March Home Prices Up 8.9%, the Biggest Increase in Four Years

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The median home sale price increased 8.9 percent in March from a year ago, the highest price growth in four years. The median home sale price in March was $297,000 in the 174 markets that Redfin tracks. The lack of homes for sale, down 11.9 percent year over year, continued to constrain sales, which declined 3.7 percent. The number of … Read More

Despite Record-High Costs, New Home Construction Showed Modest Growth in the Fourth Quarter

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var divElement = document.getElementById(‘viz1519851892823’); var vizElement = divElement.getElementsByTagName(‘object’)[0]; vizElement.style.width=’800px’;vizElement.style.height=’650px’; var scriptElement = document.createElement(‘script’); scriptElement.src = ‘https://public.tableau.com/javascripts/api/viz_v1.js’; vizElement.parentNode.insertBefore(scriptElement, vizElement); New construction homes in the fourth quarter of 2017 accounted for 16.4 percent of all single-family homes for sale, the highest level since Redfin began tracking this data in 2012, up from from 14.2 a year earlier. This is a needed sign … Read More

Amazon: Here’s Where Seattleites Are Already Looking to Move

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Today, Amazon announced the 20 finalist cities vying to host a second headquarters for the tech giant. Wherever HQ2 splashes down, the highly paid tech workers it will transplant and attract are likely to make waves in the local housing market. Amazon’s move is going to add momentum to a trend we expect to intensify in 2018 in which people … Read More

Redfin Housing Demand Index Fell 6.2% from October to November

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The Redfin Housing Demand Index fell 6.2 percent from 136 in October to 127 in November. The Demand Index is based on thousands of Redfin customers requesting home tours and writing offers. The seasonally adjusted number of buyers requesting home tours fell slightly by 1.9 percent, while the number making offers fell 14.7 percent. “Three years of low inventory is … Read More

Landlords Just Got a Big Tax Break

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Through a late provision added to the GOP tax plan last weekend, real estate investors may be on course for a multimillion-dollar tax break. The change would allow real estate investors to take advantage of a new break that provides a 20 percent deduction on taxable income for pass-through companies. A pass-through is a special type of corporate structure, popular … Read More

Redfin Housing Demand Index Dipped 1.7 Percent from September to October; Still 26.6 Percent Higher Than Last Year

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The Redfin Housing Demand Index fell 1.7 percent from 137 in September to 134 in October. Still, the Demand Index increased 26.6 percent year over year in October. The Demand Index is adjusted for Redfin’s market share growth. The Demand Index is based on thousands of Redfin customers requesting home tours and writing offers. A level of 100 represents the … Read More

Here’s the #1 Reason It’s so Hard to Find an Affordable Home

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var divElement = document.getElementById(‘viz1508904329532’); var vizElement = divElement.getElementsByTagName(‘object’)[0]; vizElement.style.width=’800px’;vizElement.style.height=’650px’; var scriptElement = document.createElement(‘script’); scriptElement.src = ‘https://public.tableau.com/javascripts/api/viz_v1.js’; vizElement.parentNode.insertBefore(scriptElement, vizElement); Today’s new construction homes become tomorrow’s housing market. Without affordable new construction, we find ourselves in a housing market marked by low inventory, high prices and bidding wars—and one where first-time homebuyers are often priced out. The average price of a new … Read More