The U.S. housing market has a record 490,000 more sellers than buyers, which means home prices will likely fall by year-end. Sellers, you may want to move quickly. Buyers, know that you may gain purchasing power 🏠💸 #housingmarket
Redfin
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Redfin
@Redfin
From your first search to your closing day, Redfin’s top-rated app and expert agents are here to help you win. Equal Housing Opportunity.
- Redfin is ending its support of the National Association of Realtors due to NAR's anti-consumer policies and a pattern of alleged sexual harassment.
- From finding a real estate agent to making an offer, we’re here to help you get the answers you need during every stage of the homebuying process.
- Baby boomers are aging in place largely because they've paid off their homes or they don't want to trade in their lower mortgage rate. This trend is increasing homeowner tenure, exacerbating the shortage of homes for sale, and pushing up prices. #realestate
- The median U.S. rent price in October was $1,978, nearly the same as a year ago. That’s because an increase in new rentals drove up vacancies, making it harder for landlords to raise prices 👉 bit.ly/3Qtj2hr #housing
- U.S. pending home sales fell 6% year over year, the second-biggest decline since November 2023, as high housing costs deter buyers 👉 bit.ly/4isU5PC #realestate Pending sales fell most YoY in: Atlanta, -16% Miami, -16% Houston, -15% Jacksonville, -15% Minneapolis, -14%
- The tides turn for renters as rent prices post the biggest decline in over three years. The median U.S. asking rent fell 2% year over year to $1,967 in November as landlords grapple with rising vacancies due to a building boom in recent years. #housing
- For the first time since June 2020, the portion of homes selling for above list price decreased. Additionally, the average home isn't selling as far above list price as last year. Homebuyers, rejoice 🙌
- Listings are piling up as buyers stay on the sidelines 🏘️ "Buyers aren’t making offers if a home is on a busy street, or if it has one bathroom instead of two bathrooms. When the market was hotter, those homes would fly off the shelves," says Redfin agent Bliss Ong. #realestate
- History shows that home prices cool when sellers outnumber buyers💰 Buyers: Affordability may improve if prices fall and sellers become more open to lower offers and concessions. Sellers: Be open to negotiations and list your home sooner rather than later before prices fall.
- Nearly 62% of homes are sitting on the market for at least 30 days without going under contract, as buyer demand falters amid high housing costs. Stale listings are growing fastest year over year in Dallas, Fort Lauderdale, and Tampa. #realestate
- Nearly 6% of U.S. home sellers are at risk of selling at a loss, up from 4.4% a year ago, but still well below pre-pandemic levels. The risk of selling at a loss ranges widely—from nearly 20% in San Francisco to almost 0% in Providence, RI. #realestate
- More and more home sellers are dropping prices. "Buyers, who earlier this year had to race to beat the competition, can now take their time touring homes and perhaps even wait to see if sellers drop the price," said our Chief Economist @FairweatherPhD. #realestate
- Roughly 53,000 U.S. home-purchase agreements were canceled in September. “When buyers don’t feel like they’re getting a good deal, they’re backing out,” said Redfin agent, Heather Kruayai. #realestate
