Home Prices Fell 1% In February—First Annual Drop Since 2012

- Prices declined as sellers responded to a drop in homebuyer demand spurred by elevated mortgage rates.
- San Jose and Austin saw prices fall at roughly 12 times the national pace.
- While many buyers remained on the sidelines, home sales and competition leveled off following roughly a year of declines. Miami still saw sales fall 44%.

https://www.redfin.com/news/housing-market-tracker-february-2023/

#RealEstate #Housing #Redfin

“Investor purchases slumped 27% on a quarter-over-quarter basis, the largest quarterly decline on record aside from the beginning of the pandemic. That’s comparable with the 28.1% quarterly drop in overall home purchases.”

https://www.redfin.com/news/investor-home-purchases-q4-2022/

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ht @REfeeds

“Economic uncertainty and 6%-plus mortgage rates caused fewer Americans to purchase homes in the fourth quarter. But those who did buy relocated at an unprecedented rate due to remote work and the allure of more affordable options.”

https://www.redfin.com/news/housing-migration-trends-Q4-2022/

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@realestate@a.gup.pe @realestate@chirp.social

"An increase in home searches and tours at the end of 2022 is starting to translate into purchases as mortgage rates fall. Mortgage applications are up 25% and the slowdown in pending sales is easing."

https://www.redfin.com/news/housing-market-update-home-prices-increase-some-buyers-return/

#RealEstate #Redfin
@realestate@a.gup.pe @realestate@chirp.social

"Rents rose 5% from a year earlier, the smallest increase in nearly a year and a half. That’s roughly one-third the pace of growth seen last December."

https://www.redfin.com/news/redfin-rental-report-december-2022/

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@realestate@a.gup.pe @realestate@chirp.social

"That outpaced the 31% decline in non luxury home sales—which was also a record drop—but there are early indicators that homebuyer demand may inch back."

https://www.redfin.com/news/luxury-home-sales-november-2022/

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@realestate@a.gup.pe @realestate@chirp.social

"The price declines in Los Angeles, Pittsburgh and Phoenix are the biggest since at least 2015, as far back as this data goes."

https://www.redfin.com/news/housing-market-update-demand-uptick-sales-decline/

#RealEstate #HomePrices #Redfin
@realestate@a.gup.pe @realestate@chirp.social

"The price declines in Los Angeles, Pittsburgh and Phoenix are the biggest since at least 2015, as far back as this data goes."

https://www.redfin.com/news/housing-market-update-demand-uptick-sales-decline/

#RealEstate #HomePrices #Redfin
@realestate@a.gup.pe @realestate@chirp.social

“Just 3.4% of U.S. homeowners who bought in the last two years would be underwater on their mortgage if home values were to fall 4% by the end of 2023. Recent homebuyers in certain places, like Sacramento and Phoenix, are at higher risk of falling underwater on their mortgage, while Florida homeowners are at even lower risk.”

https://www.redfin.com/news/pandemic-homebuyers-underwater-unlikely/

#RealEstate #Mortgage #Redfin
@realestate@a.gup.pe @realestate@chirp.social

“We expect home sales to sink to their lowest level in more than a decade in 2023 as high mortgage rates keep housing costs up and prevent people from moving. High homeowner equity and a resilient job market will stave off a wave of foreclosures.”

https://www.redfin.com/news/housing-market-predictions-2023/

#RealEstate #MortgageRates #HomePrices #Redfin

Home-Price Growth Is Cooling Fastest in Pandemic Boomtowns Like Austin and Boise
Redfin - November 28, 2022 | By Dana Anderson

“Austin and Phoenix are both places where home prices soared during the pandemic-era homebuying frenzy as remote workers flocked from expensive coastal cities to more-affordable Sun Belt destinations. Las Vegas, Boise and Sacramento are also among the top 10 metros where price growth is slowing fastest.”

https://www.redfin.com/news/home-price-growth-cooling-fast-austin-boise/

#RealEstate #Housing #Redfin

Investor Home Purchases Fell 30% in Third Quarter
Redfin - November 22, 2022 | By Lily Katz, Sheharyar Bokhari

“Investors are pumping the brakes—especially in pandemic boomtowns including Phoenix and Las Vegas—as economic uncertainty and the prospect of falling home prices raise the risk of real estate investing.”

https://www.redfin.com/news/investor-home-purchases-q3-2022/

#RealEstate #SFR #SingleFamilyRentals #Redfin

Investor Home Purchases Fell 30% in Third Quarter

“Investors are pumping the brakes—especially in pandemic boomtowns including Phoenix and Las Vegas—as economic uncertainty and the prospect of falling home prices raise the risk of real estate investing.”

https://www.redfin.com/news/investor-home-purchases-q3-2022/

#RealEstate #SFR #SingleFamilyRentals #Redfin

Climate Change Has Some Retirees Rethinking Where to Live https://www.nytimes.com/2022/11/18/business/where-to-retire-climate-change.html #RealEstateandHousing(Residential) #HurricanesandTropicalStorms #DisastersandEmergencies #FirstStreetFoundation #ContentType:Service #Age,Chronological #PersonalFinances #GlobalWarming #CoastalAreas #Retirement #Wildfires #Drought #Weather #Floods #Redfin

Rents Rose 7.8% in October—Slowest Growth in 14 Months

“Demand for rentals is slowing because economic uncertainty is prompting many renters to stay put, and persistent inflation is shrinking renter budgets. That’s causing rent growth to cool.”

https://www.redfin.com/news/redfin-rental-report-october-2022/

#RealEstate #CRE #Single-FamilyRentals #SFR #Multifamily #Redfin