News

Housing Market Update: Rising Supply Draws in Some Buyers, Even as Housing Payments Soar 10% to All-Time High

There are more homes for buyers to choose from, with new listings posting their biggest uptick in nearly three years. The typical U.S. monthly housing payment hit an all-time high of $2,721 during the four weeks ending March 24, up 10%[...]
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First-Time Buyers Must Make $76,000 to Afford the Typical U.S. Starter Home–Up 8% From a Year Ago

First-Time Buyers Must Make $76,000 to Afford the Typical U.S. Starter Home–Up 8% From a Year Ago

Buyers must earn nearly twice as much as before the pandemic to afford the typical starter home, due to the one-two punch of high prices and mortgage rates. One sliver of hope: Affordability of starter homes is slowly improving after[...]
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The Typical Homebuyer’s Down Payment Is $56,000, Up 24% From a Year Ago

The Typical Homebuyer’s Down Payment Is $56,000, Up 24% From a Year Ago

The median down payment for U.S. homebuyers was $55,640 in February. That’s up 24.1% from $44,850 a year earlier—the largest annual increase in percentage terms since April 2022. The typical homebuyer’s down payment last month[...]
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Nepo-Homebuyers: More Than One-Third of Gen Z and Millennial  Homebuyers Plan to Use Family Money For Down Payment

Nepo-Homebuyers: More Than One-Third of Gen Z and Millennial Homebuyers Plan to Use Family Money For Down Payment

Young Americans who have the means are turning to family for help with down payments as housing costs soar. Working a second job is also a popular way to save for a down payment, with 2 in 5 millennials and Gen Zers doing so. More than[...]
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Housing Market Update: Listings, Sales Stumble As Sellers and Buyers Take Easter Break

Growth in new listings slowed this week as some sellers pressed pause over Easter. Housing costs remain stubbornly high, deterring some buyers–but Redfin economists say costs could come down soon.What sellers are doing: New listings[...]
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