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

Migration Patterns Show More People Leaving Politically Blue Counties

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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

Priced Out: The Housing Affordability Gap in America’s Largest Metros

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Housing affordability is a growing problem for the middle class. As home prices across the nation’s 30 largest metro areas have increased by 26 percent since the market bottomed in 2012 and the median household income edged up just 1.6 percent nationally, housing affordability for the middle class has dwindled. In 2012, a family earning the area median income could … Read More

Solar Power is an Untapped Resource in These 10 Cities

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We all live under the same sun, but some places get a lot more sun-love than others. The Northeast region of the United States might seem like one of those places that is lacking in the sunlight department when compared to areas like the West Coast, but there is actually a lot of untapped solar potential in that part of … Read More

Have U.S. Cities Reached Peak Parking?

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Key Findings Construction of residential parking spaces peaked in 2012. Builders will provide more housing and less parking across the U.S. next year as more cities start letting developers decide how much parking to build. Still Lots of Parking, But Dropping Fast Less parking will be built for 2017’s new homes than was built for this year’s new homes. This … Read More

The Inequality of Energy Costs: California Homeowners Get a Break

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Energy costs are an important factor to consider when choosing a home to buy or rent, yet they’re rarely included among statistics reflecting housing affordability. And given their seasonal fluctuations in many areas, they can be tricky to budget for. But they’re worth paying more attention to. Here’s why: Energy costs can add more than 50 percent to annual housing … Read More

Inner Cities a Disaster? Not According to Home Prices

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Donald Trump mentioned “inner cities” 10 times in last night’s second presidential debate, using words like “disaster” and “devastating” to describe them. When neighborhoods decay, home prices decrease.  However, a look at home prices in the “inner cities” of most major U.S. metro areas shows that the opposite is happening. Instead of falling, the median price per square foot of … Read More

Viz of the Week: Housing Affordability for California Teachers

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Of all the homes currently for sale in California’s most populous counties, only 17 percent are affordable on the average California teacher salary of $73,536. This represents a 13 percentage point decline in affordable housing since 2012 when nearly 30 percent of all homes for sale were within reach on the then average salary of $70,487. Although California’s teachers are … Read More