Survey: Homebuyers and Sellers Feel That Rising Home Prices Have Made Their Lives Worse

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Nearly half of respondents said rising home prices over the past decade have made their life worse, while just 16% said rising home prices made their life better. As cities across the country grapple with an ongoing housing affordability crisis, solutions in the form of policy proposals have become a topic of local and national debate, with Presidential candidates and … Read More

Affordability is a Relative Concept—Boston Tops U.S. Migration Destinations in the Third Quarter

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Boston passed the less expensive inland metro areas that typically dominate the list of top migration destinations, but it’s still an affordable option for some. Nationally, the share of Redfin home searchers looking outside their home metro hit a new all-time record of 26 percent. Twenty-six percent of Redfin.com home searchers looked to move to another metro area in the … Read More

U.S. Home Sales Post Biggest Increase in More Than 2 Years in August

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Recession fears keep home-price gains in check at 3% as supply and demand shift toward sellers’ favor U.S. home-sale prices increased 2.7 percent year over year in August to a median of $312,200 across the 217 metros Redfin tracks. Home prices have been growing in a tight range between 1 and 3 percent year over year since September 2018. “Although … Read More

Home Prices Now Rising Faster in Car-Dependent Neighborhoods Than in Walkable Places as Buyers Chase Affordability

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Market trends suggest that many homebuyers are prioritizing affordability above walkability.  Home-sale prices in walkable neighborhoods across the country increased 2.3 percent year over year to a median $343,900 in July, compared to 4.3 percent annual growth to a median $312,100 for homes in car-dependent areas.  That’s according to data from Walk Score®, a Redfin company that rates the walkability … Read More

Survey: More Than Half of Homebuyers and Sellers Oppose Housing Density, Only a Quarter Support It.

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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

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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

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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

One in 10 Millennial Homebuyers Say They’ll Rely on Parents for Mortgage Help, Down From 17% Last Year

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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