Redfin, Seattle, reported 33.4% of home purchases in April were all-cash, almost the highest share in nine years and up from 30.7% in April 2022.
Tag: Redfin
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.
Homebuyers See Relief from Prices, Monthly Payments
Redfin, Seattle, said homebuyers in many markets are starting to see relief from home prices and monthly payments.
Redfin: Home Relocation Near Record High
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.
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 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.
Homebuyers, Sellers Shift on Climate Risk Issues
Earlier this year, you could get a bidding war for swampland in Florida. Now, said Redfin, Seattle, homebuyers and sellers are getting pickier—and particularly when it comes to climate risk.
Typical Homebuyer’s Mortgage Payment Up 15% Since Mid-August
Talk about a wallop to the wallet: the typical homebuyer’s monthly mortgage payment has climbed $337 (15%) over the past six weeks, according to a report from Redfin, Seattle.
Staying Put: 85% of Homeowners with Mortgages Have Rate Far Below Current Level
With mortgage interest rates pushing well above 6 percent—even approaching 7 percent—a growing number of homeowners are reluctant to sell because they have a lower rate locked in, said Redfin, Seattle.
Record Share of Homebuyers Relocate, Driven by Moves Away from Expensive Coastal Areas
A record 33.9% of Redfin.com users nationwide looked to move from one metro to another in July and August, up from 32.6% in the second quarter and 26% before the pandemic.