News

A homebuyer on a $2,500 monthly budget has lost nearly $120,000 in spending power since the end of last year as mortgage rates have nearly doubled.That buyer can afford a $399,750 home at today’s mortgage rate of roughly 6%. That’s a[...]

Home prices rose 1.5% month over month in May, their smallest increase of any May in Redfin’s records, which go back to 2012. The housing market cooled considerably as mortgage rates climbed to their highest levels since 2009.[...]

An increasing share of home sellers are lowering their asking price as rapidly rising mortgage rates cut into buyers’ budgets and homebuying sentiment drops. Price drops are especially common in mid-sized metros in the[...]

Nationwide, 57.8% of home offers written by Redfin agents faced competition on a seasonally adjusted basis in May, the lowest level since February 2021. That’s down from a revised rate of 60.9% one month earlier and a pandemic peak of[...]

Nationwide, 49.1% of Hispanic families own their home. That’s essentially unchanged from 48.9% just before the pandemic began, but up from 46.3% a decade ago.As the Hispanic homeownership rate increases, the Hispanic-white[...]