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Housing Market Update: Typical Homebuyer’s Mortgage Payment Up 15% Since Mid-August

Housing Market Update: Typical Homebuyer’s Mortgage Payment Up 15% Since Mid-August

The typical homebuyer’s monthly mortgage payment has climbed $337 (15%) over the past six weeks to a new high of $2,547. The extreme volatility and recent surge in mortgage rates has caused many potential homebuyers to delay or cancel[...]
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More Than Half of U.S. Homebuyers and Sellers Want to Live Somewhere With Legal Abortion, Up From 40% a Year Ago

More Than Half of U.S. Homebuyers and Sellers Want to Live Somewhere With Legal Abortion, Up From 40% a Year Ago

A recent Redfin survey found that most homebuyers and sellers would prefer living in a place where abortion is legal, up significantly from before the Supreme Court overturned Roe v. Wade. The survey also found that more than 60% of[...]
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High Mortgage Rates Mean Smaller Homes For Many Buyers

High Mortgage Rates Mean Smaller Homes For Many Buyers

A San Diego homebuyer with a $3,000 monthly budget can afford a 931-square-foot home at today’s 6.7% mortgage rates. That’s down from the 1,366-square-foot home the same buyer could have purchased a year ago, when rates were sitting[...]
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Rental Market Tracker: Asking Rents Climb 11% in August, the Smallest Gain in a Year

Rental Market Tracker: Asking Rents Climb 11% in August, the Smallest Gain in a Year

U.S. asking rents climbed to a record high in August but rent growth moderated for the third-straight month. The national median asking rent was up 11% year over year to $2,039. That’s the smallest annual increase in a year, down from a[...]
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Bidding-War Rate Drops to Lowest Level Since April 2020 As Mortgage Rates Surge

Bidding-War Rate Drops to Lowest Level Since April 2020 As Mortgage Rates Surge

Nationwide, 44.6% of home offers written by Redfin agents faced competition on a seasonally adjusted basis in August, the lowest bidding-war rate since the beginning of the pandemic when the housing market nearly ground to a halt. It’s[...]
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