US Home Prices Up 7% in December

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A record shortage of homes for sale drove prices up on a monthly and annual basis. U.S. home-sale prices increased 6.9% year over year in December to a median of $312,500 across the 217 metros Redfin tracks. Home prices were also up 1.1% month over month on a seasonally-adjusted basis, the largest increase since February 2018. “Low mortgage rates and … Read More

U.S. Home Prices up 5.4% in October

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Low mortgage rates prop up homebuyer demand as inventory declines U.S. home-sale prices increased 5.4% year over year in October to a median of $313,200 across the 217 metros Redfin tracks. The increase was the largest since July 2018, although current strength may be overstated given the weakening housing market a year ago. Prices also rose 1.4% between September and … Read More

Income Gains and Rent Increases Follow Rail Transit

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Racial diversity in neighborhoods with train stations remained high even decades after rail transit came to Atlanta and Los Angeles. Improving transit access to a neighborhood does not lead to a significant decrease in minority populations, even as incomes and rents rise faster than similar neighborhoods without convenient transit. When a new rail transit stop is opened, long-term economic gains … Read More

Home Sales Little Changed in September

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Home prices up 5% annually, the biggest increase in over a year. U.S. home-sale prices increased 4.6 percent year over year in September to a median of $308,800 across the 217 metros Redfin tracks. This is the largest year-over-year increase since July 2018. “The demand-driving effect of low mortgage rates is being cancelled out by jitters about the overall health … Read More

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 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