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Housing Market Update: Sellers Rush to Find Buyers Before Demand Weakens Further

Housing Market Update: Sellers Rush to Find Buyers Before Demand Weakens Further

Homebuyers may finally start to notice signs that the market is shifting toward their favor. More sellers came to the market during the four weeks ending May 15. New listings climbed nearly twice as fast as they did at this time last year, and[...]
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Rental Market Tracker: Growth in Asking Rents Slows for the 1st Time in a Year

Rental Market Tracker: Growth in Asking Rents Slows for the 1st Time in a Year

The median monthly asking rent in the U.S. increased 15% year over year to a record high of $1,962 in April. That’s below March’s 17% increase, marking the first slowdown in a year.“The fact that rents are growing at a slower pace may be[...]
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Historic Housing Shortage Shows Signs of Letting Up as Sales Decline

The housing market turned a corner in April as the inventory crunch showed signs of easing. The 9% year-over-year decline in homes for sale was the smallest since March 2020 and the first single-digit drop since the start of the pandemic.[...]
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Just 45% of Black Families Own Their Home, Compared With 74% of White Families–And the Gap Has Hardly Narrowed Over the Last Decade

Just 45% of Black Families Own Their Home, Compared With 74% of White Families–And the Gap Has Hardly Narrowed Over the Last Decade

The homeownership rates for both Black and white families rose slightly over the last 10 years, with part of the increase taking place during the pandemic. The racial homeownership gap persists. The homeownership rate for Black[...]
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Housing Market Update: Typical Buyer’s Monthly Payment Up 39%—The Biggest Annual Gain on Record

Housing Market Update: Typical Buyer’s Monthly Payment Up 39%—The Biggest Annual Gain on Record

The typical homebuyer’s monthly mortgage payment shot up 39%, the largest year-over-year gain on record as the average 30-year-fixed rate hovered at a 12-year high of 5.1%. Redfin’s data on homebuyer mortgage payments is based on[...]
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