Category: Real Estate News & Analysis
Key takeaways for the 4-week period ending August 16: Median home sale prices climbed further to a new all-time high of $316,375, an increase of 11% from 2019 and the largest year-over-year gain since early 2014. Pending home sales were up 15% year over year, and are showing signs of... Read More
A surge in homebuilding before the pandemic is now driving growth in new-home sales. A shift to the suburbs and record-low mortgage rates are also contributing factors. Sales of newly-built homes climbed 10.1% year over year in July, recovering to pre-pandemic levels, while sales of existing... Read More
High-end home prices are showing strength during a recession as the coronavirus pandemic drives demand for extra bedrooms, home offices, big backyards and pools. The median sale price for luxury homes in the U.S. rose 1.2% year over year to $825,000 during the three months ending... Read More
Key takeaways for the 4-week period ending August 9: Home sale prices were up 10% year over year—the largest increase in over six years—to another new all-time high of over $314,000. Prices keep climbing month over month, bucking typical seasonality. 46% of homes had an accepted offer within the first... Read More
Surging homebuyer demand has prompted some sellers to host open houses during the pandemic, but group showings remain much less common than normal due to coronavirus risk, Redfin agents say. Nationwide, 6% of homes that were put up for sale in July held an open house... Read More
There’s more demand—and less supply—for rural and suburban neighborhoods than cities as the pandemic influences homebuyer preferences. Still, prices are up 6.7% in urban areas. The housing market is hottest in less densely populated areas, with July data showing more buyer interest in rural and... Read More
New listings surpassed 2019 levels for the first time since the pandemic began, up 3%, but failed to keep up with the rate of sales, up 5% year over year. The national median home price rose 8.2% year over year to $323,800 in July. This is the third time... Read More