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January Was the Most Competitive Month on Record for Homebuyers

January Was the Most Competitive Month on Record for Homebuyers

Seventy percent of home offers written by Redfin agents faced bidding wars in January on a seasonally adjusted basis, up from 67.7% in December and 61% in January 2021. That’s the highest share since at least April 2020, when Redfin began[...]
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Housing Market Update: Homebuyers’ Monthly Payments Up 25% to Record High

Housing Market Update: Homebuyers’ Monthly Payments Up 25% to Record High

The estimated monthly mortgage payment for a typical home for sale rose 25% year over year—or $388—to a record $1,931. That’s based on the all-time high median asking price of $376,000 recorded during the four weeks ending February[...]
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Vacation-Home Boom Continues Into 2022, With Demand Up Nearly 90% From Pre-Pandemic Levels

Vacation-Home Boom Continues Into 2022, With Demand Up Nearly 90% From Pre-Pandemic Levels

Demand for second homes hit its highest level in a year in January, with affluent Americans locking in mortgage rates before they increase further. Meanwhile, demand for primary residences was up 42% from pre-pandemic[...]
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The Value of Austin’s Housing Market Surged Nearly 40% in the Past Year—Twice as Fast as the U.S.

The Value of Austin’s Housing Market Surged Nearly 40% in the Past Year—Twice as Fast as the U.S.

The total value of U.S. homes surged 18.6% ($6 trillion) over the past year—to a record $38.6 trillion in December 2021 from $32.6 trillion in December 2020—as housing prices continued to climb amid a severe shortage of homes for sale.[...]
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Housing Market Update: Expect Price Growth to Slow, Sales to Stay Flat as Mortgage Rates Approach 4% This Year

Housing Market Update: Expect Price Growth to Slow, Sales to Stay Flat as Mortgage Rates Approach 4% This Year

Home-price growth, which has been in the double digits since Summer 2020, is expected to slow to an annual rate of 7% by the end of 2022, according to a new forecast by Redfin economists. Home sales are expected to remain relatively flat[...]
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