News

Rental Market Tracker: Asking Rents Rise 14% in June, the Smallest Increase Since October

Rental Market Tracker: Asking Rents Rise 14% in June, the Smallest Increase Since October

Rent increases tapered off in June, with the national median asking rent rising 14% from a year earlier—the smallest annual increase since October. Asking rents were up 0.7% from May, the smallest month-over-month gain since the start[...]
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Homebuyer Competition Drops to Lowest Level in Over Two Years

Homebuyer Competition Drops to Lowest Level in Over Two Years

Nationwide, 49.9% of home offers written by Redfin agents faced competition on a seasonally adjusted basis in June. That’s the lowest share since May 2020 and the first time the bidding-war rate has been below 50% since that same month,[...]
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Housing Market Update: Homes Are Taking Longer to Sell

Housing Market Update: Homes Are Taking Longer to Sell

The typical home sold during the four weeks ending July 17 spent 19 days on the market, one day longer than last year. This marks the first time in two years that the median time on market has posted a year-over-year gain. Pending home sales[...]
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Housing Market Update: Prices Begin to Fall from Record Highs

The median sale price for U.S. homes came down 0.7% from its record-breaking June peak during the four weeks ending July 10. Sellers’ asking prices also came down 3% from their May peak as the share of homes with price drops hit another new[...]
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The Bay Area Housing Market Is Cooling More Rapidly Than Anywhere Else in the Country

The Bay Area Housing Market Is Cooling More Rapidly Than Anywhere Else in the Country

Housing markets in northern California are cooling faster than anywhere else in the U.S. amid high mortgage rates and a faltering stock market.Five of the 10 U.S. housing markets that have cooled fastest this year are in northern[...]
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