News

Almost a Third of Homes for Sale Are New Construction—the Highest Share of Any Third Quarter on Record

Nationwide, 30.6% of U.S. single-family homes for sale in the third quarter were new construction—the highest share of any third quarter on record. That’s up from 28.9% one year earlier and 25% two years earlier.Newly built homes[...]
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Housing Market Update: Listings Tick Up, But Buyers Back Off

New listings have inched up this fall, giving the buyers who remain in the market a few more homes to choose from. But many buyers are retreating as mortgage rates stay elevated.What home sellers are doing: A few more homeowners are putting[...]
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Housing Market Update: 2023 on Pace For Fewest Home Sales Since 2008 As Mortgage Rates Hit 8%

Redfin economists say this is likely to be the slowest sales year since the Great Recession as persistently high mortgage rates and low inventory spook buyers. This year is likely to end with roughly 4.1 million existing home sales[...]
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Rental Market Tracker: Asking Rents Flattened in September Amid Growing Apartment Supply

Rents are flattening out after going on a rollercoaster ride during the pandemic.The median U.S. asking rent rose 0.4% year over year to $2,011 in September—the sixth straight month in which rents were little changed from a year[...]
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Homebuyers Must Earn $115,000 to Afford the Typical U.S. Home. That’s About $40,000 More Than the Typical American Household Earns.

Sky-high mortgage rates and still-rising home prices have made it harder than ever to afford a home, especially for first-time buyers. The typical buyer needs to earn 15% more than they did a year ago–and wages are only up 5%.It’s[...]
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