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

Build RealtyMarket News0 Comments

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

Migration Patterns Show More People Leaving Politically Blue Counties

Build RealtyMarket News

In the first half of 2017, more people moved from blue (Democratic) counties to red (Republican) counties than from red to blue counties, according to data on Redfin.com user searches. Counties were classified as “blue” if the Democratic candidate for 2016 won by more than 20 percentage points and vice versa for “red” counties.1 Overall, 7.4 percent more people moved … Read More

Time to Renovate the Mortgage Interest Deduction

Build RealtyMarket News

The lack of affordable housing in America’s fast growing cities is reaching epic proportions as more and more families are being priced out of homeownership .  In 2012, a middle class family could afford 44 percent of the homes for sale. By 2016, the share of affordable listings declined 12 percentage points to just 32 percent. This housing equality gap … Read More

Protected: #HappyHour

Build RealtyMarket News

This content is password protected. To view it please enter your password below: Password: The post Protected: #HappyHour appeared first on Redfin Real-Time . View original article on Redfin

Redfin Housing Demand Index Dipped in July as Inventory Shortage Deepened

Build RealtyMarket News

The Redfin Housing Demand Index fell 5.0 percent from its all-time high of 130 in June to 124 in July. Still, the Demand Index was up 29.7 percent year over year. 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 … Read More

The Wage Gap is Following Women Into Homeownership

Build RealtyMarket News

Single women build less home equity overtime than single men, according to a new Redfin analysis of 79,517 homes in purchased in 18 of the largest metros by single women in 2012. On those home purchases, women earned a median $171,313 of home equity over five years compared to $186,403 of equity earned by men—a difference of $15,090 or 8.1 … Read More

Home Prices and Buyer Competition Hit New Highs in June as Inventory Drought Dragged into 21st Consecutive Month

Build RealtyMarket News

The median home sale price increased 7.3 percent from a year ago to $298,000 in June. This is the highest national median sale price recorded since we began keeping track in 2010. Despite record-high buyer demand during the busy spring market, sales only increased 1.9 percent compared to last year, constrained by a low supply of homes on the market. … Read More