Redfin Housing Demand Index Flattens from May to June

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Buyers Become More Selective and Price-Sensitive as More Homes Hit the Hottest Housing Markets   The Redfin Housing Demand Index fell 0.7 percent month over month to 120 in June. The decline was driven by a 2.2 percent decrease in the seasonally adjusted number of homebuyers requesting tours, and a 12.2 percent decrease in the number making offers on homes … Read More

Redfin Survey: Homebuyers Face Rising Mortgage Rates Head On

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As expected , mortgage rates have crept up from below 4 percent in late 2017 to greater than 4.5 percent in June for an average 30-year fixed-rate mortgage. But few homebuyers are halting their searches. In May, Redfin commissioned a survey of more than 4,000 people who had bought or sold a home in the last year, attempted to do … Read More

Redfin Survey: 36% of Millennial Homebuyers Took a Second Job to Save for Down Payment; 10% Sold Cryptocurrency

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In March, Redfin commissioned a survey of 2,000 U.S. residents who planned to buy or sell a primary residence in the next 12 months. The purpose of the survey was to better understand the objectives, perspectives and concerns of those about to enter the real estate market. We focus this report on the more than 500 respondents between the ages … Read More

Redfin Housing Demand Index Up 7% in May

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The Redfin Housing Demand Index increased 7.4 percent month over month to 116 in May. The rise was driven by a 6.3 percent increase in the number of homebuyers requesting tours, and a 9.7 percent increase in the number making offers on homes from April to May. The Demand Index is based on thousands of Redfin customers requesting home tours … Read More

Redfin Housing Demand Index Posted Slight Decline from March to April Amid Ongoing Inventory Crunch

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The Redfin Housing Demand Index fell 1.3 percent month over month to 106 in April, the third consecutive month of declines. The Demand Index is based on thousands of Redfin customers requesting home tours and writing offers. The Demand Index is adjusted for Redfin’s market share growth. A level of 100 represents the historical average for the three-year period from … Read More

Denver Joins Seattle and San Francisco as a Tech Hub with More People Looking to Move Out than Move In

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In the first three months of 2018, Denver posted a “net outflow” of Redfin users for the first time, meaning that more Denver-based Redfin users were searching for homes in other metro areas than Redfin users elsewhere looking to move in. Of all Denverites using Redfin, 20 percent were searching for homes in another metro, up from 15 percent during … Read More

Homes Sold Faster Than Ever in April; Prices Rose 7.6%

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  The national median home sale price increased 7.6 percent in April from a year ago, to a median of $302,200. This is the first time the national median home price has surpassed the $300,000 mark across the 174 markets that Redfin tracks. While April posted solid growth in home sales, up 5.2 percent from last year, home sales from … Read More

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