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Housing Market Update: Homebuyers Undeterred by Declining Listings—Pending Sales up 32%, New Listings Down 10%

Housing Market Update: Homebuyers Undeterred by Declining Listings—Pending Sales up 32%, New Listings Down 10%

“Even with prices soaring and the number of homes for sale at an all time low, homebuyers are moving as quickly as they can to buy every home that comes on the market,” said Redfin chief economist Daryl Fairweather. “Many homeowners[...]
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Housing Market Update: First New-Listings Decline in 5 Months Portends a 2021 Housing Frenzy to Rival 2020

Housing Market Update: First New-Listings Decline in 5 Months Portends a 2021 Housing Frenzy to Rival 2020

“Buyers are likely disappointed by the lack of new homes listed in the past month,” said Redfin chief economist Daryl Fairweather. “But that’s not stopping them from making offers on what is on the market, which is sending pending[...]
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1 in 4 U.S. Homeowners Have Lived in Their Home for Over 20 Years—The Highest Share on Record

1 in 4 U.S. Homeowners Have Lived in Their Home for Over 20 Years—The Highest Share on Record

A record 25.1% of U.S. homeowners in 2020 have lived in the same home for more than 20 years, up from 14.3% in 2010 and 8.6% in 2005, as rising home prices over the last two decades have made it more beneficial for Americans to stay put.In 2020,[...]
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West Palm Beach Luxury Home Sales Soar a Record 116% In Fourth Quarter as Wall Street Moves South

West Palm Beach Luxury Home Sales Soar a Record 116% In Fourth Quarter as Wall Street Moves South

Luxury home sales in West Palm Beach, FL surged 116% year over year in the fourth quarter—a bigger gain than any other major U.S. metro and the largest increase since at least 2013, when Redfin began tracking this data. By comparison,[...]
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Half of Redfin Home Offers Faced Bidding Wars In December as Housing Market Defied Holiday Slump

Half of Redfin Home Offers Faced Bidding Wars In December as Housing Market Defied Holiday Slump

Nationwide, 49.7% of home offers written by Redfin agents faced bidding wars in December. While that’s down from a revised rate of 55.9% in November, it represents the eighth-straight month in which about half of Redfin offers[...]
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