New-Construction Home Listings Drop 4% in August, Reversing Course From July’s Rebound

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The new-homes market is recovering—with sales on the rise—but hurdles including a lumber shortage are still hampering builders. New listings of newly-built homes dropped 4.1% year over year to a seasonally-adjusted rate of 74,000 in August, reversing course after a 3.8% gain in July. Meanwhile, new listings of existing homes grew 5.2%. “There’s plenty of demand for new homes, but … Read More

Hot Housing Market Spans the Political Spectrum, with Prices Up Double Digits in Blue, Red and Swing Counties

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Homes are selling the fastest in swing counties, a reflection of rising interest in the suburbs as the pandemic drives homebuyers to prioritize space.  The median home price in blue counties nationwide rose 13.1% from a year earlier to $346,000 during the four weeks ending September 6. Prices rose 11.5% to $259,500 in swing counties, and they were up 10.6% … Read More

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

US Housing Market Reverses Course in March with Coronavirus Shutdowns

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Record-setting declines include a more than 10% decrease in new listings from a year earlier and a 9% drop in total number of home sales in a single month. This is possibly the most unusual Market Tracker report that Redfin has ever published. At the beginning of March, the housing market was stronger than ever , with February marking the … 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