a record 8.2% of U.S. homes—six million—valued at $1 million or more in February, up from 4.8% (3.5 million) two years earlier, just before the coronavirus was declared a pandemic.

Nearly 6,000 Homes Sell for $100,000 Above Asking Price So Far in 2022
Redfin, Seattle, said low housing inventories, rising mortgage rates and double-digit home price increases have homebuyers willing to pay up—and up and up.