News

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[...]

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[...]

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[...]

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.[...]

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[...]