A new Redfin report shows the U.S. asking rent dropped for the third consecutive month, falling 0.8% year over year in December 2024 to $1,964. By region, asking rents rose in the Midwest and Northeast; they fell in the West and South.
A new Redfin report shows just 16% of homes listed in 2023 were affordable for the typical homebuyer—the lowest share on record, down from 21% in 2022. Affordability is expected to improve in 2024 as mortgage rates drop and supply increases.
Redfin’s latest report shows a drop in homebuyer migration to different metro areas as remote work options decrease and home prices go up in popular migration destinations. This time, Spokane, WA, made the top 10 list of metros with the highest net inflow.
Here are the top housing market predictions for 2024, with highlights from eight reliable sources, led by Fannie Mae’s Economic and Strategic Research (ESR) Group and wrapping up with eight predictions from Ryan Serhant.
Goldman Sachs released updated housing and economic forecasts for 2024 through 2027, revealing bearish predictions on home sale transactions over the next four years, along with bullish predictions on home prices.
The National Association of Realtors released its 2024 housing market forecast, with existing home sales reaching 4.71 million in the coming year—even more bullish than Redfin’s recent projections.
A new Redfin report shows homebuyers earning the national median income ($78,642) in 2023 would have spent 41.4% on housing costs for the median-priced home ($408,806), making 2023 the least affordable year on record. But there’s hope for 2024.
Redfins’s 2024 housing market predictions are in, projecting some relief for buyers in the new year, alongside potential shifts in the real estate industry and changing attitudes toward renting.
Seattle-based Coldwell Banker Danforth has decided not to renew its affiliation with the National Association of Realtors (NAR), starting in 2024, making it the first privately-owned Coldwell Banker franchise in the U.S. to separate from NAR.
Financial reports for the third quarter of 2023 (Q3 2023) are in for the biggest names in real estate.
According to a new Redfin report, homebuyers in September paid all cash in just over one-third (34.1%) of U.S. home sale transitions—up from 29.5% one year ago and the highest share in almost a decade.
This week in BAM (Oct 30–Nov 3) covered the Sitzer/Burnett verdict, Bob Goldberg stepping down, Zillow acquiring Follow Up Boss, Anywhere partnering with RealScout, a Krys Benyamein webinar, and a BAMx mastermind hosted by Byron Lazine.
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