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Pending Condo Sales Down as Inventory Expands

Pending Condo Sales Down as Inventory Expands

by Phil Hall | Sep 4, 2024 | Current News & Events, Real Estate News, U.S. Housing Market, WRE News Exclusive

Pending sales of condominiums were down by 5.5% year-over-year last month, according to new data from Redfin (NASDAQ: RDFN). This marked the lowest level for pending condo sales in any July on record. At the same time, the number of condos for sale rose 27.1% from one...
Study: Buyers Need to Earn Nearly $80,000 Annually to Afford a Typical Starter Home

Study: Buyers Need to Earn Nearly $80,000 Annually to Afford a Typical Starter Home

by Phil Hall | Aug 29, 2024 | Current News & Events, Real Estate News, U.S. Housing Market, WRE News Exclusive

The monthly housing payment for the typical starter home that sold in July was $1,981, up 4.4% from one year earlier, according to a new data report from Redfin (NASDAQ: RDFN). To afford a typical starter home, buyers must earn $79,252 annually, also up 4.4%...
Typical Homebuyer’s Down Payment Hits Record High

Typical Homebuyer’s Down Payment Hits Record High

by Phil Hall | Aug 28, 2024 | Current News & Events, Real Estate News, U.S. Housing Market, WRE News Exclusive

The typical down payment for homebuyers hit a record high of $67,500 in June, according to new data from Redfin (NASDAQ: RDFN). This is up 14.8% from $58,788 one year earlier and the 12th consecutive month the median down payment was up year-over-year. The typical...
Report: 6 of 7 People with Mortgages Have Interest Rates Below 6%

Report: 6 of 7 People with Mortgages Have Interest Rates Below 6%

by Phil Hall | Aug 27, 2024 | Current News & Events, Mortgage Information, Real Estate News, U.S. Housing Market, WRE News Exclusive

A total of 85.7% homeowners with mortgages, roughly six out of every seven households, have an interest rate below 6%, according to a data report from Redfin (NASDAQ:RDFN). This is down from 90.6% at the start of last year and from the record high of 92.8% in...
Monthly Mortgage Payments Record First Annual Decline in 4 Years

Monthly Mortgage Payments Record First Annual Decline in 4 Years

by Phil Hall | Aug 22, 2024 | Current News & Events, Mortgage Information, Real Estate News, U.S. Housing Market, WRE News Exclusive

The median monthly mortgage payment was $2,587 during the four weeks ending Aug. 18, according to new data from Redfin (NASDAQ: RDFN). This marked the lowest level since February and a 0.1% dip from one year ago – as well as the first time in four years that monthly...
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