Housing Market

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Housing Market

Housing Affordability Hits Its Lowest Point Since 2007

New reports from ATTOM and Redfin show a continued decline in housing affordability, driving the share of average income needed to cover housing costs up to 35% and increasing the number of listings with price reductions.

September 29, 2023

Bald eagle soaring above a row of beige houses with brown roofs, under a blue sky over the suburb.

Housing Market

Record-Breaking Growth: U.S. Housing Market Value Soars $2.6 Trillion

A new Zillow analysis shows the total value of the U.S. market has increased by more than $2.6 trillion year over year, climbing to just under $52 trillion, which is $1.1 trillion above the previous peak reached in June 2022.

September 27, 2023

Backyard pool area with palm trees, lounge chairs, and a circular fire pit; large white text reads 'NOT IN MY BACKYARD' across the scene.

Most Consumers Support Building—But Not in Their Neighborhoods

A new Redfin survey shows more than three-quarters of respondents (78%) support policies that promote new construction, but only about a third of those (32%) would feel positive about having large apartment complexes in their neighborhoods.

September 22, 2023

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Housing Market

Jerome Powell on Housing Supply and the Lock-In Effect

Federal Reserve Chair Jerome Powell’s insights on housing supply and the mortgage lock-in effect during the FOMC press conference.

September 21, 2023

Screen showing a list with red 'CANCELLED' labels on each row against a dark blue background, indicating cancelled items or events.

Housing Market

60,000 Home Purchase Agreements Canceled in August

A new Redfin report shows nearly 60,000 home purchase agreements falling through in August, representing 15.7% of homes that went under contract that month—up from 14.3% a year ago and the highest fall-through rate since October 2022.

September 18, 2023

Person wearing a carved pumpkin as a head, in a brown suit and tie, carrying a briefcase outdoors in a parking area.

Housing Market

Best Time To Buy a Home in 2023

Realtor.com® just released its fifth annual Best Time to Buy Report, identifying the week of October 1–7 as the best window of opportunity for buyers in 2023.

September 15, 2023

Three professionals walk through a bright office carrying moving boxes; the woman in front waves toward a seated colleague.

10% of Sellers are Moving Because of Return-to-Work Policies

A new survey from Redfin shows one in ten sellers are moving because of return-to-work policies. Others cite social issues, taxes, crime, discrimination, and climate change.

September 15, 2023

Man in a vest and shirt holds a tablet/ notebook inside a clothing store while a woman in a striped top walks beside; a 'FOR RENT' sign hangs in the foreground.

Housing Market

Landlords Still Charging Near-Record Rents, But Offering Concessions

A new report from Redfin shows the median U.S. asking rent for August at $2,052—$2 less than the record high set one year earlier. Despite near-record rents, landlords in some parts of the U.S. are offering concessions to attract renters as vacancies rise.

September 14, 2023

A group of four people peers through a magnifying glass, suggesting they’re investigating or inspecting closely for homebuyers.

Housing Market

Unexpected Boost for Homebuyers in August

The latest market report from Zillow shows monthly upticks in both home values and new listings for August 2023, despite high mortgage rates. Inventory remains more than 40% below pre-pandemic norms.

September 13, 2023

Cracked dry lakebed surrounding a blue circular pool, with a hillside town in the distance under a clear sky.

Housing Market

From Floods to Fires: How Climate Risks Impact Home Buying

New research from Zillow shows that 83% of home buyers consider at least one climate risk when home shopping. Despite this, only 23% are considering relocating to areas less prone to natural disasters.

September 6, 2023

Woman wearing headphones works at a desk with two monitors, one showing a video conference grid and the other sparse documents/code.

Housing Market

Workplace Flexibility and Housing Priorities: Fannie Mae’s Latest Research

A Fannie Mae survey of renters and homeowners on work and housing preferences shows the share of non-retired persons working fully remotely or on a hybrid work schedule has held steady since the first quarter of 2021.

September 5, 2023