Post-Pandemic Migration from Expensive Cities Likely As 1 in 4 Newly Remote Employees Expect Work-From-Home to Continue

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Survey shows more than 50% of people in New York, Seattle, San Francisco and Boston would move if work-from-home became permanent. The sudden shift to remote work, brought on by the coronavirus shutdowns will accelerate a major migration away from expensive coastal cities . According to a new survey of homebuyers and sellers from Redfin, 1 in 4 newly-remote workers … Read More

House Hunters’ Hunger for Small Towns Continues to Soar—Even as Interest in Big Cities Begins to Recover

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Pageviews of houses in small towns are surging amid the coronavirus pandemic, while big cities are staging a more modest comeback. A remote home in the woods in a tiny Illinois village 67 miles southwest of Chicago was one of the most-viewed listings on Redfin.com in April. Complete with a wood-burning stove and a natural spring running through the property, … Read More

Shortfall in New Supply of Homes for Sale Felt Most Acutely at the High End

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The coronavirus has driven listings down across the board, but even at its lowest impact point—in the affordable market—there is still not enough supply of homes for sale to meet demand Between mid-March and mid-April, the new supply of homes for sale over $1 million fell 29 points from the year prior, according to a new Redfin analysis of listing … Read More

Five Charts That Show What’s Happening in the Housing Market Right Now

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As Americans grow accustomed to a new reality under quarantine, fewer people are delisting their homes, properties are sitting on the market for longer and growth in home prices has officially hit zero, according to research from Redfin. Here are five charts that illustrate the latest developments in the housing market as the coronavirus pandemic continues to upend residential real … Read More

How US Cities Will Fare in the Coronavirus Led 2020 Recession

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Affordable homes and low exposure to volatile industries should help some metros weather the storm Affordable East Coast and Midwest cities have the lowest overall economic risk in the 2020 recession that began in March, according to a new analysis by Redfin. The one-two punch of the coronavirus (COVID-19) and an oil price war between Saudi Arabia and Russia has … Read More

Impact of Stay at Home and Shelter in Place Orders on Real Estate Services

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In order to understand how shelter in place and stay at home orders are impacting the real estate industry across the country, the Redfin legal team has put together a resource that tracks state and metro area orders and what they mean for real estate. Thanks to Kelly Lennox, Jane Leuchter, Adrienne McKelvey and the entire Redfin COVID-19 Service Response … Read More

Stock Market Crash and Coronavirus Fears Flip Expectations for Home Prices in a Recession

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Just 32% of homebuyers and sellers now expect home prices to increase during the next recession, down from 56% in December. Nearly one-third of homebuyers and sellers expect home prices to decline when the next recession hits, a complete flip from just three months earlier, when 56% of those surveyed expected home prices to increase during the next recession. That’s … Read More

Americans Are Split Over Coronavirus’ Impact on the Housing Market

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40% of survey respondents expect the outbreak to have a negative effect on the market, while 50% anticipate no impact. About 40% of Americans anticipate that the recent spread of the novel coronavirus, also known as COVID-19, will have a negative effect on the housing market, according to a new survey conducted by Redfin. While that represents 2 in 5 … Read More