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

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

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

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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

Homes Sold Faster than Ever in April; Prices Marched Upward

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The median home sale price increased 6.2 percent in April to $280,000, continuing a five-year trend of steady annual growth. A lack of homes for sale kept a lid on sales, which inched up just 1.2 percent compared to last year. The number of homes for sale fell 13.3 percent, the steepest decline in four years. Since October 2015, the … Read More

With Houses Hard to Find, Homebuyers Beat Down Sellers’ Doors In June

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House hunters chased a limited supply of homes last month, pushing buyer competition to new heights and lifting sales to their fastest pace since at least the great recession. Homes found buyers in just 41 days in June, a record speed and four days faster than a year earlier, according to Redfin’s monthly Housing Market Tracker . Nearly 26 percent of … Read More

An Attorney, a Janitor and a Mail Carrier Walk into a Bar – Where Are They?

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Not all posh neighborhoods are exclusive. Sure, some are so upscale that the mail carrier is the only working-class person you’ll see. Others are wholly affordable. More rare is a third kind of place, where swanky homes share the curb with starter condos. We think these places are important because they bring people of different incomes closer together — as … Read More

The Housing Market in Two Easy Numbers (and Some Unsettling Detail)

Build RealtyMarket News

Last week, we dodged a government shutdown and an interest rate hike, at least for now. This week, voters in Texas, San Francisco and elsewhere weigh in on affordable housing proposals and tax breaks for homeowners. Thought underwater houses were over? Think again. On Friday, we get the most important jobs number of all time. The week in two easy … Read More