Photographers, beauty bloggers, and yes, dogs can all buy a home sooner than the average person if they command a serious social following. If Nashville-based influencer @itsdougthepug posted one sponsored post a day, every day, to his Instagram feed, he could buy a median-priced home, in cash, in about 10 days. That’s right, a dog brings in more income … Read More
Home Prices Up 3 Percent in July as Supply Fell 3 Percent—The Largest Decline in a Year
Home sales dipped slightly despite low mortgage rates. U.S. home-sale prices grew at a steady 3.3 percent rate year over year to a median of $318,100 across the metros Redfin tracks. Home prices have been growing in the healthy 3 percent range since May. Overall the market in July didn’t hold any big surprises, although it is notable that the … Read More
We Ranked the Most and Least Affordable Metros Based on These 4 Unexpected Costs When Moving to a New City
From local taxes to transportation and utilities, relocating to find a cheaper address isn’t always straightforward. San Jose hits high on most, while Florida proves affordable across the board. As coastal markets like San Francisco , New York and Los Angeles have grown increasingly unaffordable, people and businesses are relocating to smaller, more affordable cities like Tampa , Providence and … Read More
Survey: More Than Half of Homebuyers and Sellers Oppose Housing Density, Only a Quarter Support It.
African American respondents and those under age 25 were the most likely to support policies that encourage dense housing to be built in their neighborhood. Homebuyers and sellers are nearly twice as likely to oppose the building of dense housing in their neighborhood than they are to support it. Fifty-three percent of them support zoning policies that limit housing density … Read More
Race Gaps in Homeownership Rates and Home Equity Have Widened During the Decade-Long Economic Expansion
Since the end of the Great Recession, the homeownership rate for black Americans has fallen 5 percentage points to 40.6%. And while majority-black neighborhoods have seen an average of $121,000 in home-equity gains, it’s $191,000 for majority-white neighborhoods. Black Americans haven’t benefited from the prosperous U.S. housing market as much as white Americans in the past decade’s economic expansion, during … Read More
Home Prices up 3.4 Percent in June as Supply Flattens
The typical home sold in June went under contract in just 35 days, matching last year’s record-fast pace, as falling mortgage rates lured more buyers to the market. U.S. home-sale prices rose for the third consecutive month in June, growing 3.4 percent year over year to a median of $321,200 across the metros Redfin tracks. The growth rate of home … Read More
When Do I Need a Building Permit for Home Improvements?
When it’s time to remodel or make improvements to your home, you may wonder when you need a building permit. How do you determine which remodels and renovations require permits? Most contractors will know ahead of time, but it’s good for homeowners to have a general understanding for future renovations. Why Do I Need a Building Permit? For many projects, … Read More
One in 10 Millennial Homebuyers Say They’ll Rely on Parents for Mortgage Help, Down From 17% Last Year
Millennials this year are less likely to be taking creative measures like co-ownership or renting out rooms to afford a mortgage, according to a Redfin survey. Millennial homebuyers in 2019 are less likely to take extraordinary measures to afford their mortgage payments, such as getting help from their parents or co-ownership with someone other than a spouse or partner, than … Read More
Crawl Space Care: Insulation, Ventilation, Encapsulation, Oh My!
Crawl spaces are often out of sight and, consequently, out of mind, making them easy to neglect. But don’t “space out” on your crawl space! Without proper care, your crawl space is susceptible to moisture, heat loss, pests, and a host of other complications. These common problems can damage your home’s foundation, cause sky-high energy bills, and introduce toxins to … Read More
Supply of Homes for Sale Down 0.3 Percent in June, First Annual Decline in 10 Months
Some expensive markets like San Jose, Seattle, and Boston are still seeing big gains in for-sale home inventory, while affordable markets like Oklahoma City, Buffalo, and Memphis are already experiencing big declines. The number of homes for sale nationally fell 0.3 percent year over year in late June—the first annual decline since inventory started climbing in September. This marks the … Read More