Renter households increased by 2.7% year-over-year in the third quarter to a record 45.6M, a rate 3 times higher than the 0.9% uptick in homeowner households, according to a new Redfin analysis
Only 32.1% of renter households currently pay less than $1,000 in monthly rent — a sharp decline from 35.2% in 2022 and 50.4% in 2012, according to an analysis from Redfin released Wednesday
A consumer watchdog filed complaints with California’s Civil Rights Department against 200 firms after an undercover sting found that the vouchers were refused repeatedly across the state
In the first 8 months of 2024, only 25 out of every 1,000 US homes changed ownership, marking the lowest housing turnover rate since 1994, according to an analysis by Redfin released Monday
In August, nearly half of all US homes had been on the market for 60 days or more, according to Redfin. Days on market has ticked up as high rates have slowed sales
A record 8.5% of all US homes are worth $1M or more, up from 7.6% last year and 4% before the pandemic, according to a new Redfin analysis. California is adding them faster than other states
Teachers can now afford 47.9% of rental apartments within commuting distance of their schools, an increase from 40.7% the previous year, Redfin reported on Wednesday
San Jose, California, a major tech hub, tallied single-family existing-home prices exceeding $2M in Q2 for the first time since the National Association of Realtors began tracking home prices in 1979
A 50-year high in multifamily building starts and completions has led to cooling rent growth and better lease terms. In July, 33.2% of rentals on Zillow included concessions, up 23% from 2023
Redfin's latest report revealed the average buyer's agent's commission percentage has declined in 47 of the 50 largest markets since NAR's March settlement
For about the last 4 years, home price growth in the overall market outpaced growth in the luxury sector every month. But since January 2024, that trend has reversed, Zillow reported
Zillow Senior Economist Orphe Divounguy says it will be up to agents to bring sellers with unrealistic expectations about what the market will bear back down to Earth
As for-sale listings continue to surge, many would-be homebuyers are still having trouble finding properties that they can afford. Prices are already coming down in some markets
Amid slowing homebuyer demand, the US median sales price rose to an all-time high of $397,482 at the beginning of July. However, Redfin says a slowdown may be on the way
Sluggish homebuyer activity has pushed sellers to slash prices at a rate unseen since November 2022, according to Redfin. The median asking price fell for the first time in 6 months to $416K