A new Redfin report shows homebuyers now need a household income of $115,000 to afford a median-priced home. That’s roughly $40,000 more than the typical U.S. household earns.
Housing market updates from Zillow and Redfin show a decline in home values from August to September, an uptick in annual price growth, and a slight increase in active listings as elevated mortgage rates drive buyers away from the market.
In last week’s Knowledge Brokers Podcast, Byron Lazine and Tom Toole worked on a script to present to homebuyers who could buy their next home with cash if they sold their home today.
The MBA, NAR and NAHB wrote a letter to Fed Chairman Jerome Powel urging the Fed to take steps to provide market certainty about rate hikes.
In a Fox Business interview, Redfin CEO Glenn Kelman reacted to the latest news on the U.S. housing market, warning that mortgage rates are unlikely to ease in 2023. And a CNBC article shows a decline in consumer sentiment despite an improvement in job numbers.
Byron Lazine shares his perspective on a recent RFK Jr Tweet with the president-hopeful’s idea for fixing the U.S. housing affordability crisis, along with some comments on the Tweet and a response from HW’s Logan Mohtashami.
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.
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.
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.
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.
Black Knight has released its September 2023 Mortgage Monitor Report, which shows over half (51%) of homebuyers facing monthly P&I payments of $2,000+ and almost a quarter (23%) facing $3,000+ payments and mortgage rates surge to 22-year highs.
Tom Toole shared two variations on a text script he uses with his team to get near-immediate and all-day responses from buyers in today’s market—not in spite of high mortgage rates but because of them.
For daily real estate news, business and marketing.
