Buyers and sellers face off as inventory and delistings rise
Delistings outpaced inventory growth in June even as price cuts surged, showing that a growing number of sellers are unwilling to compromise when it comes to their selling goals
US inventory exceeds 1M homes for first time in 6 years
Metro areas with the greatest gains in inventory are those that continued to build during and shortly after the COVID-19 pandemic, while those that did not still lag behind pre-pandemic levels
Homebuyers gain leverage as sellers cut prices: Zillow
In January, almost 23% of sellers reduced their listing price — the highest percentage for any January since 2018, according to a new analysis by Zillow
by Richelle Hammiel Feb 12
Summer slump sees buyers back out of deals at record rates
Rising home prices and mortgage rates, and sticker shock from surprise housing costs, pushed buyers to cancel 56K home-purchase agreements in June, according to Redfin
by Marian McPherson Jul 23
New San Francisco showroom offers private islands and yachts
Demand for some of the most exclusive luxuries remains, even as the city of San Francisco itself grapples with plunging home prices and an all-time high in office vacancies
by Lillian Dickerson Apr 24
45% of sellers offered concessions coming into 2023: Redfin
As the market shifts, so are homesellers' tactics. Nearly half of sellers offered concessions or price cuts during the beginning of the year, a reverse of years of bidding wars
by Marian McPherson Mar 15
Mark Wahlberg's sweeping Beverly Hills mansion brings in $55M
Wahlberg and his wife, Rhea Durham, initially listed the 30,500-square-foot property for $87.5M in April 2022 but dropped the ask by $8M after it sat on the market for several months
by Lillian Dickerson Feb 21
One-time $100M Bel Air mansion falls to Earth with huge price cut
'Realistically in this market, this is what it's worth — it's priced to sell,' said Shawn Elliott of Nest Seekers, one of the agents who listed the 41,000-square-foot spec home last week
by Lillian Dickerson Feb 17
Luxury holds steady despite overall Manhattan market slowdown in Q4
As prices and transaction volume both fell in Manhattan's market at large year over year, luxury properties priced at or above $10M still managed to perform well to close out 2022
Homesellers are slashing prices. Here's how to spot deals right away
Homebuyers searching for price cuts on search portals are sure to get lucky if they check on this specific day of the week and check back again after 3 weeks, according to a new analysis by Zillow
by Daniel Houston Nov 7
Always a bridesmaid, rarely a bride, first-time buyers make big return
First-time homebuyers now make up 45% of all transactions, up from 37% of all buyers in 2021, returning to pre-pandemic levels, according to new data from Zillow released Thursday
by Lillian Dickerson Oct 13
What do fast-cooling markets have in common? These 5 offer a hint
In some of the nation's most quickly slowing housing markets, the number of new listings is twice the number of recent sales, according to an analysis by SmartAsset
by Daniel Houston Oct 10
A new normal, or a ‘new weird’? Home prices climb despite 6% rates
As mortgage rates rose in recent weeks, so did home prices and purchase-loan applications. It's a strange time, a Redfin economist says
by Daniel Houston Sep 22
This is the 'fastest-slowing' housing market in the US, new data shows
The slowdown in housing has been 'fastest slowing' on the West Coast, where prices in some markets have already fallen by 2 percent since July, according to a new analysis by Redfin
by Daniel Houston Sep 21
Falling list prices hit pandemic hot spots hardest, new Redfin study says
Nationally, more than 15% of homesellers dropped list prices in July across the 97 metro areas analyzed by Redfin, with Boise, Denver and Salt Lake City seeing the greatest share of cuts
by Lillian Dickerson Aug 23