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The Latest Breaking News from Redfin

A top economist suggests buyers and sellers should brace themselves for the 6% mortgage rate reality

Mortgage rates won’t be going back down to the historical lows seen throughout the pandemic, the National Association of Realtors’ chief economist said.

Fortune

Builders are pumping the brakes on new apartment construction. But landlords will keep 'jacking up' rental prices

Even though we’re “in a big hole” when it comes to housing supply, builders are backing off.

Fortune

There’s a wave of apartments coming, but building permits have plummeted almost 30% since the pandemic—and it could mean higher rents

“Property owners might start jacking up rents again once all of the new apartments hitting the market fill up with tenants and there’s no longer so much supply, which could be the case in a year or two,” a Redfin senior economist said.

Fortune

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If mortgage rates stay above 6.5%, ‘the chances of an imminent recovery are slim’ for housing demand, Capital Economics says

Mortgage applications and sales are weak, to say the least, off the back of dampening demand.

Fortune

8 Great Places for Snowbirds to Land

These affordable warm-weather cities for snowbirds offer plenty of housing options, abundant activities for retirees and access to good health care.

Kiplinger

Why Do People Retire to Florida? 9 Things You Must Know

Attention Florida-bound retirees: There's more to the Sunshine State than Disney, golf and beaches.

Kiplinger

Homeowners are sitting on a record amount of equity, driving a shift toward more expensive homes, top economist says

“They are able to navigate these higher prices without as much of a ramification,” Realtor.com’s chief economist recently said.

Fortune

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Home prices just broke another all-time high. But things might be changing as price inflation slows

For the first time in close to a year, the pace of annual home price inflation dipped. Still, home prices and mortgage rates are considerably higher than before the pandemic.

Fortune

Real estate CEO says pandemic boomtowns in Florida and Texas are overvalued—and in some cases, are crashing

“These pandemic boomtowns, they just got way too expensive over the last two or three years,” chief executive of Reventure Consulting and Reventure App said.

Fortune

Luxury Homes: High-End Amenities Rich Buyers Are Snagging

Luxury homes sought by the richest buyers offer eye-catching amenities and high-end décor. Double vanities, kitchen islands and heated floors are among the most sought-after details by the wealthiest homebuyers.

Kiplinger

Home prices are rising at their slowest pace in more than a year, and mortgage rates could drop soon, setting up a showdown between buyers and sellers

“A drop in mortgage rates would bring both buyers and sellers back to the market, which could either accelerate price growth or pull it back,” a Redfin economist said.

Fortune

After sitting on the sidelines for months, sellers finally want to offload their houses, but no one’s buying

“Home sellers are returning to the market but finding buyers hesitating,” Zillow’s chief economist wrote in a monthly housing report.

Fortune

The hot metros of the pandemic are crashing back to earth as demand for their homes cools

Housing markets in Texas and Florida were once all the rage, so their home prices and rents soared, but now they’re falling in this very different economic environment.

Fortune

America is a tale of two rental markets, data reveals—here are the regions where rents are climbing and falling the most

The country’s median asking rent hit its highest point in almost two years, but there’s plenty of variation nationwide.

Fortune

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Axios

Where "seriously underwater" mortgages are on the rise

Location matters. Seriously underwater mortgages are most common in the Midwest and South where underwater mortgages exceed 40-80% in some zip codes, per ATTOM.

Fortune

Real estate billionaire Barry Sternlicht says rents will rise in two years—and it’s Jerome Powell’s fault

“This is my problem with Powell,” Sternlicht said. “His policy has now crushed multifamily starts; we need houses.”

Fortune

Young voters’ top concern isn’t abortion—they care more about finding an affordable place to live, a new survey shows

The cost of starter homes has risen twice as fast as incomes, a Redfin economist said.

Fortune

National home prices just broke another record for the 9th time in 12 months

“We’ve witnessed records repeatedly break in both stock and housing markets over the past year,” one analyst said.

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Fortune

Housing hit ‘rock bottom’ this year, but a top real estate CEO sees improvement over the next several months

Weekly mortgage rates just fell below 7%, a “milestone” in the housing world, according to Redfin’s Glenn Kelman.

Latin Times

Florida and Texas are the most buyer-friendly states to get a home

In contrast, Buffalo, the Bay Area and the Northeast rank among the best areas for sellers, according to a study from Zillow

Axios

Why more people are buying homes in cash

Rich people are able to adapt to this pricey market much more easily than buyers with mortgages.

Kiplinger

Why Luxury Home Sales Are at an All-Time High

The average price of a luxury home in the U.S. sold for a record $1.18 million in the second quarter of 2024, up 8.8% from a year earlier, Redfin shows.

Latin Times

Cost of buying a house is the highest in at least a decade, Redfin says

This is a result of the combination of rising mortgage rates and home prices

Kiplinger

One-Third of Parents Are Paying An Adult Child's House Down Payment? Are You?

As housing costs soar, Gen Z and Millennial home buyers are turning to family for help with down payments.

WEKU

Many baby boomers own homes that are too big. Can they be enticed to sell them?

Lots of older Americans say they'd love to downsize, but it doesn't make financial sense. The housing roadblock has left some would-be buyers stuck. We asked experts what policies could change that.

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