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.

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.

Housing Market Roundup Nov. 9, 2021

We’re starting to get a lot of year-end housing market reports—which means we should be soon getting 2022 forecasts. Here is a roundup of recent reports to come across the MBA NewsLink desk:

Share of Migration Slows; ‘High-Crime’ Neighborhoods Take a Hit

Nationwide, 30.2% of Redfin.com users looked to move to a different metropolitan area in the third quarter, down from 31.1% in the second quarter, marking the second-straight quarter of declines following four-consecutive quarters of increases.

Demand For Vacation Homes Falls for First Time in a Year

Redfin, Seattle, said buyers who locked in mortgage rates to purchase a second home nationwide fell 11.1% year over year in June, a reversal from the yearlong surge in demand for vacation homes driven by the pandemic.