Luxury prices and cash buyers hit a new high to close out 2023
Strategic migration, low inventory and a demand for larger spaces have also contributed to rising luxury prices, agents told Inman, depending on the specific market
Empty nesters own twice as many big homes as millennials with kids
Empty nest baby boomers own 28.2% of the large homes in the United States — twice as many as millennials with kids. Gen Z parents own only 0.3% of larger residences
by Ben Verde Jan 17
A small home with a baby stroller in front
The annual paycheck for a 1st-time homebuyer is roughly $64,500 to afford the typical US 'starter' home in 2023 — up 13% from a year ago, according to a report from Redfin
by Ben Verde Jul 28
Third of homes now purchased in cash, highest level in 9 years
A new report released by Redfin found that 33.4% of home purchases were made in cash during April 2023 — up from 30.7% a year earlier
by Ben Verde Jun 7
Nearly 1 in 7 homes sold in March went for less than investors paid
Investor profits are falling, and the number of investors losing money reached the highest point since 2016, according to a new report from Redfin
by Taylor Anderson Apr 21
Typical home down payment falls to 2-year low as concessions return
The typical down payment for a homebuyer in the United States fell 10% between January 2022 and 2023, to $42,375, according to new data released Wednesday by Redfin
by Ben Verde Mar 22
The time a typical homeowner stays in one place just got a little shorter
Migratory waves over the past 3 years due to the pandemic have caused homeownership tenure to decline modestly, but an uptick is expected thanks to a rise in mortgage rates, Redfin data shows
by Ben Verde Mar 1
Young renters' inflation rate lower than general population: Study
Gen Zers and millennials who signed new leases in December saw their cost of goods and services increase 5.6% and 6.1%, respectively, according to a new report by Redfin
by Ben Verde Feb 8
Phoenix, Arizona
Median home price growth has slowed the fastest in Austin, Phoenix and San Jose, with fellow pandemic boomtowns Las Vegas and Boise also seeing significant slowdowns
by Ben Verde Nov 28
Square footage in suburban homes now worth more than in cities
Typical suburban home was worth $206 per square foot during the four weeks ending Sept. 25, just above the typical urban home which was worth $205 per square foot, according to Redfin
by Ben Verde Oct 18
Millennial and Gen Z renters are getting walloped by inflation: Study
Gen Z and millennial renters who took on a new lease in July have personal inflation rates of 11.6% year over year, according to a new analysis by Redfin released Thursday
by Ben Verde Sep 1
'Overvalued' Western markets see biggest share of price reductions
Despite national growth in sale prices, these markets that saw spikes in popularity and price over the past 2 years are starting to see the most price reductions, data shows
by Ben Verde Jul 27
Are sellers aiming too high? Price cuts abound throughout the US
More sellers dropped their asking prices in June almost everywhere in the US. In some places, more than half of homes for sale saw a cut
by Daniel Houston Jul 14
Families aren't only buyers feeling heat from Wall Street investors
Smaller real estate investors are also feeling the impact of a new wave of institutional investors into markets across the country, economists and investors told Inman in the wake of new data
by Taylor Anderson Feb 22
Share of newly constructed homes on market reaches all-time high
A report from Redfin found that 34.1 percent of homes on the market in the last month of 2021 were new construction, compared to just 25.4 percent the year prior
by Ben Verde Jan 31