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The Latest Breaking News from Redfin

Demand for Vacation Homes Down 50% from Pre-Pandemic Levels

Between high mortgages and return-to-office plans, there's less interest in vacation homes, a new report says.

Kiplinger

The Western housing market recession hit so hard and fast that a Fortune 500 firm that was riding high at $34 per share has crashed to $1

"They [Opendoor] are taking huge losses, and as buying agents, we are all testing their pain threshold" says Chris Davis, a real estate agent in Phoenix.

Fortune

Millennial homeowners finally outnumber renters

It's official: Millennials are no longer a generation of mostly renters.

Fortune

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Mark Gongloff: Come to Florida for the low taxes, stay for the climate disaster

Fort Myers, Florida, was America’s seventh-fastest-growing city, more than doubling in size during the three decades before Hurricane Ian crashed into it last September. The Category 4 storm laid waste to the area before slashing through the heart of the state. But the storm clouds had barely parted before house…

Tribune News Service

The DC townhouse where John and Jackie Kennedy lived as newlyweds is for sale for $2m

Their former rental features heavily in Camelot at Dawn, a photo book that documents 'America's last age of innocence'

Homes & Gardens

Homebuyers are putting less money down

It's one side effect of cooling competition for homes.

Axios

In Southeast Baltimore, a nonprofit struggles to buy vacant homes from investors

Kari Snyder really didn’t want to spend $62,000 on this vacant rowhouse.

Tribune News Service

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Homeowners who held onto a 3% mortgage rate are becoming ‘accidental landlords’

99% of borrowers have a mortgage rate lower than 6%, according to Goldman Sachs, and some are choosing to rent out their homes instead of selling.

Fortune

Home values in South Florida jump 13%, despite the slowing market

FORT LAUDERDALE, Fla. — Homeowners across South Florida saw their homes values rise over the past year, despite the market taking a turn, new data shows.

Tribune News Service

The housing correction is toxic for Britney Spears

Spears’ “Gimme More” attitude didn’t work this time.

Fortune

Home prices are now lower than they were a year ago

High rates are turning buyers off.

Axios

Sean Keeler: Nuggets’ practice court is leaking? Then Jamal Murray should be sitting.

Redfin would lovingly describe the Nuggets’ practice court, tucked into a second-floor wing of Ball Arena, as “cute.” “Cute,” of course, is realtor code for “tiny.”

The Denver Post

The housing market correction has already caused homeowners to lose $2.3 trillion

A correction in home prices has erased $2.3 trillion in nationwide home values, but homeowners are still up roughly $13 trillion since February 2020.

Fortune

Bay Area homes selling below asking price for first time in 10 years

SAN JOSE, California -- Looking to buy a home in the Bay Area? The odds of scoring a deal could be tipping in your favor.

Tribune News Service

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Fortune

Investors are buying half as many homes

Not since the 2008 housing crisis have investors backed off buying homes like this, according to Redfin’s new report.

The Philadelphia Inquirer

Can ChatGPT help sell homes? Here's how one real estate agent uses it

Real estate agents are always looking for ways to be more efficient and connect with home buyers and sellers. They try to figure out how best to use their resources and which tools to pull out of their tool belts.

Fortune

Zillow says the home price correction is winding down—here’s what 28 other forecast models have to say

Fortune once again tracked down the latest home price forecasts from 29 of the nation's leading real estate researchers.

Fortune

National home prices have further to fall, say 24 leading housing market researchers—while 5 firms think prices have bottomed

Fortune tracked down the latest home price forecasts from 29 of the nation's leading housing researchers.

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news in one place.

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Axios

The housing market wakes from the dead

It's a good sign for the economy overall.

The Guardian - US

Joshua Tree’s ‘Invisible House’ could be yours for $18m

A surreal desert structure that ‘flaunts its abundance’ has attracted celebrities and more: ‘Demi Lovato saw aliens there’

Fortune

How much you need to make to afford a $1 million home

Depending on factors including your down payment and whether you're carrying existing debt, we estimate you'd need to earn $210,000 to $290,000 annually to afford a $1 million house.

Fortune

Something big is happening in the U.S. housing market—here's where 27 leading research firms think it'll take home prices in 2023

Among the nation's 27 leading housing researchers, 23 expect U.S. home prices to fall further in 2023.

Tribune News Service

Here’s how much buyers are saving on monthly payments as mortgage rates decline

After months of record highs, mortgage rates are showing signs of easing, sending some relief to potential homebuyers’ budgets.

Fortune

The U.S. housing market heads into 2023 still in correction mode—these 2 charts show what's happening to home prices

The U.S. home price correction is sharper—and more widespread—than previously thought.

Fortune

A 20% home price crash? These 7 forecast models can see it—where the other 13 leading models have the 2023 housing market going

Where 20 leading forecasters foresee home prices going in 2023.

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