Millennials And Gen Z Drive Majority of Mortgages In 2023 A new Redfin report shows younger Americans were most likely to take out mortgages in 2023, with the lion’s share going to buyers under 35 (39.7%) and buyers aged 35-44 (26.5%). A new Redfin report shows younger Americans were most likely to take out mortgages […]

Down Payments Averaging $26,000, The Highest Q1 Level on Record The median down payment in the first quarter of 2024 was $26,000—an average of 13.6% down, according to Realtor.com’s latest down payment report. Based on its analysis of down payment trends at the national, state, and (top 100) metro levels, down payments have climbed three […]

No Metros with Falling Home Prices – For the First Time Since July 2022 A new report from Redfin highlights a housing market situation that hasn’t happened in almost two years: home prices are not falling in any of the 50 most populous U.S. metro areas.  During the four weeks ending April 28, 2024, the […]

Wait-And-See: Powell on Rate Cuts, Housing Inflation and Market Rents At the end of 2023, Federal Reserve Chair Jerome Powell noted that three rate cuts were likely for 2024. Yet, leading up the the April 30- May 1 FOMC meeting, nobody was expecting the first cut to happen, as stubborn inflation has left the Fed […]

Nearly 40% Of Homeowners Couldn’t Afford Their Homes Today Almost two out of five homeowners (38%) say they could not afford their own home if they were to buy it today. And while Baby Boomers typically have more financial resources to tap for a home purchase, they’re also the most likely to say they could […]

Nearly 20% Of Home Sellers Take A Loss In This City—Compared To 4% Nationwide Nearly one in five San Francisco home sellers (17.8%) are taking a loss on the sale of their home during the three months ending February 29, 2024—higher than any other metro and more than four times the nationwide share. That’s according […]

1 In 5 Americans Are Making Big Sacrifices to Afford Monthly Housing Costs A new report from Redfin highlights the sacrifices Americans are making to afford their monthly housing costs. Redfin commissioned the survey conducted by Qualtrics in February and fielded to 2,995 U.S. homeowners and renters. Redfin’s report zooms in on the 1,494 respondents […]

Squatting Has Gone Viral—And Some Are Taking Matters into Their Own Hands Blame COVID—partly. When the pandemic hit and renters across the country lost their incomes, some states passed laws making it harder for landlords to evict them. Two of those states, California and Washington, are notable for their leniency toward those who can’t afford […]

The Pandemic Roiled the Housing Market—but Small Signs Show It’s Finally Bouncing Back It’s no secret that the pandemic upended the housing market—and the fallout is still reverberating today, affecting homebuyers and sellers. A quick recap: In the past four years, list prices shot up, the number of properties on the market plunged, and home sales dropped […]

Co-Buying, Compromises, And Home Tour Burnout: 2023 First-Time Homebuyers More than three-quarters of today’s first-time homebuyers are making their first home purchase with a co-buyer. And about a third are co-buying with a parent, friend, or sibling. That’s according to Opendoor’s third edition of its First-Time Homebuyer Report, released on March 5, 2024. Thanks to […]