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The Latest Breaking News from Redfin

Starter homes went from unaffordable to affordable in only two states

You can thank mortgage rates for cheaper starter-home costs, but they’re still a lot pricier than they once were.

Fortune

Police Warn Criminals Are Using Zillow And Redfin To Identify Homes For Burglaries

Police warn that criminals are using Zillow and Redfin listings to target homes for burglaries, exploiting detailed online property information to plan their crimes.

International Business Times

Police Warn Criminals Are Using Zillow And Redfin To Identify Homes For Burglaries In California, Michigan, And Arizona

Police warn that criminals in California, Michigan, and Arizona are using Zillow and Redfin listings to target homes for burglaries, exploiting detailed online property information to plan their crimes.

International Business Times UK

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A triple threat stalks the housing market as rates, costs, and election anxiety collide

Oh, and of course, home prices are still skyhigh.

Fortune

Austin is leading a rent renaissance in the Sunbelt right now

Rents in the Texas metro plummeted almost 18% last month from a year earlier, according to Redfin.

Fortune

Gen Z is getting a break on rent

The rental world is cooling off and becoming slightly better for recent college grads.

Fortune

Florida and Texas boomtowns are awash in a glut of condos

It comes down to sky-high homeowners association fees and insurance costs, according to an analysis from Redfin.

Fortune

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Half of all households in the country can’t afford a normal starter home

Americans need to make almost $80,000 to buy a typical starter home, according to Redfin. Data shows 50% of households earn thousands less than that.

Fortune

It’s getting easier to find a starter home but harder to buy one

Pending sales for starter homes rose 10%, according to Redfin, even as prices went up.

Fortune

Almost 1 in 10 homes are worth $1 million or more

California has the most million-dollar homes, and its share is swelling faster than anywhere else in the country, according to an analysis from Redfin.

Fortune

Looking to buy a home? You may now need to factor in the cost of your agent's commission

Thinking of buying a home with the help of a real estate agent

The Independent UK

Teacher pay needs to nearly double to afford a typical house

Teacher wages aren’t rising enough to match the housing affordability crisis.

Fortune

Redfin CEO Says If Mortgage Rates Don't Fall, Plan B Is To 'Drink Own Urine Or Competitors Blood'

During Redfin's Q2 earnings call, CEO Glenn Kelman said he is surprised about the muted real estate market activity despite mortgage rates consistently declining in recent months.

International Business Times UK

Majority of Texans say housing costs are too much, poll shows

Latino and Black Texans are more likely than white Texans to see housing affordability as a major issue, the poll found

Latin Times

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Fortune

The trillion-dollar metro club just got bigger

The number of trillion-dollar metros doubled in a year, lifting the housing market’s value to an all-time high, according to an analysis from Redfin.

Fortune

Renter households surged at triple the rate of homeowners

In June, rents were 23% higher than before the pandemic, while mortgage payments were up 90%, according to Redfin.

Fortune

The ultrarich are scooping up mansions while almost no one else can afford a typical home

Luxury-home prices rose more than twice as fast as those of non-luxury homes, and still their sales jumped compared with typical homes, according to Redfin.

Fortune

Austin is the best place for renters, according to Realtor.com—forget the northeast or west

The top three metropolitan areas for renters are Austin, Oklahoma City, and Birmingham.

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news in one place.

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Fortune

With homebuying ‘more expensive than ever,’ buyers are backing out of deals at a record pace

Last month saw more in-contract sales canceled than any June on record, according to Redfin.

Fortune

The typical monthly housing payment just fell from an all-time high

In a rare bit of good news, mortgage rates are the lowest they’ve been in months.

Fortune

Monthly housing payments have almost doubled in swing states since the last election

Swing states “have not been immune to the affordability crunch the country has been facing for the last several years,” Redfin’s senior economist said.

Fortune

Some homebuyers have gained more than $20,000 in purchasing power in just a few months because of lower mortgage rates

On the back of last week’s inflation reading, mortgage rates dropped to their lowest level since early spring.

Latin Times

Rent in large Florida cities is going down due to an oversupply of units

Jacksonville saw the most significant drop, with median asking rents decreasing by 12.4% year-over-year

Fortune

Rents are reheating after flatlining for some time

“The months long slowdown in the rental market appears to be leveling off as the busy summer season kicks off,” according to Zillow.

Fortune

Investors scooped up close to 15% of homes sold in first quarter—‘a bigger piece of the pie than in any other’

But sales were way down, so the “pie was much smaller,” according to Realtor.com.

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